Salary of new chancellor may differ from Ferrari
The Board of Trustees may offer the next chancellor a salary similar to Chancellor Michael Ferrari’s. Experience and past achievements will be deciding factors.
By Antoinette Vega
Staff Reporter

The Board of Trustees is apparently willing to pay the next chancellor what is necessary even if it is more than what Chancellor Michael Ferrari currently receives, said John Roach, chairman of the Board of Trustees.

Roach said the amount of money offered to a prospective candidate will depend upon his or her experience, current compensation level and expected contributions to the school.

“The board may have to pay more, less or equal to the current salary of Chancellor Ferrari,” he said Wednesday. “The executive committee of the board will negotiate with the prospective candidate.”

Chancellor Ferrari received $353,576 in total compensation during the 1999-2000 school year, according to figures from the Internal Revenue Service Form 990.

According to the Chronicle of Higher Education, Ferrari’s salary is more than college president R. Gerald Turner of Southern Methodist University and Robert B. Sloan of Baylor University. Turner earns $313,750 and Sloan earns $304,172.

Roach said the salary set by the Board of Trustees comes out of the general operating fund that includes a special endowment for the chancellor.

He said Ferrari’s salary is based on his credentials and 15 year experience at two colleges. Prior to coming to TCU, Ferrari was president of Drake University from 1985 to 1998 and interim president of Bowling Green State University from 1981 to 1982.

Roach said the board felt it was important to bring someone like Ferrari with proven capabilities in college administration and the ability to inspire confidence.

According to the Houston Chronicle, the Texas Faculty Association averages the base salary for chancellors in 2002 at $332,000, a 54 percent increase since 1992. This estimate does not include perks, deferred compensation, houses, cars, allowances and club memberships, according to the article.

The increase, according to the Chronicle, is due to schools wanting to entice qualified replacements to compete with Harvard and Yale University.

R. Denny Alexander, chairman of the chancellor search committee, said TCU is in a position financially to be competitive with the range of salaries offered from other universities looking for a new chancellor or president.

“There is no hindrance financially in finding the best person to be the next chancellor,” he said. “I don’t foresee problems attracting candidates to TCU.”

Roach said TCU deserves the best, and the board will offer compensation that allows the school to continue to exhibit that.

“Someone with academic credentials and the ability to lead fund raising efforts are among the many aspects we will look for in making TCU its best,” he said.