Purdue trustees approve at-risk pay for Daniels
INDIANAPOLIS, Ind. (Inside INdiana Business) – The Purdue University Board of Trustees reviewed the 2019-20 performance evaluation for President Mitch Daniels and voted to approve his at-risk pay at 89%. Purdue says the decision was based on measures set out by the trustees in 2019.
The trustees say three main achievements were identified while making the evaluation: a $40 million grant from Indianapolis-based Lilly Endowment Inc. for the Gateway Engineering and Polytechnic Complex, completion of the Giant Leaps 150th anniversary celebration, and the opening of a second Polytechnic High School in Indianapolis.
Purdue says Daniels’ salary is based on performance goals in four areas: student affordability (20%), student success (25%), fundraising (30%) and operations (25%). In the past six years, Daniels has received 103%, 100%, 88%, 90%, 96% and 95% of his at-risk pay.
Board chairman Michael Berghoff and Tom Spurgeon, chair of the board’s Compensation Committee during 2019-20, said Daniels earned 89% of his at-risk pay this year with 22% in student affordability measures, 27% in student success measures, 12% in fundraising and 28% in operations.
Spurgeon said that Daniels reached eight of the 14 metrics that make up his at-risk pay and surpassed the goal in three of the metrics. Purdue says his only shortfalls were in fundraising and global student enrollment, both expected with the impact of the COVID-19 pandemic.
In addition to his base pay of $430,500, Purdue says Daniels will receive $191,572.50 in at-risk funds.