Rutgers Prez's Pay Package: $747K

Thursday, Sep 27, 2012  |  Updated 11:21 AM EDT
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Rutgers Prez's Pay Package: $747K

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Robert Barchi is the 20th president in the history of Rutgers University.

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The new president of New Jersey's largest public university stands to earn almost $200,000 more than his predecessor.

A letter of agreement obtained by The Record newspaper shows Rutgers University President Robert Barchi's compensation package could top $747,000.

Barchi will receive $650,000 in base salary and is eligible for a $97,500 bonus. He also gets a house, car and other perks.

Previous Rutgers President Richard McCormick earned $550,000 and was eligible for a $100,000 annual bonus.

Rutgers board chairman Ralph Izzo tells the newspaper many schools the same size pay more.

“We’re hiring someone to run a 60,000-student university,” Izzo told the Record. “His unique background made us quite excited to get him.”

Barchi was paid $1.4 million at his previous job leading Thomas Jefferson University in Philadelphia.

 


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