Source : Webster's Revised Unabridged Dictionary (1913)

Salutatorian \Sa*lu`ta*to"ri*an\, n.
   The student who pronounces the salutatory oration at the
   annual Commencement or like exercises of a college, -- an
   honor commonly assigned to that member of the graduating
   class who ranks second in scholarship. [U.S.]

Source : WordNet®

salutatorian
     n : the graduating student with the second highest academic
         rank; delivers the opening address at graduation
         exercises [syn: {salutatory speaker}]