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.
