Taking Pay Cuts

The presidents of two Washington state institutions have taken a second look at their salaries and decided to forgo part of their pay, as their universities, like many across the country, are facing serious financial crunches due to budget cuts.
This past Thursday, University of Washington President Mark Emmert turned down a pay raise during a monthly meeting with the university's board of regents. In the Puget Sound Business Journal, Emmert was quoted as saying, "Right now, this is not a moment to be worried about my compensation."
Today, Washington State University president Elson Floyd requested a voluntary $100,000 pay cut, also in response to budget problems. His salary will be reduced from $725,000 to $625,000 on Jan. 1.
Top administrators at other higher ed institutions also have taken a similar lead. Presidents at three Florida universities recently turned down extra pay. Washington University (Mo.) Chancellor Mark Wrighton announced Wednesday in an e-mail he will take a 5 percent salary cut.