How Much Do Former Presidents Earn After Leaving Office
Former presidents receive an annual pension set by the Former Presidents Act. The pension equals the salary of a Cabinet secretary, which was $226,300 in 2024 according to the Office of Personnel Management. This pension begins immediately after leaving the White House and continues for life. The amount adjusts annually based on private-sector pay raises for senior executive employees.
In addition to the pension, each former president gets a $1 million annual expense allowance for office staff and travel. They also receive up to $96,000 per year for office space in their home state, funded through the Former Presidents Fund. These payments come from a dedicated federal appropriation, not from the presidential salary they earned while in office.
What Other Income Sources Do Former Presidents Have
Book Deals and Speaking Fees
Former presidents earn substantial income from memoir advances and speaking engagements. Bill Clinton earned an estimated $100 million from his autobiography "My Life" alone. Barack Obama received a $65 million advance for his presidential memoirs, reported by Penguin Random House. These deals often include large upfront payments spread over several years.
Speaking fees for former presidents typically range from $200,000 to $400,000 per appearance, though exact figures are often negotiated privately. The Clinton Foundation and Obama Foundation have also generated revenue through donor events and partnerships. Former presidents generally do not take corporate board seats or private sector jobs while in office, but they can accept paid positions after leaving.
Corporate Boards and Advisory Roles
Some former presidents join corporate boards after their presidency. George W. Bush joined the board of directors of several companies, including CBRE Group, a commercial real estate services firm. His board compensation and stock holdings are publicly disclosed through SEC filings. These roles typically pay six-figure annual retainers plus equity-based compensation.
Former presidents also launch post-presidency ventures and consulting firms. The Trump Organization continued to generate revenue from real estate and licensing deals during and after Donald Trump's presidency, with financial details reported in annual disclosure forms. These income streams are separate from the federal pension and allowance.
How Former Presidential Pay Compares to Other Public Figures
Presidential Salary During Office
The current presidential salary is $400,000 per year, set by Congress in 2001. This salary is subject to federal income tax, and presidents historically donated portions to charity. The salary has remained unchanged for over two decades, while Cabinet secretary pay has risen with private sector benchmarks.
Post-Presidency Income Rankings
Among recent former presidents, post-presidency income varies widely based on book deals, foundation fundraising, and board seats. Bill Clinton and Barack Obama rank highest in cumulative post-office earnings, driven by large memoir advances and foundation revenues. George W. Bush and Jimmy Carter earn more modestly from speaking and board roles. All former presidents receive the same base pension and allowance regardless of their pre-presidency wealth or post-presidency activities.
Sources and Reporting
The Former Presidents Act details are maintained by the National Archives and the Office of Personnel Management. Financial disclosures for presidential libraries and foundations are available through the National Archives and IRS Form 990 filings. For specific compensation data, the Office of Personnel Management publishes annual salary tables for government executives.