Ross’ pay at CMU an 81.4 percent bump from Alcorn State
Central Michigan University President-designate George Ross was making a base salary of $192,937.50 as Alcorn State University president.
When he takes leadership of CMU on March 1, he will make a base salary of $350,000 — $157,062.50 more (an 81.4 percent increase).
ASU’s enrollment is 3,339, compared to CMU’s roughly 27,357.
When negotiating what to pay Ross, Board of Trustees chairwoman Stephanie Comai said the salaries of other university presidents were considered.
“We looked at that as our starting point,” she said.
With the differences in Ross’ contract and the change in benefits, the total compensation is what needs to be looked at, Comai said.
Benefits
Some of the benefits found in former university president Michael Rao’s last contract will not remain in that of Ross’.
Comai said Rao had a couple bonuses he would have received had he stayed, which were eliminated from Ross’ contract.
According to Rao’s contract, if he remained president beyond July 1, 2005, he would receive an amount that equaled his 2004-05 salary to be paid in installments. Rao would receive 50 percent at the end of his sixth year, 30 percent at the end of his seventh year and 20 percent at the end of his eighth year.
Ross’ bonuses will be based on performance, not retention.
If Ross achieves the goals set by the Board by March 30 of each year, he will receive a bonus of up to 20 percent of his first year’s base salary, which equals a maximum of $70,000.
“We hope and expect that (Ross) will perform and reach measurable goals,” Comai said.
One more noticeable difference is base salaries of Rao and Ross. Rao ended his eight-year tenure at CMU with a base salary of $302,557, and Ross will begin with $350,000.
Comai said part of that difference is because Rao’s wife, Monica, also was receiving a salary of around $30,000.
That was not continued with Ross’ wife, Comai said. So, to equal it out, more was added to Ross’ salary.
“We want to be competitive, too, but be aware of limited resources available,” Comai said.
