Fanshawe’s President could soon be seeing the big bucks.
A proposal by college boards across the province could drastically increase executive compensation. All 24 colleges recommended increases for their Presidents and Vice-Presidents, some by as much as 55%.
Here at Fanshawe, President Peter Devlin’s salary could increase by as much as 42% if the Board of Governors approves the maximum.
Last year, Devlin relieved $282,000 in compensation. The proposed change could put his salary at over $400,000.
OPSEU local 110 President Darryl Bedford represents unionized faculty at Fanshawe. He says the presidential pay hike is wasteful in times when colleges are tightening their fiscal belts.
“The colleges say, ‘well we don’t have money to do this, we don’t have money to hire more people, we don’t have money to impove the quality of certain programs,’ however, they do seem to have money for executive compensation,” said Bedford.
While colleges consider larger salaries for senior administration, faculty here at Fanshawe had their salary frozen for two years from 2012 – 2013.
Last years increase for unionized faculty was less than 2%.