Shirley gets left out in the rain
Economy blocks pay raise for U of M president, who remains one of the lowest paid executives among her peer group
By: Ryan Poe
Issue date: 11/20/08 Section: News
Though President Shirley Raines did not get a raise this year, her salary climbed about $40,000 last fiscal year, a raise some are questioning after several years of financial problems at The U of M.
Matt Bell, a grad student in secondary education, said if the economy continued plummeting, Raines should consider sacrificing some of her salary for students.
"If programs that benefit students are having to cut back their budgets, President Raines should have to cut hers as well," Bell said.
Even after the raise, Raines is still one of the lowest paid executives in her peer group of 11 schools, receiving a salary of $297,848. Her salary is up 13 percent from last year, when she made $258,998. Her total compensation, which includes both her salary and perks such as her house, car and expense account, is about $329,193 this year. Raines received $290,643 in total compensation in the fall of 2006.
Despite a dismal economy, public universities across the nation are forking out more than ever for their executives. College presidents' median pay and benefits rose 7.6 percent, to $427,400, according to a recent survey of 184 public research universities by The Chronicle of Higher Education.
The average college president's salary in 2006-07 was $503,071 among the peer group, which includes the University of Arkansas and the University of Alabama. Among The U of M's peer institutions, the highest compensated president is Carl Patton of Georgia State University who received $727,487 in total compensation last year. Nationally, the highest paid public university president is Gordon Gee of Ohio State University, who makes over $1.3 million a year, reported The Chronicle.
But thanks to the troubled economy, Tennessee has frozen all the raises it promised to higher education employees like Raines, said Mary Morgan, TBR spokesperson.
"We didn't do any increases this year because of the economic downturn," she said.
In Tennessee, the chancellor of the Tennessee Board of Regents is the one who recommends raising a college executive's salary. Chancellor Charles Manning proposed Raines' pay increase in 2006 after a salary study showed Tennessee was falling below the national average.
Matt Bell, a grad student in secondary education, said if the economy continued plummeting, Raines should consider sacrificing some of her salary for students.
"If programs that benefit students are having to cut back their budgets, President Raines should have to cut hers as well," Bell said.
Even after the raise, Raines is still one of the lowest paid executives in her peer group of 11 schools, receiving a salary of $297,848. Her salary is up 13 percent from last year, when she made $258,998. Her total compensation, which includes both her salary and perks such as her house, car and expense account, is about $329,193 this year. Raines received $290,643 in total compensation in the fall of 2006.
Despite a dismal economy, public universities across the nation are forking out more than ever for their executives. College presidents' median pay and benefits rose 7.6 percent, to $427,400, according to a recent survey of 184 public research universities by The Chronicle of Higher Education.
The average college president's salary in 2006-07 was $503,071 among the peer group, which includes the University of Arkansas and the University of Alabama. Among The U of M's peer institutions, the highest compensated president is Carl Patton of Georgia State University who received $727,487 in total compensation last year. Nationally, the highest paid public university president is Gordon Gee of Ohio State University, who makes over $1.3 million a year, reported The Chronicle.
But thanks to the troubled economy, Tennessee has frozen all the raises it promised to higher education employees like Raines, said Mary Morgan, TBR spokesperson.
"We didn't do any increases this year because of the economic downturn," she said.
In Tennessee, the chancellor of the Tennessee Board of Regents is the one who recommends raising a college executive's salary. Chancellor Charles Manning proposed Raines' pay increase in 2006 after a salary study showed Tennessee was falling below the national average.