U President Michael Young’s salary will be increased from $330,000 to $348,000, effective July 1.
The Utah State Board of Regents met at Weber State University on Friday and decided to increase the salary of college and university presidents in Utah to increase market comparability.
The goal is to bring the salaries closer to the national salary average for presidents at comparable institutions.
“(Our goal is to) treat our presidents as fairly as we can and to try to keep their salaries somewhat competitive with neighboring states,” said Dave Buhler, interim commissioner of higher education. “The president of the institution is key to the success.”
The salary increase also accounts for other factors, such as the increased cost of living.
Each president will receive a base salary increase of 3 percent and will receive up to a 5 percent increase depending on other factors, such as the length of service and the extent to which a president is meeting institutional and regent expectations, said Spencer Jenkins, spokesperson for the Board of Regents.
The size of the U, scope of university programs and other elements–such as being a research university–factor into the salary increase.
The salary increase was considered in January, two months before the budget for the Board of Regents was approved. The meeting to approve salary increases occurs at every May-June board meeting.
Young received a 5-percent increase last year during a statewide 3.5- to 7-percent increase, Jenkins said.
Despite the fact that Young is the highest paid university president in Utah, Young’s new salary will be lower than the peer average of $415,000.
“We’re fortunate to have some great presidents,” Buhler said. “Young is an outstanding university president and one of the best out of the whole country.”
Employee salaries are top priority and were fought for at the legislative process, Buhler said. Faculty salary increases are handled at the institutional level, but are part of the budget request at the legislative level.
Katie Smith, a sophomore in math and physics, said she doesn’t think Young should get a salary increase at all.
“I think that improving other places in the educational system where students could benefit from the money being spent is more important,” she said.
“We would like to have all the employees in higher institution be at 90 percent of the market,” Buhler said. “Without our employees, we don’t accomplish very much.”
U President Michael Young received a pay increase from the Utah State Board of Regents.