Michael Young Will Earn $802,000 as University of Washington President

michael young UW.jpg
Michael Young, the University of Washington's incoming president, will not make as much as predecessor Mark Emmert, whose $900,000 in total annual compensation was sticking in more and more people's craws as the economy turned south. But he's going to come pretty close, with an annual compensation package amounting to $802,000, the university announced today.

That's almost double what he earned as president of the University of Utah. He will have to stay five years to get the full amount, since $193,500 of that money will be put aside every year as a retention bonus, to be awarded in 2016.

He receives another juicy perk if he continues past that time: an eight-month paid sabbatical. (Professors, in contrast, are entitled to a paid sabbatical after seven years.)

And Young, like all UW presidents, gets to live in a turn-of-the-century mansion called Hill-Crest (pictured at left). The place was recently restored, as described by a 2007 article in the alumni magazine Columns:

The refinished fir flooring sparkles, as does the wood paneling in the library and entry hall. The kitchen remodel replaced worn-out appliances with energy-efficient models, new cabinets and granite countertops. Outside, the garden is undergoing an extensive renovation and was recently featured on a local TV gardening show.

All in all, a sweet deal for the 61-year-old prez, who gets the additional cost-free bonus of escaping the fallout from his divorce--which, as he told The Seattle Times last week, is not an easy thing in Mormon Utah.

Surely, the university could have gotten away with paying less. But the University Board of Regents, which approved the contract (see pdf), framed it as a compromise. Board chair Herb Simon called it "fair" to Young and reflective of "the economic conditions the state of Washington is facing."

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