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WSU president’s pay second-highest among public institution chief executives

Floyd
From Staff Reports
Floyd

Washington State University President Elson Floyd had the second-highest base pay among public college presidents in the nation in 2014, and he ranked fourth in total compensation, The Chronicle of Higher Education reported Sunday.

Floyd, 59, who just went on medical leave for colon cancer treatment, earned a base salary of $725,000 last year. His total compensation was $877,250, including $152,250 in deferred compensation.

In 2013, Floyd earned base pay of $662,500, with no deferred compensation. That year he ranked seventh-highest for base pay and was 17th for total compensation.

Former University of Washington President Michael Young made $622,000 last year. Young left UW earlier this year to head Texas A&M University.

Just last month, the WSU regents approved a $50,000 raise for Floyd, to $775,025, for the coming year. He also has a retention package worth $500,000.

At that time, outgoing board Chairman Michael Worthy praised the work Floyd had done at WSU.

“I’ve been in professional life for some time and I’ve done hundreds and hundreds of performance appraisals, and I can tell you that based on the feedback from all the members of this board … the performance of President Floyd throughout his eight years as president, but especially during the 2014-2015 academic year, is the most extraordinary performance by a professional I have ever seen,” Worthy said.

Floyd was second in base pay to University of Texas System Chancellor Francisco Cigarroa, who made $752,160. Cigarroa resigned in December to return full time to the practice of medicine.

The survey examined pay for 238 chief executives at 220 public universities and school systems. It found the median salary for presidents who served a full year was $428,250.

The Chronicle changed its methodology for total compensation in this year’s survey to include only deferred compensation that was paid out. Previously, deferred compensation that was promised to presidents if they remained on the job was factored into total compensation. The Chronicle calculates total compensation for public college presidents as base salary, plus bonus, severance and deferred compensation that was paid out.

Floyd has led WSU since 2007. In 2012, his total compensation was $1.125 million. That included $500,000 in deferred compensation.

Floyd’s leave of absence was approved Friday by the university’s board of regents.