UF’s next president stands to earn up to $3 million a year under a tentative compensation package approved by the UF Board of Trustees.
Newly released minutes of a Feb. 25 committee meeting show trustees are willing to offer their pick to lead the state’s flagship institution an annual pay as much as $1 million more than what they offered former President Ben Sasse.
Mercer, a consulting firm hired to craft the compensation package, attributed the potential pay increase to high turnover rates and rising presidential salaries. Many universities pay their presidents millions annually, often well above what governors and other high-ranking public officials make.
UF has historically been ranked among the top 20 public universities with highest paid presidents, according to The Chronicle of Higher Education. Sasse, who resigned as president in July, had a five-year contract totaling $10 million, which included a $1 million salary, annual performance bonuses up to $150,000 and a $1 million retainer. As part of his resignation agreement, he will continue earning just over $1 million annually as a professor until 2028.
Kent Fuchs, Sasse’s predecessor who returned as interim president in August, had a $1.1 million base salary. Fuchs receives $1 million per year in his temporary role.
Other Florida universities rank similarly. Florida State University pays its current president $1.1 million annually, University of Central Florida’s president is receiving a boosted annual salary of $900,000 and the former president of the University of Miami received $1.6 million per year.
A $3 million compensation package, Mercer said, will keep UF consistent with market trends.
During the meeting, the Board of Trustees also approved the board chair’s authority to negotiate the final employment contract with the selected presidential candidate. Rahul Patel, a UF trustee chairing the search committee, said in December that finalists could be discussed as early as April.
Contact Grace McClung at gmcclung@alligator.org. Follow her on X @gracenmclung
Grace McClung is a third-year journalism major and the university administration reporter for The Alligator. In her free time, Grace can be found running, going to the beach and writing poetry.
