Photo Caption: This data is for fiscal year 2011, and is only for base pay, not total compensation
At its meeting last week, the Ohio University Board of Trustees awarded OU President Roderick McDavis a new five-year contract, including a healthy 6.3 percent raise and a 15 percent bonus.
The raise bumps McDavis's base salary up from a bit over $390,000 to $415,000, while the bonus amounts to $59,548.
McDavis, like many other university presidents, earns in real terms considerably more than his base salary, when extras are taken in account such as accrued deferred compensation, retirement packages, vehicle and housing considerations, and bonuses.
For example, when the Chronicle of Higher Education published an annual college-president salary survey for the 2011 fiscal year, McDavis was listed as having a base salary of about $383,000, but his "total compensation" was listed as more than $429,000.
McDavis last got a raise in June 2011. His pay hike of $6,521 at that time raised his salary from $383,800 to $390,321.
In a news release, OU stressed that the Trustees took the Chronicle's salary rankings into account when they decided to top up McDavis' pay packet. The release noted that the survey had McDavis' pay ranked near the bottom among presidents of 10 public universities in Ohio.
McDavis' last contract had been set to run out in 2013. His new contract was put into effect retroactively as of July 1 of this year. His raise and bonus, the release said, are "based on the board's assessment of accomplishments in the previous year."
Board Chair Gene Harris praised McDavis in the release, claiming he "has exhibited a remarkable capacity for hard work and an energetic commitment to advancing the university."
She cited as evidence increased undergraduate applications, improvements in the quality of the undergraduate student body, an increased commitment to e-learning, and restructured academic programs and departments. "The university has weathered severe budgetary cutbacks and now is on a firm financial footing," the release said.
The release also noted the investment in deferred maintenance and repairs to the Athens campus overseen by McDavis, as well as upgrades to its residence halls, and a fundraising campaign that's on track to meet its $450 million goal by 2015.
"We believe that the proposed contract is an appropriate recognition of President McDavis' hard work and dedication and is in line with the compensation paid to presidents at comparable Ohio institutions," Harris is quoted as saying.