By Scott Kennedy and Mark Coffman
VCU InSight
RICHMOND, Va.- Many students and faculty have been meeting VCU’s President-elect Michael Rao, who will take over as VCU’s President on July first.
His current salary is $302,357 a year as President of Central Michigan University, which has 27,354 students. In comparison, VCU has 32,284 students.
In the midst of an economic recession some members of the VCU community are questioning Rao’s compensation package.
President Rao’s compensation package will total over $890,000. The package breaks down like this:
• $488,500 yearly salary
• $ 66,500 deferred compensation
• $ 60,000 housing allowance
• use of a car
• $275,000 signing bonus
In a time when VCU is planning program cuts, student tuition increases, and some job cuts, VCU Sophomore Kyle Horan finds Rao’s compensation package insulting.
“I just don’t agree with it at all. I think that me suffering, me having to pay for loans so he can have more money is just wrong you know. It’s just not right,” said Horan.
The week after the Board of Visitors announced Rao’s appointment a group of concerned students posted a sign on the VCU Student Commons. It equated Rao’s salary with trips to a campus dining facility, student tuition, and faculty salaries. Commons staff quickly pulled it down.
Neither VCU Faculty Senate President Dan Ream nor Vice-President Linda Corey were available to speak with VCU InSight on camera.
But Ream did respond via e-mail. He said, “Rao’s salary package (like President Trani’s) is really for two jobs– President of VCU and also President of the VCU Health System, and it’s the latter job that pays more than the VCU President’s job.”
VCU sophomore Grant Rice said he thinks Rao’s compensation is fair for the job he will be doing.
“It’s a big responsibility so I feel like the pay is somewhat. I can see why it can be frustrating and why it can cause problems. But it’s clearly a big responsibility what he’s doing, so I think the pay is fair,” says Rice.
Student Jaleesa Mayo jokes about taking a proactive approach to the situation.
“I don’t understand. I want to change my major. I want to be the President of a university. I’ll do Public Relations or something, I don’t know. But I want to be a President, I know,” Mayo said.
