Previous Leader of Kentucky's Community-College System Rejects Raise and Bonus |
Next |
December 3, 2008, 11:35 AM ET
Stanford's President and Provost Will Take 10% Pay Cuts
The president and provost of Stanford University are taking immediate 10-percent cuts in their salaries as part of an overall plan to trim the university’s budget, and other senior administrators have also volunteered to take salary reductions, the provost, John W. Etchemendy, said on Tuesday in a letter to faculty and staff members.
Mr. Etchemendy said Stanford was seeking to reduce its $800-million general-fund budget by about $100-million and called on all university divisions to submit scenarios for cutting their budgets by 5 percent, 7 percent, and 10 percent next year. “The ultimate cuts may not have to be this deep,” he wrote, “but we would be irresponsible not to prepare for this eventuality.”
Mr. Etchemendy did not say how many administrators were taking salary reductions, but said they included “all of the school deans.” Lisa Lapin, Stanford’s chief communications officer, told the Associated Press that the cuts would affect about 15 to 20 positions with salaries that start around $250,000.
Stanford’s president, John L. Hennessy, received $701,501 in total compensation in the 2006-7 fiscal year, the latest for which information was available, according to a survey by The Chronicle of pay for the chief executives at 599 private colleges.
On Hiring is The Chronicle's blog about the ins and outs of college hiring, with articles and advice from around the Web.
Add Your Comment
Commenting is closed.