Voluntary Pay Cut
On November 21, 2008, Floyd asked the WSU Board of Regents to cut his pay by $100,000 in light of the difficult budget the university was facing. Floyd's salary had been increased from $600,000 to $725,000 in August, making his salary $625,000 after the reduction. It is the largest known salary-reduction of a university president. Floyd said he wanted to "lead by example." Two other university presidents gave self-imposed cuts that week as well. As of June 16, 2009, Floyd announced an additional 5% cut to his salary along with other executive board members.
Read more about this topic: Elson Floyd
Famous quotes containing the words voluntary, pay and/or cut:
“Her voluntary fruits, free without fees;”
—Torquato Tasso (1544–1595)
“I can and will pay it if it is right; but I don’t wish to be “diddled!””
—Abraham Lincoln (1809–1865)
“You realize the futility of worry. You learn to hate the small and the little. Life is a pie which you cut in large slices, not grudgingly, not sparingly. You know your limitations and proceed to eliminate them; your abilities, and proceed to develop them. You are free.”
—Alice Foote MacDougall (1867–1945)