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ISU's Bowman gets retention bonus in new contract

Mon, 29 Oct 2012 15:13:27 CDT
By: Charlie Schlenker

ISU President Al Bowman will get a $100,000 retention bonus if he stays all four years of the contract just approved by the Board of Trustees. Board Chair Michael McCuskey says he's pleased at the duration of the contract.

"It shows President Bowman's love of the university, his commitment to the community, his willingness to stay."

McCuskey defends the amount of the bonus as a good deal.

"This is modest in the world of presidential compensation. It is almost always a bonus equal to the salary and many times in excess of the salary."

McCuskey also said some universities even have parachutes for top administrators who fail. He alluded to a U of I President who had a fall back position as a tenured professor written into his contract. ISU and other Universities also use that practice. The contract sets Bowman's salary at $400,000 a year after an announced campus wise salary hike goes into effect.

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