The pay for presidents of public universities is rising, with the median salary for the president of a public university now $428,250.
That’s an increase of 7 percent, while two presidents in the nation (at Pennsylvania State University and Texas A&M) made more than $1 million, according to the Chronicle of Higher Education, which released its annual survey of public college presidents this week.
University of North Carolina system President Tom Ross made $543,725 during the 2014-15 school year, according the Chronicle analysis. N.C. State University Chancellor Randy Woodson made $520,000, as did UNC-Chapel Hill Chancellor Carol Folt.
Scott Ralls, the outgoing head of the state’s community college system, made $286,954.
The University of Texas’ incoming president turned down a $1 million base salary, asking instead for $750,000 out of concern of how the higher pay would be perceived by students, faculty and the state legislature.
The paycheck for the top job at UNC is likely to increase from Ross’ current salary, after the UNC Board of Governors moved in April to allow for salaries up to $1.1 million for the new president as well as increased pay for chancellors.
The board is in the midst of its search for a new president of the 16-campus system, after Ross was pushed out in January by the politically-appointed board for reasons that have still not been explained. Ross will stay in his position until January.
Pay, and the ability to offer more money to job candidates, has been mentioned by some board members as a necessary tool to recruit UNC’s next leader.
The decision to allow for more pay for top executives in the university systems comes after several years of deep cuts handed down to the university system by the state legislature, and as faculty and staff have seen little change in their salaries during the course of the recession.
There may be some salary increases for UNC employees, however. The House version of next year’s budget has a 2 percent raise proposed for university system staff and faculty.
The Senate is expected to release its version of the budget in coming days, though Senate leaders have said to expect a significantly smaller budget than what their colleagues in the House prepared.
So, what do you think? Should North Carolina be paying its top university leaders what it does? How much does salary matter when it comes to recruiting for top university jobs?