The University's top money managers continued to earn salaries in the hundreds of thousands of dollars last year, even as the value of Harvard's endowment dropped by $50 million.

Documents filed this month with the State Office of Public Charities report the salaries of the five highest-paid officers of Harvard Management Corporation, a nonprofit organization which oversees the University's $4.7 billion in investments.

The organization's top-paid employee, Vice President and Director of Fixed Income Investment Dave Mittelman, earned $682,000 in salary for fiscal year 1990-91. Company President Jack R. Meyer was paid $575,000, according to the documents.

Meyer's pay is considerably more than the $354,192 earned by his predecessor, Walter M. Cabot '55, in 1986-87.

And three other vice presidents--Jon Jacobson, Timothy Peterson and Robert Matson--earned $425,000, $400,666 and $384,400, respectively.

Despite efforts by many depart- ments and faculties to cut costs during therecession, Harvard's annual financial report,released last month, reported a $42 milliondeficit for 1990-91.

The documents report the five investors'average work week as 35 hours. That putsMittelman's wage at just under $375 per hour--notcounting holidays or vacation time, or Mittelman's$56,604 in benefits.

These figures represent a drop-off from1988-89, when two Harvard money managers earnedmore than $1 million each. Still, Mittelman's$682,000 paycheck for 1990-91 is more than threetimes the $199,986 that then-Harvard PresidentDerek C. Bok earned in 1989-90, the most recentyear for which figures are available.

The salaries for Harvard's top academics arefar below those of the money managers.

In 1989-90, Medical School Dean Daniel C.Tosteson '44 earned $240,000, and AssociateProfessor of Implant Dentistry Paul A. Schnitmanwas paid $221,750. Business School Dean John H.McArthur earned $180,000