Penn State President Eric Barron is getting a “modest” raise.
The increase is just 2 percent and is based on what the Penn State board of trustees compensation committee calls the president’s “exceptional performance.”
Barron’s pay will go from $818,004 to $834,364. The board approved the increase Friday.
He is not the highest paid executive in the university. Football coach James Franklin gets that honor. His new contract, signed in August, puts him at a total compensation package of $5.3 million a year.
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He isn’t even the highest paid non-sports administrator. That would be Penn State Milton S. Hershey Medical Center CEO and medical school Dean Craig Hillemeier. His pay increase was also approved Friday, putting him at $953,700.
Pay raises were also approved for Senior Vice President of Finance David Gray, now at $511,476; Provost Nick Jones, who will now receive $542,532; and athletic director Sandy Barbour, who moves to $735,420.
“All of the raises are in line with the general salary increase program for the entire university,” Penn State said in a statement.
Barron and the four other executives’ raises had been delayed due to the state budget impasse, which was recently resolved.