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University of Michigan President Mary Sue Coleman has asked for a pay freeze due to Michigan's economy.
Coleman's salary will be frozen at last year's levels, which the U-M regents discussed at their meeting Thursday. Coleman earns a $783,850 salary package. It includes:
• $553,500 base salary • $75,000 deferred compensation • $100,000 retention bonus • $24,500 retirement pay • $30,850 supplemental retirement pay • A house and car
Information from 2007-2008 showed a total compensation package of $760,196, as well as a house and car.
At the U-M Board of Regents meeting, Coleman was praised for a number of initiatives completed under her leadership, including "The Michigan Difference," a fundraising campaign that raised $3.2 billion between May 2004 and December 2008. Coleman joined U-M in 2002 following six years as president at the University of Iowa.
Coleman is the fifth highest-paid public school president in the country, according to a 2009 article in Business Week that used survey data from 2007-2008.
But Coleman is not the top earner at U-M.
Dr. Ora Hirsch Pescovitz, the executive vice president for medical affairs and CEO of the U-M Health System since May, makes a $700,000 base salary with the ability to earn up to $150,000 annually if she meets certain performance goals. She'll be eligible for a merit increase to her base salary in 2010.Â
In addition, Pescovitz receives $100,000 a year in a retirement account that will be vested after five years and received a one-time lump sum of $150,000 for transition costs. The money comes from health system resources, not the university's general fund.
Around the Big 10, Coleman is the third highest-paid college president, according to data from 2007-2008.
Here's a look at how college presidents stacked up recently around the Midwest.
1. Northwestern University: $1.7 million*
2. Ohio State University: $1.3 million
3. University of Michigan: $760,196
4. University of Minnesota: $697,213
5. Pennsylvania State University: $611,367
6.. University of Iowa: $583,000
7. Michigan State University: $572,000
8. Purdue University: $501,000
9. Indiana University: $484,000
10. University of Illinois at Urbana-Champaign: $427,500
11. University of Wisconsin-Madison: $358, 745
Source: The Chronicle of Higher Education, 2007-2008 data
*Northwestern University data from 2006-2007
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