What is the President’s Salary while in Office and after Leaving?

Presidential Compensation

The Constitution mandates that a president must receive a salary. The Founding Fathers intended to protect even affluent presidents from potential temptation towards corruption. This salary rule also aimed to ensure that financial constraints would not prevent a president-elect from assuming office. Salaries have varied significantly over the years, with four presidents opting out of personal compensation. Moreover, former presidents receive several benefits even after leaving office.

Key Takeaways

The current salary for the president of the United States stands at $400,000 per year, along with an expense account of $50,000. Former presidents receive a pension and other benefits upon leaving office, amounting to nearly $5 million annually. More than 40% of this cost is allocated to office space. Interestingly, the First Spouse holds numerous responsibilities without a salary.

Types of Presidential Compensation

Joe Biden earns about seven times more than the average American annually, in alignment with the original design of the presidency by the Founding Fathers. The president of the U.S. receives a yearly salary of $400,000 and an additional $50,000 expense account. This account, added by Congress in 1949, covers personal costs such as food and dry cleaning. On average, Americans earn around $59,200 a year based on a weekly pay of $1,139 multiplied by 52 weeks.