With the presidential campaign kicking into high gear after the conventions, we thought it would be interesting to look at just how well compensated the commander in chief is these days compared with his original counterparts.
Along the way, we compared the wages and benefits of other political and private-sector jobs. The results aren't perfect. After all, there are many factors that go into compensation besides straight salary.
Comparing the original 1789 annual presidential salary of $25,000 with today's $400,000 is not as easy as it looks. The simple way is to calculate what 1789 dollars would be worth today. But over the years, Congress has added perks like expense accounts, a pension and money for staff salaries that have made the presidency more lucrative.
Accounting for all the factors is more art than science, but the results provide an interesting glimpse into how times have changed, from the earliest days of the republic.
And then there are all those modern-day federal employees below the office of the president. Much is made about how "bloated" salaries are compared to the private sector. But that depends on how you look at the data. We take a look at that issue, as well, in How Much Do They Earn? From Presidents to Privates:
President
1800: $25,000 per year
Today: $400,000 per year
George Washington received $25,000 per year while holding the nation's highest office. Since George W. Bush took office, the chief executive has been paid $400,000. That $25,000 would be equivalent to a salary of about $300,000 today. (These figures are not set in stone. One inflation calculator, at Measuring Worth, more than doubles the worth of that $25,000 today.) But Barack Obama and other recent presidents have had much more money at their disposal. For one, there's a $50,000 expense account, as well as other money to pay for official duties like entertaining and travel. In addition, Congress has provided a generous pension and money to pay staff members during the transition back to private life. For instance, Bill Clinton is expected to receive $6 million in pension during his lifetime.
Congress
1800: $6 per diem
Today: $174,00 per year
Of all the high-profile jobs in the U.S. government, this one has almost certainly seen the biggest change in pay. Even with the inflation rate accounted for, that $6 per diem only comes to about $75 today, barely enough to hit a trendy D.C. hot spot for lunch. Of course, the founding fathers never envisioned legislators working fulltime as they do now (in between raising campaign funds, that is). The compensation for senators and congressmen is so complicated it takes the Congressional Research Service 12 pages to explain it. Other benefits include health and life insurance, retirement benefits, a mileage allowance for travel to Washington for sessions, franking privileges. That's not everything, but it's enough to see the job pays better than it did in the 1st Congress.
Supreme Court Justice
