Wednesday, December 3, 2008

Pitt Holds Line on Pay

The University of Pittsburgh Compensation Committee has decided to freeze the salaries of the University’s top officers. The move came after Chancellor Mark Nordenberg recommended that the committee hold the line on pay raises in light of the faltering economy. The committee praised the work of the Chancellor and the senior executives saying they deserved substantial pay raises based on performance and peer pay levels but noted the need to keep an eye on expenditures. When the University’s board first approved an operating budget in August it included a salary increase pool of 4%. Those increases are usually tied to performance and are not awarded until later in the year when the administrator’s performance can be reviewed. Committee Chair Ralph Cappy says “It may seem incongruous that the University has just moved through what may be the best year in its history, yet … officers receive no salary increase. However the committee understands we are moving through tough times…”

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