During a meeting on Wednesday, the UCF Board of Trustees recommended to freeze President John C. Hitt's base salary next year, but award him an increase in a possible performance pay.
The approval of the performance pay that would be awarded to Hitt is based on UCF's performance between 2012 to 2015. Hitt would receive $158,025, while UCF's vice presidents would receive a combined $206,214.
With Hitt's base salary being $505,730, the increase would likely result in an additional 2 percent in his compensation.
"A review of President Hitt’s compensation by consultant Paul McConnell determined that his pay is below market for university presidents," UCF spokesman Chad Binette said in an email. "The one thing that can make it competitive is the performance pay that he receives if UCF achieves key goals set by the trustees."
The stated goals relate to topics including graduation and retention rates for students, research funding and philanthropy.
"This comprehensive review clearly concludes that President John Hitt, as noted in previous reviews, has served the University of Central Florida in a superb manner without any diminution in managerial prowess or institutional achievements," consultant Constantine Curris said.
Marina Guerges is the Editor-in-Chief at the Central Florida Future. Follow her on Twitter at @marinaguerges or email her at MarinaG@CentralFloridaFuture.com.