Friday, June 12, 2009

Penn State Compensation and Salary Data: Performance Bonuses

For several of the individuals in Penn State Right-To-Know Report 2009 both salary and compensation data is reported. Hence one can get an idea of their performance bonuses.

All of the officers of the University received current compensation only in the form of salary with the exception of Harold Paz, CEO of Hershey Medical Center. Hence none of the officers, with the exception of Paz, were paid any bonuses in the 2007-2008 fiscal year. In fact, the only ones that received current compensation other than salary were coaches or doctors.

Don't feel sorry for Graham. While he only received a salary, he is listed as having received $206,035 in contributions to benefits and deferred compensation plans. This is the largest amount, by far, that anyone got. Most individual received amounts in the $30K range . Hence, it's a fair bet that Graham's performance bonuses came in the form of deferred compensation. It would be very interesting to know what benchmarks Graham had to meet to get any bonus. That would give us some idea of the true priorities of the Board of Trustees.

Paz received $755,996 in current compensation of which $630,000 was in salary. He received and additional $126,808 in benefits and deferred compensation. Hence it appears that his bonuses in total approached Graham's numbers.

All of the five highest compensated individuals received some compensation in addition to salary. JoePa's total compensation was $1,037,322 on a base salary of $527,748. His benefits and deferred compensation weren't anything unusual. So doesn't look like Joe took his bonus money in deferred compensation. I'd say that's a wise move for an 82 year old. By the way, I wonder how big a bonus he got for keeping his team mostly out of trouble this year.

Head Men's Basketball Coach Ed Dechellis had total compensation of $632,283 on a base salary of less than $382,464. We don't know his actual base salary, but he didn't make the list of top 25 salaries, so we can be sure that his base salary is less than the smallest salary in the list. He doesn't appear to have taken any deferred compensation. Next year's report will give us some idea of how much a winning season is worth for Dechellis.

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Fitz said...

Well, that explains why when JoePa's salary was first outted two years ago it was half of what it I saw on that report.

Stephen said...
This comment has been removed by a blog administrator.
Veblen said...

I've deleted two comments, one on this post and one on the previous post, which superficially were pro-Penn State. They were in fact spam directing people to a job search Web site. I'm explaining these deletions because I don't want anyone to think that I'm censoring comments.