The president of the University of South Florida is about to get a significant pay raise.
The university’s Board of Trustees voted unanimously Thursday to increase Judy Genshaft‘s base salary 5 percent to $493,500. The Tampa Tribune reports that with a performance-based stipend of up to $275,000, she could earn $768,500.
The school’s longest-serving president has also secured at least one more year at the helm.
The Tribune reports Genshaft has a history of meeting performance goals, approved by the board of trustees. In December she earned a full $175,000 bonus. She’s also received $100,000 retention bonuses every year under her previous contract. That bonus ends under the new agreement. Her deferred compensation will grow from $56,400 to $98,700.
Genshaft says she’s doesn’t plan on leaving any time soon.
Republished with permission of the Associated Press.