2008 Woodie Awards
Hodge accepts extended contract
President to receive approximately 11 percent salary increase, bonuses
Caitlin Varley
Issue date: 1/15/08 Section: Campus
The Miami University board of trustees voted Dec. 7 to extend the contract of President David Hodge, increasing his annual salary from $340,000 to $380,000.
According to Richard Smucker, chairman of the board of trustees, Hodge's original contract was for three years and set to end in July 2008. The new contract lengthens his stay at Miami through June 2013.
Smucker said that the trustees raised Hodge's salary to be competitive and compatible with what other university presidents are currently making. He said the board performed a detailed survey of presidential salaries at all of the universities in Ohio and other universities that are comparable to Miami in terms of reputation and quality.
"The package that we put together for (Hodge) was competitive, but within reasonable guidelines," Smucker said.
Smucker said that presidential salaries are increasing because universities need quality leaders and the challenge to keep them in educational environments is greater today than ever before.
"We have to compete with businesses and other institutions so the competition is getting tougher," Smucker said.
Smucker said the main reason the board decided to extend Hodge's contract is because they think he is a fit for Miami, its history and heritage.
"We see that his vision is exactly what the university needs for the future," Smucker said.
Smucker added that since Hodge only had 18 months left on his original contract, the board wanted to make sure that he would remain at Miami.
Hodge said that he and his wife came to Miami with the expectation that this would be their last job before retiring.
Valerie Hodge, university ambassador, said the Hodges were convinced that the initial reasons they came to Miami still held true and they could continue to work toward improving the university. Valerie Hodge has an annual contract at Miami, but has made a verbal promise not to leave as long as her husband is at Miami.
According to Richard Smucker, chairman of the board of trustees, Hodge's original contract was for three years and set to end in July 2008. The new contract lengthens his stay at Miami through June 2013.
Smucker said that the trustees raised Hodge's salary to be competitive and compatible with what other university presidents are currently making. He said the board performed a detailed survey of presidential salaries at all of the universities in Ohio and other universities that are comparable to Miami in terms of reputation and quality.
"The package that we put together for (Hodge) was competitive, but within reasonable guidelines," Smucker said.
Smucker said that presidential salaries are increasing because universities need quality leaders and the challenge to keep them in educational environments is greater today than ever before.
"We have to compete with businesses and other institutions so the competition is getting tougher," Smucker said.
Smucker said the main reason the board decided to extend Hodge's contract is because they think he is a fit for Miami, its history and heritage.
"We see that his vision is exactly what the university needs for the future," Smucker said.
Smucker added that since Hodge only had 18 months left on his original contract, the board wanted to make sure that he would remain at Miami.
Hodge said that he and his wife came to Miami with the expectation that this would be their last job before retiring.
Valerie Hodge, university ambassador, said the Hodges were convinced that the initial reasons they came to Miami still held true and they could continue to work toward improving the university. Valerie Hodge has an annual contract at Miami, but has made a verbal promise not to leave as long as her husband is at Miami.
Viewing Comments 1 - 1 of 1
Tom
posted 1/17/08 @ 3:27 PM EST
I am glad to see that Miami is going to keep Dr. Hodge until 2013. However, I think an eleven percent raise is excessive. I also think that Dr. Hodge's salary is way too high. (Continued…)
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