This post originally appeared at https://wisconsindailystar.com/news/raise-and-retention-bonus-lift-wisconsin-chancellor-compensation-past-1-million/tcsquare/2024/07/10/
by Benjamin Yount
A raise of 10% and a retention bonus will lift Chancellor Jennifer Mnookin of the University of Wisconsin past $1 million in annual compensation.
University regents met Monday and approved the deal. Mnookin’s salary rises from $811,512 to $892,663 next year. The bonus is $150,000.
Regents also agreed to give Mnookin (pictured above) $50,000 retention bonuses in 2026, 2027, 2028 and 2029.
A university spokesman said her raise and bonuses keeps pace with other Big Ten universities. The league’s recent expansion is to 18 schools, expanding the footprint from Los Angeles and Washington on the West Coast to New Jersey on the East Coast.
Walter “Ted” Carter left Nebraska, where he made $1.2 million annually, to become president at Ohio State. His base salary is $1.1 million and the perks and benefits push the annual compensation to nearly $2 million per year. His contract is through 2028.
Penn State President Neeli Bendapudi has a base salary of $950,000. She was approved this month for $550,000 a year in deferred compensation, an annual supplemental to her retirement plan; and if still with the university, she gets five-year completion bonuses of $1.25 million in 2027 and $1.5 million in 2032.
In addition to Mnookin, other university system chancellors were also awarded raises.
Regents also approved raises for the chancellors at campuses in Green Bay, Parkside, Platteville, Stevens Point, Stout, Superior and Whitewater.
Those raises range between 2% and 5%, and those chancellors will make around $300,000 next year. Bonuses are possible.
UW regents approved a bonus system for the smaller campuses which focuses on freshmen retention next year.
The raises for chancellors come after a 6% raise for all other university workers that was included in the most recent state budget.
The raises also come as enrollment at some campuses is down or flat. And the raises come as the system is closing some of its two-year campuses, and laying people off across the university system.
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Benjamin Yount is a contributor to The Center Square.
Photo “Jennifer Mnookin” by University of Wisconsin.
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