It’s not just presidents who are being held to performance measures to get bonuses and raises. Nineteen percent of provosts and 18 percent of chief financial officers at private universities and colleges are, too, Yaffe & Company reports. In Texas, the new incentive pay plan includes vice chancellors.
The landscape of higher ed reveals a trend toward higher ed executive, especially presidential, bonuses tied to measures of performance such as cost savings, growth in research grants, fundraising, graduation rates and more. This resource examines that trend using, as a case study, John O’Donnell, president of Massachusetts Bay Community College.
- Patrick Callan of National Center for Public Policy and Higher Education. The process appears to be undertaken “just to justify extravagant salaries, or is way too focused on fundraising. “In other cases, ‘it’s like they put the presidents on trial,’ and every constituency — faculty, donors, students — is invited to weigh in. That’s just a killer. It creates presidents who won’t take risks.’”
- Dennis P. Jones of National Center for Higher Education Management (NCHEMS), a frequent SCUP speaker: “It all goes to the idea of putting money behind the goals you’re trying to achieve. If that’s more graduates, let’s pay for graduates. If it’s something else, let’s pay for that.”
- Stephen Pollack of consulting firm Mercer: “Corporate concepts are just starting to drift into academia, and they have to. Institutions can’t afford not to have competent people in these jobs.”
- From Community College Daily www.ccdaily.com by Rebecca Trounson/Hechinger Report.
- Tags: Presidents, Leadership, Resource and Budget Planning, Compensation