Cal State University executives are fleecing us while underpaying the faculty and staff. No wonder why tuition and fees are so high.

Top CSU execs handed raises of as much as 18 percent

The governing Board of Trustees of California State University gave approval Wednesday for executive pay increases ranging from 9 percent to 18 percent for Chancellor Charles Reed, his four top deputies and 23 campus presidents.Reed, whose salary will go from $377,000 a year to $421,500 (plus a $30,000-a-year retirement bonus), said the latest salary increases are needed to begin to bridge a salary gap with other comparable institutions, public and private.

As of now, Reed’s salary is more than double that paid to Gov. Arnold Schwarzenegger, who earns $206,500 annually. The governor’s pay will go to $212,174 in December.