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)
“Thy due from me
Is tears and heavy sorrows of the blood,
Which nature, love, and filial tenderness
Shall, O dear father, pay thee plenteously.”
—William Shakespeare (1564–1616)
“The whole cut impressed me as if it were a cave with its stalactites laid open to the light.”
—Henry David Thoreau (1817–1862)