UF’s next president could make more than $1 million a year.
On Tuesday, the university’s Board of Trustees unanimously approved the salary recommendations made by the consulting firm, Mercer — a range from about $900,000 to $1.25 million.
Chair of the search committee, Steven Scott, was authorized to negotiate salary for the new president within that range. The final number will be based on the qualifications and experience of the future president.
“We just need to have this range carved out,” Scott said.
He said he wouldn’t be surprised if UF compensated its president within that range.
Mercer surveyed 12 peer institutions in the 62-member American Association of Universities, of which UF is the only Florida school, to determine an appropriate salary for UF’s next president, said Stephen Pollack, one of the Mercer consultants.
The seven peer public and five private universities, including academic stars like Penn State, Ohio State and Harvard, are in the 75th percentile of salaries paid to their presidents, said Pollack.
“That’s in order to attract the caliber of the person you want,” Pollack said.
Floridian tax dollars make up a maximum of $200,000 of a president’s salary. The rest comes from private donations, according to Alligator archives.
Current UF President Bernie Machen makes $525,166 a year in base pay, with his total salary reaching $720,594, according to the Chronicle of Higher Education. Before agreeing to stay an extra year, his total compensation was $565,492, according to Alligator archives.
[A version of this story ran on page 1 on 7/10/2014 under the headline "Board of Trustees approves new UF president’s salary range"]
UF President Bernie Machen gives his State of the University speech Thursday in the Reitz Union. He talked about the development of UF eCampus, Florida Core curriculum and expanding faculty resources, among other projects.
