Both University of Iowa President Barbara Wilson and Iowa State University President Wendy Wintersteen are getting 8.3 percent pay raises this summer — bumping up their annual base pay from $600,000 to $650,000.
The Board of Regents announced those pay raises, which take effect in the new fiscal year that begins July 1, on Thursday following performance evaluations earlier this week.
Wilson’s raise comes one year after she began her tenure as UI president last July.
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On top of the deferred compensation agreement Wilson signed at the time of her hire paying out $2 million in 2026 — a result of $400,000 annual contributions for five years — the board Thursday announced an additional new deferred compensation deal paying Wilson another $200,000 in 2026.
Wintersteen this week also received a new deferred compensation plan beginning July 1, 2022 paying her a total $80,000 in June 2024. That is on top of her existing deferred compensation agreement contributing $300,000 annually through June 2023, with an eventual payout of $733,333.
She received a $475,000 payout from her first deferred compensation plan in 2020.
University of Northern Iowa President Mark Nook’s annual base pay will remain put at $357,110, but the board this week did enact a new two-year deferred compensation agreement paying him $100,000 in 2024. That is in addition to Nook’s existing deferred compensation agreement — which runs through 2025, paying him $100,000 a year, although he forfeited half that for both last year and this year due to COVID-related budgetary challenges. His total payout in 2025 will be $625,000.
Lawmakers last month agreed to increase its public university appropriations by $6.2 million in the upcoming budget year that begins July 1 — just a fraction of the $22.1 million increase the Board of Regents requested.
Of the Legislature’s $6.2 million increase, $5.5 million has been designated for general university appropriations — to be split between UI, Iowa State, and UNI.
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All three of the campuses saw slight increases in their revenue budgets from fiscal 2021 to the current 2022 budget year, which ends June 30. For Iowa State and UI, that increase can be tied to more tuition revenue. Although total enrollment has been falling across all three campuses since fall 2017, tuition rates have enabled more student income.
In addition to the presidential compensation changes, the regents on Thursday agreed to pay its Executive Director Mark Braun a $50,000 performance incentive on July 1, plus another $50,000 in July 2023 so long as he stays employed with the regents.
The board created a new deferred compensation plan for Braun contributing $130,000 annually through June 2024 — with a $260,000 payout. Braun already has in place a deferred-compensation plan paying him $210,000 in 2023.
His contract, which runs through 2024, spells out a complex compensation matrix — due to Iowa law capping his position’s pay at $154,300 a year. The state employee database shows Braun made $349,930 in the 2021 budget year.
In announcing the new pay raises, Board of Regents President Michael Richards said, “We like the team.”
“We want to continue with the same leadership team and want to keep a steady course as we go forward,” he said.
www.thegazette.com
The Board of Regents announced those pay raises, which take effect in the new fiscal year that begins July 1, on Thursday following performance evaluations earlier this week.
Wilson’s raise comes one year after she began her tenure as UI president last July.
Advertisement
On top of the deferred compensation agreement Wilson signed at the time of her hire paying out $2 million in 2026 — a result of $400,000 annual contributions for five years — the board Thursday announced an additional new deferred compensation deal paying Wilson another $200,000 in 2026.
Wintersteen this week also received a new deferred compensation plan beginning July 1, 2022 paying her a total $80,000 in June 2024. That is on top of her existing deferred compensation agreement contributing $300,000 annually through June 2023, with an eventual payout of $733,333.
She received a $475,000 payout from her first deferred compensation plan in 2020.
University of Northern Iowa President Mark Nook’s annual base pay will remain put at $357,110, but the board this week did enact a new two-year deferred compensation agreement paying him $100,000 in 2024. That is in addition to Nook’s existing deferred compensation agreement — which runs through 2025, paying him $100,000 a year, although he forfeited half that for both last year and this year due to COVID-related budgetary challenges. His total payout in 2025 will be $625,000.
Lawmakers last month agreed to increase its public university appropriations by $6.2 million in the upcoming budget year that begins July 1 — just a fraction of the $22.1 million increase the Board of Regents requested.
Of the Legislature’s $6.2 million increase, $5.5 million has been designated for general university appropriations — to be split between UI, Iowa State, and UNI.
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All three of the campuses saw slight increases in their revenue budgets from fiscal 2021 to the current 2022 budget year, which ends June 30. For Iowa State and UI, that increase can be tied to more tuition revenue. Although total enrollment has been falling across all three campuses since fall 2017, tuition rates have enabled more student income.
In addition to the presidential compensation changes, the regents on Thursday agreed to pay its Executive Director Mark Braun a $50,000 performance incentive on July 1, plus another $50,000 in July 2023 so long as he stays employed with the regents.
The board created a new deferred compensation plan for Braun contributing $130,000 annually through June 2024 — with a $260,000 payout. Braun already has in place a deferred-compensation plan paying him $210,000 in 2023.
His contract, which runs through 2024, spells out a complex compensation matrix — due to Iowa law capping his position’s pay at $154,300 a year. The state employee database shows Braun made $349,930 in the 2021 budget year.
In announcing the new pay raises, Board of Regents President Michael Richards said, “We like the team.”
“We want to continue with the same leadership team and want to keep a steady course as we go forward,” he said.
UI President Barbara Wilson and ISU President Wendy Wintersteen receive pay raises
Both University of Iowa President Barbara Wilson and Iowa State University President Wendy Wintersteen are getting 8.3 percent pay raises this summer — bumping up their annual base pay from $600,000 to $650,000.
www.thegazette.com
