Sallie Mae’s Incompetence

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While you are scraping along eating Ramen so you could afford to make that one pleasure purchase after graduation the heads of Sallie Mae are raking in the cash. Check out the salary info for the top officers at SLM Corp. Granted managing the assets of such a mammoth company is quite the undertaking but isn’t 3.31 Million a year a little much given the rising cost of education for the people you are serving.

To put this in perspective, the value of the federal loans we are trying to consolidate away from Salie Mae is $6064.77. That is less than 1 percent of his annual salary. In fact it is 0.0018322567975830815709969788519637 of his annual salary and an even smaller portion of Sallie Mae’s net Income.

	Pay	Exercised
Mr. Thomas J. Fitzpatrick , 58 Vice Chairman and Chief Exec. Officer	$ 3.31M	$ 0
Mr. Charles Elliott Andrews , 55 Chief Financial Officer, Principal Accounting Officer and Exec. VP	$ 1.06M	$ 0
Ms. June M. McCormack , 58 Exec. VP of Servicing, Technology & Sales Marketing	$ 1.04M	$ 0
Mr. Kevin F. Moehn , 58 Exec. VP Sales and Originations	$ 1.00M	$ 0
Mr. John F. Whorley Jr., 45 Exec. VP of Debt Management Operations and Sallie Mae Financial	$ 1.08M	$ 2.85M

Source: Yahoo Finance SLM Corp