Golden Parachute for Departing Illinois President
Michael Hogan, who is leaving the University of Illinois System presidency after two controversial years in which he angered many faculty leaders and some campus administrators, isn't departing the executive suite without a nice compensation package. The Chicago Tribune reported that he will get a one-year sabbatical before becoming a history professor at a system campus of his choice. In that role, he is assured a starting salary of $285,100 -- the average of the 10 faculty members with the highest salaries in the university system (excluding medicine and dentistry). Hogan's salary is $651,000 this year. He will receive $67,500 in deferred compensation in 2015. He would have received an additional $157,500 had he stayed for an additional three years.