Salary for next UNC president could top $500K

Posted May 11, 2010 12:41 p.m. EDT
Updated May 11, 2010 3:41 p.m. EDT

— The next University of North Carolina president will likely have an annual salary between $495,000 and $550,000, UNC officials said Tuesday.

In addition to the annual salary, he or she would receive a vehicle for business use, membership in the Carolina Club for business use, a residence with housekeeping and groundskeeping services, health insurance and retirement benefits, officials said.

One of the three committees handling the search for President Erskine Bowles' successor set the compensation guidelines Tuesday, but officials said the details could be adjusted during the hiring process.

"Obviously, you always hope that you can find a spectacular candidate for less, but at the same time, we don't want $10,000 to prevent us from being able to get who we want," said Hannah Gage, chairwoman of the UNC Board of Governors.

Bowles announced in February that he would retire at the end of 2010, after five years in charge of the 17-campus UNC system.

He has an annual salary of $478,000, but he donates about $125,000 of that to the university system to boost student financial aid, officials said.