Job Perks: Ohio State president could get $208K bonus this week

Ohio State University’s president could end the week with a raise and a bonus.

OSU’s board of trustees is set to vote Friday on whether to give university president Michael Drake a 25-percent bonus and a 2-percent raise.

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Drake’s base salary is around $832,000, meaning after a 2-percent raise he would make almost $849,000, according to board documents. If the board approves the proposed 25-percent bonus, Drake would get another $208,080 on top of his salary.

Drake brought in $1.03 million last year, making him the highest compensated college president in the state, according to the Chronicle of Higher Education. If the raise and bonus are approved by Ohio State’s board of trustees, Drake would net around $1.057 million.

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The raise and bonus are based on an annual performance review of the OSU president.

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“The talent and compensation committee has reviewed the performance of the president for fiscal year 2017 and believes that President Drake has demonstrated excellent progress and achievement with regard to the performance of goals,” the presidential review and compensation document states.

The board will also set Drake’s 2018 goals which include maintaining Ohio State’s stature and leadership in higher education, while also increasing accessibility and affordability, among other things, according to a list of goals provided to the board.

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