Homeless in Arizona

ASU’s Michael Crow could get up to $260,000 bonus in 3 years

  I suspect it is articles like this that cause the Founders to pass the Second Amendment.

From all the folks I know who work at ASU, Michael Crow is hated by ASU employees just as much as he is hated by freedom fighters.

Source

ASU’s Crow could get up to $260,000 bonus in 3 years

By Anne Ryman The Republic | azcentral.com Wed Feb 6, 2013 11:00 PM

Arizona State University President Michael Crow could be eligible for a $260,000 bonus over three years if he exceeds a series of performance goals.

The Arizona Board of Regents will vote today on a proposal that would reward the leader of ASU, the country’s largest public university, if he meets targets related to graduating more students.

Goals include awarding more bachelor’s degrees, enrolling more transfer students, boosting research revenue and increasing the percentage of students who return for their sophomore year.

Crow makes $742,500 annually in salary and benefits. When the regents renewed his five-year contract in June 2011, he didn’t receive a raise because of the state’s economic crisis.

Under the proposal going to the regents today, Crow would have to exceed benchmarks in several areas in 2015 to receive $180,000. Between now and then, he would be eligible for a bonus of up to $40,000 a year.

One goal tied to an incentive is meeting regularly with, working with and achieving common goals with presidents of the other state universities. That’s worth $15,000 a year.

Regents Chairman Rick Myers said the performance incentives are designed to focus presidents on initiatives that will help Arizona become a stronger state.

“This is not about giving more money to presidents,” he said. “This is about trying to drive initiatives, drive clarity, drive to make a better future for Arizona.”

The goals are aggressive, Myers said. Crow probably is not going to get the entire amount, he said. Other goals include creating a detailed strategy for ASU’s international partnerships and a detailed health-care plan for how the universities can take a more proactive role in creating health-care solutions for the state, Myers said.

Performance bonuses are becoming more common in university presidents’ contracts but are not the norm. The regents recently added a bonus clause for University of Arizona President Ann Weaver Hart, who was hired a year ago. Her potential bonus is the same amount as Crow’s. Northern Arizona University President John Haeger doesn’t have a similar agreement. Myers said the plan is to add one for him.

Each of Crow’s goals is worth money, and each is all-or-nothing. Crow’s target for bachelor’s degrees in 2015, for example, is 14,900. ASU awards about 13,210 bachelor’s degrees now, according to the regents.

Crow gets $10,000 if that number is achieved. If it falls short, he gets nothing.

Crow has been ASU’s president since July 2002, coming from the private Columbia University in New York, where he was executive vice provost.

Under Crow, ASU has more than doubled its research revenue to $386 million a year, opened a downtown Phoenix campus and added millions of square feet of laboratory space.

His salary and benefits once ranked him in the top 10 among presidents of public universities, according to surveys by the Chronicle of Higher Education.

He has since fallen from that pack.

E. Gordon Gee, president of Ohio State University, is the highest-paid leader of a public college. His salary and benefits package was worth $1 million in total compensation in 2011, according to the survey.

Ohio State is the nation’s second-largest public university behind ASU.

The discussion of a bonus comes at a somewhat awkward time. ASU hasn’t given across-the-board pay raises since July 2007.

Also this week, the regents are considering a change that would allow the state universities to create a new class of at-will employees, meaning that staff in non-academic positions could be fired at any time.

Myers said that although the salaries and bonuses of the presidents might sound high, they are competitive with the market.

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Crow’s salary and benefits

Now: $742,500
Base salary: $475,000.
Housing allowance: $50,000.
Car allowance: $10,000.
Additional compensation from ASU Foundation: $100,000.
Pension: $85,500.
Retirement: $22,000.
Proposed Bonus:
2013: Up to $40,000.
2014: Up to $40,000.
2015: Up to $180,000 for exceeding benchmarks for freshman retention, research revenue, bachelor’s degrees awarded and transfer students.

Source: Arizona State University, Arizona Board of Regents

 
Homeless in Arizona

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