University of South Florida President Judy Genshaft gets $166K bonus

9:22 PM, Dec 6, 2013   |    comments
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Tampa, Florida - University of South Florida President Judy Genshaft has been awarded a $166,250 performance bonus. 

The bonus or stipend, which is allowed under her contract, was approved this week by the USF Board of Trustees.

In addition to the performance stipend, Genshaft contract calls for an annual base salary of $470,000. She also gets an annual $100,000 retention stipend that she keeps if she serves 3 years or more. In addition an amount equal to 12% of her salary is set aside each year in an annuity for her retirement and Genshaft also gets a car and a house on campus.

All totaled Genshaft earns more than $685,000 a year as head of the university.

CLICK: USF President Judy Genshaft's contract

An editorial in the student newspaper recently noted the performance stipend Genshaft was getting could have covered the salaries of a couple of more instructors at USF or covered the budget shortfall that earlier this year threatened the hours at the main USF library.

STORY: USF Library hours reinstated after student protest

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"Way too overpaid," said USF junior Dwight Kemp when asked about the recently approved stipend.

"I'm a student that goes here, I'm taking out all types of grants, (there's) plenty of things that that money could of went to," Kemp added.

For comparison, in October USF faculty members were given pay raises ranging from $1,000 to $1,400 according to the school's media relations office. Plus, Genshaft is working on future performance based salary increases for the facility according to the school.

Yet in the world of higher education a higher pay for university heads is the norm. The Chronicle of Higher Education lists Genshaft as the 22nd highest paid leader of a public university and the third highest in the state behind those leading the University of Florida and the University of Central Florida.

"I think she deserves it, she's definitely a good President, she does a lot for the school and the university," said USF sophomore Tiffany Smith.

"She always puts students first," added USF junior Andrie McKay.

The money for the stipend comes from the USF Foundation not taxpayers. The majority of Genshaft's base salary also comes from the Foundation.

Genshaft's contract runs through 2016.

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