New A&M President

Texas A&M President Michael Young at a press conference in Rudder Tower last month. He was confirmed as A&M’s new leader on Monday.

Texas A&M University System Chancellor John Sharp wasn't kidding last month when he said incoming president Michael Young's salary won't compare to that of his predecessor's: Turns out it's more than twice the amount.

Young will be paid $1 million annually, receive a yearly $200,000 housing allowance and be given $800,000 up front for signing on with Texas A&M, according to the proposed contract that officials said is "close to being signed."

The System Board of Regents confirmed Young as the flagship school's president during a telephonic meeting Monday, unanimously voting to hire Young and pay him more than any other A&M president has earned. The five-year contract starts May 1.

Following the meeting, The Eagle learned of Young's compensation package, which includes being eligible for up to four $100,000 performance bonuses at the discretion of Chancellor John Sharp.

Officials said Sharp will consider how Young does with commercialization gains, graduation improvements, fundraising efforts and overall performance. The university will provide Young an annual deferred compensation plan award of $200,000.

According to a post on Young's Facebook page, he finished his three-year tenure as president of the University of Washington last week, where he was paid $853,000 annually.

Sharp was true to words he spoke at a Feb. 3 regents meeting when Young was named sole finalist for the president's job. Sharp said then that "his salary will not compare to the last president's salary because this president does not compare to the last president."

R. Bowen Loftin, Young's predecessor who left A&M in January 2014 to become chancellor of the University of Missouri, was paid at least $425,000 annually. He lived in the president's house on campus, so he did not receive a housing stipend, university officials said.

After Monday's meeting, Regent Chairman Phil Adams said Young's contract is appropriate as he described the president-to-be as "one of the great sitting presidents in all of the country."

"I know it's a lot more than we've paid a president, but he will be outstanding on the job and well worth it ... we've got somebody that's at the very top of the game," Adams said.

"We're going to put good use to that property," Adams said. "I would envision it will have a lot better use and a lot more people will get to use it for a lot of different things that you couldn't use before."

Regents also confirmed three other appointments during the meeting, including:

Dr. Joyce Alexander will join Texas A&M University effective June 1 as dean of the College of Education and Human Development after serving as executive associate dean of the School of Education at Indiana University. Also effective June 1, Dr. Eli Jones will become dean of the Mays Business School after serving as professor and dean of the Walton College of Business. Finally, Dr. Bruce Akey will take over as director of the Texas A&M Veterinary Medical Diagnostic Laboratory effective immediately. Akey was named sole finalist for the position by regents in February after serving as interim director since 2014.

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(16) comments

Bryce Essary

Mike Young seems to be of a higher caliber hire than previous presidents of the late 2000s but not one to command 1 million dollars plus. This flies in the face of the mission of the university I believe. This is just another example of poor stewardship of taxpayer dollars especially when student debt is at an all time high. Kevin Sumlins salary is even more of an outrage especially since he really hasn't done an impressive job with the football team but that is another story.

Where is our administration apologist, Sabio by the way? Surely someone has to agree with this waste.

George Hayduke

Interesting article about presidents' salaries, student debt, and the use of adjunct faculty...

http://www.nytimes.com/2014/05/19/education/study-links-growth-in-student-debt-to-pay-for-university-presidents.html?_r=0

Aggie Till I Die

As I stated when It was announced that Young was the "Sole Finalist," I am not sure he is the right (no pun intended) fit for us AND the "POOP is goin to hit the fan when everyone finds out how much he will be paid!!!!" Poor Sabio! He is quiet now......

Paradise

Sharp has another objective. The more Young is paid, the more compensation he can request from the Regents.

roy g

Sharp said then that "his salary will not compare to the last president's salary because this president does not compare to the last president."

So is this a backhanded way of saying "Loftin, you $uck3d and I'm glad you're gone"? If so, that is totally classless.

Wonder where the "allknowing" administration apologist is tonight instead of here cheering Young on while upbraiding the critics.

WildHare

I suppose it takes more 'dollars' than 'sense' to bring visionary leadership to the university that John Sharp has projected in his mind. I almost can not wait for Michael Young to join the Aggie Nation and do GREAT things.

[wink]

obasfirst

Sounds like Sabio!

FYI; University of Washington's ranking on US News has been slipping (although only slightly) since Young became president; from #41 in 2011 (before he started) to #48 in 2015.

tx2mt

Here are the executive compensations for Presidents at public colleges for fiscal year 2013.
http://chronicle.com/article/Executive-Compensation-at/146519/#id=table
Interesting to see who is second on the list.

My Observation

1 Million plus a 200K housing allowance. That will allow Young to mortgage quite a nice abode in College Station, probably in Pebble Creek.

What happened to the cost savings, John Sharp? You could have saved TAMU 200K annually of taxpayer dollars by letting the prez stay in the prez rez but no, you had to open it to big time donors.

This sounds like corporate CEO pay and Sharp proves once again that A, he wants to run A&M like a corporation and B he is NOT a good steward of taxpayer dollars. Young is grossly overpaid while faculty at A&M continue to be underpaid. Shame on the top heavy administration and self serving BOR for allowing this to happen in such a gross and blatant manner.

obasfirst

I thought he came to A&M because of the university, the students, values, and such.

A $147K pay raise (not including allowances and bonuses) combined with a much lower cost of living seems a more plausible explanation.

Now, it's more clear where the money from the latest hiring freeze is going to: "enhance the university's core mission of teaching, research and engagement/outreach"

Or to use Sharp's words:
"Texas A&M System has the potential to become "the most administratively efficient university in the nation"

nn

"According to a post on Young's Facebook page, he finished his three-year tenure as
president of the University of Washington last week, where he was paid $853,000
annually."

BTW, the University of Washington is among their peers the one which pays the lowest salaries to their faculty.[wink]

SDW

They'll figure out in a year or so he's a bust. By then he'll be a instant millionaire thanks to our tax dollars.

William Johnson

If Bowtie was worth $425,000, then Young is being grossly underpaid.

nn

The future will tell, I am not signing on premature praises...

beautifuletdown07

Someone who makes $1,000,000 a year definitely needs a $200,000 housing allowance - especially when there's no existing place for him to live.

Kade

Remember the controversy when Frank Vandiver, as president, had to be given a raise to $100,00 so he'd make the same as the football coach? No wonder there's budget problems when you're paying this guy $1 million! This at a time when they decided not to fill needed open staff positions (and isn't the president a staff position anyway? He certainly doesn't teach any courses). I don't buy that manure about having to pay big money to get qualified people. You're just getting greedy people who want to line their pockets. That extra $900,000 could be put to better use to provide adequate staffing (properly paid), more faculty, and more money for teaching equipment.

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