A consultant has told the University of Florida that it will need to offer a total compensation package of up to $1.25 million to be competitive in its search for a new president.
The university's search subcommittee on Monday heard from consultants as it continues its search to replace Bernie Machen, UF's 11th president, who will step down at year's end.
Committee chairman Bill Heavener told The Gainesville Sun that the president's job is complicated, and that like-sized universities like Ohio State and Penn State pay similar rates.
Total compensation includes salary, housing, car allowance and health and other benefits. The school is also spending $5 million on a new president's mansion.
Another consultant told the board that the price is being driven by the market. Seven other universities are also seeking presidents.