Washington State University president, Dr. Elson S. Floyd, stands out among a handful of academic leaders who recently announced they would either forgo raises or take voluntary pay cuts, not necessarily because they’re in the holiday spirit.
The decision to give back comes at a time when colleges and universities across the country are being asked to raise tuitions, cut programs and/or lay off employees because of tightening economic conditions. The decision also comes in the wake of a highly publicized report released last week by The Chronicle of Higher Education that examines the most highly paid university presidents of both private and public institutions.
Floyd requested that the Washington State Board of Regents reduce his salary by 14 percent, or $100,000. The request, the board said, was reluctantly granted.
“These are exceedingly tough times for my students, faculty and staff. We will be asking them to think more creatively and work harder with less as we deal with budgetary restraints. It is incumbent upon me to lead by example,” Floyd told regents on Friday following his decision to take a pay cut.
Floyd’s decision to give back a portion of his earnings followed similar actions by other university presidents across the country.
Last Tuesday, a day after the Chronicle’s report was published, Dr. Amy Gutmann, the president of the University of Pennsylvania, and her husband made a $100,000 gift to the university to support undergraduate research, according a New York Times report. Gutmann was one of eight private university presidents earning more than $1 million in 2006, a 40 percent increase from the previous year’s pay, according to the Chronicle survey.
