The raise represents an almost 12 percent pay hike for Dr. Collins. The three-year contract raises the chancellor’s annual base salary and deferred compensation from $524,300 to $585,290.
Under the new contract, Dr. Collins will forgo his separate $32,000-a-year housing allowance. Instead, he is required to live rent-free in a furnished house provided by the university. The five-bedroom, four-bathroom home has an assessed value of $736,000, according to the report.
According to the report, Dr. Collins had not previously received a raise since he was elected chancellor in Sept. 2008.
Read the Telegram and Gazette report on Michael F. Collins.
Read more on compensation:
–17 Statistics on Hospitalist Workload, Pay and Benefits
–3 Smart Ways to Disclose Executive Compensation at a Non-Profit Hospital
–New York Hospital CEO Salaries Remain Untouched Despite Budget Cuts
