The Florida State University Board of Trustees on Friday unanimously increased President John Thrasher’s compensation by 17.8 percent, after giving him a positive job review for his efforts leading the university.
Thrasher’s base pay will increase 10 percent from $473,827 to $521,210.
He additionally will receive $130,302 in deferred compensation and a $100,000 performance bonus, which was the maximum allowable under his contract.
With a $10,800 vehicle allowance, Thrasher’s total compensation for the 2016-17 academic year will be $762,312, up from $647,304 last year.
The trustees also voted to remove the bonus cap from Thrasher’s contract, meaning he could earn more or less than $100,000 in bonus payments in future years.
The increase would make him the sixth-highest paid president among Florida’s 12 university leaders based on the 2015-16 salaries, with many presidents, like Thrasher, now undergoing job reviews and pay adjustments.
University of Florida President Kent Fuchs was the top earner last year, with a compensation package of about $1.2 million.
A former state House speaker who took over the presidency of his alma mater in November 2014, Thrasher helped FSU increase its “pre-eminence” funding from $25 million to $35 million in the new state budget.
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