Despite expecting new budget cuts of 3.9 percent in addition to a 2 percent cut already laid out for the UNC system, the Board of Governors approved a salary raise for system President Erskine Bowles’ successor.
While Bowles, who announced his resignation in February, earned a salary of $478,291, the board approved a salary ranging from $495,000 to $550,000 in a search subcommittee meeting Tuesday.
The decision to raise the salary was based on search consultant R. William Funk and Associate’s recommendation that a raise would help the system find competitive candidates in a nationwide search.
“At each executive search there’s been an adjustment made to the president’s salary, for that very reason of knowing that they need to have a competitive package in order to attract high quality candidates,” said UNC-system Vice President for Communications Joni Worthington.
“Historically North Carolina has been slightly below market, as far as the salary for the president,” Worthington said.
The University of California System President Mark Yudof earns $600,000.
“The consultant … noted that even with the increase that they were proposing, they would still be a little on the low side,” Worthington said. “And he felt that would be adequate to attract a good pool.”
The leadership statement committee decided in March which essential characteristics the board would like to see in the next president, qualities which would require a competitive package to attract qualified candidates.
“The characteristics noted by various constituencies who have provided input to the committee has been an individual who had management experience and has managed big, complex organizations,” Worthington said.
