University of Iowa President Sally Mason will receive a 3 percent pay raise this year.
Mason’s annual salary will increase from $450,000 to $465,000. The change was approved by the state Board of Regents during its meeting in Ames. Mason took the helm at the UI in 2007 and had yet to see her pay increase, though she did receive a $50,000 bonus in 2008 which she donated to scholarship funds. She was denied a pay increase in 2008, in part because of the university’s handling of an on-campus sexual assault, and then turned one down in 2009 for budgetary reasons.
Regents also increased Mason’s deferred compensation program on Thursday to $125,000 annually for the next two years. It had been accruing $65,000 a year, and matures on Aug. 1, 2012.
Presidents of the two other regent universities, Iowa State’s Greg Geoffroy and University of Northern Iowa’s Ben Allen, will not see their base salaries increase this year. Geoffroy and Allen respectively make $423,316 and $320,000 annually.
The regents also eliminated a performance-based incentive program for university presidents, which began at the UI when Mason was hired and implemented at Iowa State and UNI the following year. Under that program, Mason could have received up to $80,000 in bonus money for meeting goals set during her periodic evaluations with the board.
The board evaluated institution leaders, including Mason, in closed session on Wednesday.
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