New Contract And Salary For CSU's Tony Frank
Colorado State University President Tony Frank is getting a $58,000 bump in his salary.
Included in his new five-year contract, the CSU System Board of Governors will give Frank a base salary of $450,000 this year. For the next two years Frank will receive $25,000 annually as a bonus. His previous salary was $392,000.
The new contract is retroactive to the beginning of January 2013 and runs through the end of 2017.
Frank’s renegotiated salary comes after another Colorado university suffered public backlash last year.
The University of Colorado came under scrutiny in 2011 when top earning administrators - including Chancellor Phil DiStefano – received raises funded by tuition increases. DiStefano’s $49,000 raise put his salary at $389,000 annually.
CU President Bruce Benson turned down his $11,000 raise in 2011, which was instead added back into the salary pool.
According to a report given to the CU Board of Regents last year, administrators earning over $175,000 will not be eligible for a raise in 2013.
Resident undergraduate tuition and fees at CSU has gone up 136 percent in the past ten years to $8,648 while the University of Colorado has risen 166 percent since 2003 to $9,482 per year for undergraduate college of Arts and Sciences students.
Universities claim the only way to keep quality leadership is to pay them a competitive wage. According the Chronicle of Higher Education’s analysis of 190 institutions and university systems, in the 2010-2011 academic year the median total compensation for public-college presidents was $421,395 up about 3 percent from the previous year.