Joel Klein Gets 1,100 Percent Raise

Kat Stoeffel — Wed, 05 Jan 2011 23:29:04 -0400

The media hiring bubble is a sober affair. Where a decade ago there were boozy lunches suggestive of future expense accounts there are now coffee dates and heartfelt conversation.

Unless you're Joel Klein.

The former chancellor of New York City schools will receive a $2 million yearly salary and a $1 million signing bonus for the title of senior advisor and board member at News Corp., reports Yahoo. Plus a $1.5 million annual bonus, stock options, and $1,200-a-month car allowance. Working for the city he made $250,000.

It's no surprise his education expertise is so prized: Murdoch recently sank $360 million (The cost of 10 iPad-only newspaper start-ups!) into education software company Wireless Generation.

kstoeffel@observer.com

Observer » Joel Klein Gets 1,100 Percent Raise

Joel Klein Gets 1,100 Percent Raise