Taking a cue from private industry, more universities are giving performance bonuses to their chief executives. And Arizona is no exception.
This week, the presidents of Arizona State and the University of Arizona could each get up to $40,000 in bonuses for this year, with the potential to earn up to $260,000 in total bonuses over three years. The Arizona Board of Regents, which oversees the state universities, will vote Thursday on giving ASU President Michael Crow and UA President Ann Weaver Hart $40,000 bonuses.
The trend mirrors the private sector, in which merit pay or bonuses have been common for years. Northern Arizona University President John Haeger doesn’t have a performance bonus in his contract, but the regents will propose adding one on Thursday.