Penn president’s pay increased to above $2 million

The University of Pennsylvania’s president’s salary is more than $2 million, an increase that the board’s chairman says reflects her extraordinary success at the helm of the Ivy League school.

Penn boosted President Amy Gutmann’s pay from $1.5 million in 2010-11 to more than $2 million last year, The Philadelphia Inquirer reported Saturday.

A fund-raising campaign brought in $4.3 billion, surpassing its goal of $3.5 billion.

Gutmann’s compensation ranked her third at the university, behind the head of the health system, who received $3.4 million in the year that ended in June 2012.

The 63-year-old Gutmann’s contract currently runs through 2019.