The WSU Board of Regents approved a five-year employment contract with Kirk Schulz on Friday.
Kirk Schulz, the incoming president of Washington State University (WSU), will make $625,000 a year and could earn an additional retention incentive of $25,000 a year.
The WSU Board of Regents approved the five-year contract Friday.
Schulz, 52, currently president of Kansas State University, will also be provided with housing, both at the president’s residence on campus and in a condominium in the Seattle area.
The contract also includes an appointment to the WSU faculty. Schulz will become a full professor with WSU’s Voiland College of Engineering and Architecture after completing the WSU tenure process. He’ll begin his new job as president June 13.
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Schulz was chosen to head the university March 25 by a unanimous vote of the regents. At the time, WSU Regent Mike Worthy said Schulz’s pay wouldn’t be as high as former President Elson Floyd, who made $725,000. Floyd died of complications from colon cancer in June.
According to The Chronicle of Higher Education, Schulz made $460,000 at Kansas State in 2014.
Schulz’s salary makes him the second-highest-paid university president in the state, after University of Washington President Ana Mari Cauce, who makes $910,000 a year, including deferred compensation and other perks. (Cauce donates $100,000 of her salary annually to the university for student programs and scholarships.)
However, both presidents make less than the football coaches at their schools: WSU’s Mike Leach makes about $2.75 million, and the UW’s Chris Petersen makes $2.68 million.
A base salary of $625,000 a year would have made Schulz the 11th-highest-paid public university president in 2014, according to The Chronicle’s compilation, which is the latest year for which figures are available. However, many presidents have likely seen a salary increase since then.