Purdue awards Mitch Daniels more than $200,000 in at-risk pay
WEST LAFAYETTE, Ind. — Purdue University’s Mitch Daniels received more than $200,000 in at-risk pay after the university evaluated his performance in a variety of areas.
The university said Daniels, Purdue’s president, received 96 percent ($201,600) of the $210,000 in performance-based incentives he was eligible for. Daniels will receive that money in addition to his base salary of $420,000.
He’ll also get a $100,000 “retention incentive” for staying at Purdue until the end of the 2016 fiscal year. Trustees implemented the bonus to encourage Daniels to stay in West Lafayette through the full term of his contract through 2020.
Trustees Chair Mike Berghoff called Daniels an “extraordinary president” at an “extraordinary institution.” Berghoff said graduation rates for all students are up. Purdue has its largest enrollment ever and its most academically prepared preparing entering class.
The university set records in fundraising, bringing in $332 million during the fiscal year ending June 30. The university also touted records in research awards, patents and startups for the period.
Daniels’ at-risk salary is based on performance goals set by trustees in four areas: Student Affordability (25 percent), Student Success (25 percent), Fundraising (30 percent) and Institutional Reputation and Excellence (20 percent).
Tom Spurgeon, chair of the board’s Compensation Committee, said Daniels was awarded 22 percent for student affordability, 25 percent for student success, 29 percent for fundraising and 20 percent for institutional reputation and excellence.
In 2013-2014, Daniels received 88 percent of his at-risk compensation; in the 2014-2015 school year, he received 90 percent of it.
The Board of Trustees and Daniels revise the goals each year and mutually agree on them. Any changes are adopted before the December board meeting.
You can see a breakdown of Daniels’ at-risk goals and pay here.