Metrics set for Daniels' Purdue pay
$126,000 designed as "at-risk" pay
Last Updated: 72 days ago
WEST LAFAYETTE, Ind. - The Purdue University Board of Trustees has approved a set of weighted goals that will determine nearly a third of his pay.
At Daniels' request, 30 percent of his $546,000 yearly salary was designated "at-risk," meaning it would be tied to certain goals set by the board of trustees. That "at-risk" portion amounts to $126,000.
The performance metrics approved by trustees fall into five categories: and six-year graduation rates, reduction of student debt, fundraising, academic excellence and demonstrated student outcomes in knowledge and understanding.
"All of these measures directly impact students' ability to have affordable access to Purdue and to receive a quality education once they arrive here," said Thomas Spurgeon, chairman of the Board of Trustees. "There are only two universities of which we are aware that compensate their presidents in a similar way. It sends a powerful message to parents and Purdue supporters that President Daniels is willing to tie his compensation to the success of our students and the university as a whole."
For 2013-14, the fixed portion of the president's pay will remain at $420,000 since Daniels elected to waive eligibility for a university-wide 1 percent pay increase and instead allocate that money to the university's Student Affordability and Accessibility Fund.
Daniels' base salary ranks ninth among base salaries for Big Ten public university presidents.
"Tying my pay to these goals allows Purdue to make a strong statement about what is important and about the need for us all to be responsible for results," Daniels said. "Higher education is entering a new era of affordability and accountability, and we want Purdue to be a national leader in these areas."
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