<p>The following article goes into some details around how they came up with this number.</p>
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To get the interest of the best presidential candidates in today’s competitive market, the University of Florida would have to offer a total compensation package of $950,000 to $1.25 million, a consultant told members of a search subcommittee Monday.
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The institutions were also chosen for their similarities to UF in budget, student population, faculty and staff size, and research dollars. UF has a $4.4 billion operating budget with 41,000 employees and about 50,000 students. It has a research budget close to $700 million.</p>
<p>Pollack noted that three of the public schools — Ohio State, Penn State and Michigan — had all hired new presidents this year, giving the most up-to-date compensation data available. Both OSU and Penn State offered compensation packages above $1.2 million, while Michigan offered its new president $900,000.
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<p><a href=“http://www.theledger.com/article/20140708/NEWS/140709351/1374?p=1&tc=pg ”>http://www.theledger.com/article/20140708/NEWS/140709351/1374?p=1&tc=pg</a></p> ;
<p>“To get the interest of the best presidential candidates”</p>
<p>Shouldn’t the best presidential candidates be the ones who “don’t” do it based on their compensation and apply for the position because they like the school and want to be a part of it/make a difference, no matter what the pay? :P</p>
<p>A $1 million annual compensation for that level of responsibility seems entirely reasonable to me. </p>
<p>Compare that to the $100 million packages the Masters of the Universe get for driving the global economy into a tail spin (e.g., goldman sachs, AIG, leman brothers)Lehman Brothers: financially and morally bankrupt | Richard Wolff | The Guardian ”>http://www.theguardian.com/commentisfree/cifamerica/2011/dec/12/lehman-brothers-bankrupt</a> ;
Of course, Lehman Brothers’ top bank executives rewarded themselves stupendously while directing Lehman Brothers into collapse. In October 2008, the CEO of Lehman Brothers, Richard S Fuld, argued over pay with Congressman Henry Waxman during public hearings on the bankruptcy. Fuld insisted he had taken “only” $310m in compensation during the seven years before 2008, whereas Waxman’s figure was $485m.
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<p>$1million at UF is a bargain.</p>