"Trustees approved pay hikes and eliminated salary caps for the system's executive employees - presidents, vice chancellors and the system's chancellor, Mildred García - last week after a pay analysis presented by the consulting firm Segal found that about 75% of comparable institutions pay executives more than CSU. The new executive compensation policy also includes a performance-based pay incentive up to 15% of the executive's base salary, a more competitive retirement plan and increased housing allowances ranging from $60,000 to $80,000."
"The 22-campus university system said the previous policy - which capped president salaries at no more than 10% above the predecessor's salary - prevented the system from offering competitive compensation and "significantly constrained" the CSU from recruiting candidates and filling vacant positions. Currently, CSU has three presidential vacancies - CSU Long Beach, Channel Islands and Cal Poly Pomona - with two more presidents set to retire soon - CSU San Bernardino and Dominguez Hills."
Top administrators across the California State University system will receive more than $500,000 in pay increases after trustees approved eliminating executive salary caps. The overhaul adds a performance-based incentive up to 15% of base salary, a more competitive retirement plan, and housing allowances of $60,000–$80,000. A Segal pay analysis found roughly 75% of comparable institutions pay executives more than CSU, prompting the change. CSU currently has multiple presidential vacancies and upcoming retirements. Faculty and staff condemned the move amid layoffs, tuition increases and a $2.3 billion budget shortfall.
Read at The Mercury News
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