By Lucy Leske, Education Practice Leader
Compensation and benefit packages for college and university presidents attract considerable attention, especially among presidents themselves. While there is plenty of information available on cash compensation for presidents, there is little on severance.
In response, Witt/Kieffer and the global consulting firm Mercer have partnered to conduct a survey of severance practices for the chief executive position (President or Chancellor) among nonprofit colleges and universities (both public and private institutions).
The report based on the survey compiles responses from 69 institutions, and analyzes how many presidents have severance built-in by contract or by negotiation, and then what types of benefits, contingencies, and durations these packages include.
Severance is a critical component for candidates during contract negotiations, for the institution in making industry-aware offers, and for current presidents and chancellors to have a thorough knowledge of.
Lucy Leske is the leader of Witt/Kieffer’s Education practice.
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