Birthplace of Million-Dollar Public-College Presidents Still Pays Well

Michael Drake, Ohio State U.

Ohio State U.

Michael V. Drake, who becomes Ohio State’s new president in June, will have a base salary of $800,000, plus deferred compensation and potential bonuses.

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close Michael Drake, Ohio State U.

Ohio State U.

Michael V. Drake, who becomes Ohio State’s new president in June, will have a base salary of $800,000, plus deferred compensation and potential bonuses.

Ohio State University, which made history as the first public institution to pay a president more than $1-million a year, will compensate its new leader comparably, a document released on Friday says.

Michael V. Drake, chancellor of the University of California at Irvine, will take over as Ohio State’s new president on June 30 with a pay package worth as much as $1.2-million in base compensation, deferred pay, available bonuses, and other benefits.

The base salary for