Keith Krach and Mitch Daniels agree on incentive based salary

29 Jun

In the current economic environment it makes sense for universities to do what Purdue is considering: looking to the business world for advice.

 

Particularly Purdue is considering making incoming president Mitch Daniels’ salary dependent on performance-based goals.  Rather than just paying a flat fee his salary will be partially made up of a base salary “consistent with salaries paid at our peer institutions”  and partially based on an incentive salary based on how well he achieves goals and objectives agreed to ahead of time with the board, according to a recent memorandum of agreement between Daniels and trustee Chairman Keith Krach reveals that Purdue.

 

What a great idea!  Holding presidents accountable for their actions no matter what?  More universities should consider this.

 

 

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