Raise your hand if you would say no to $100,000. If your hand is up, and you are not UConn President Michael Hogan, then you are a liar. Hogan however, isn't. According to this story in the Hartford Courant, when UConn's Board of Trustees offered Hogan a $100K bonus at their meeting on Tuesday -- and he said no.
Want to know why? Find out after the jump.
According to the story, the bonus was offered to bring Hogan's salary in line with that of presidents of similar universities, who have a median salary somewhere between $660,000 and $680,000. Hogan, who makes $550,000 a year said no, requesting that the money instead be used to help fund UConn's graduate programs.
Times are tough for the school because of a three percent state budget rescission ordered by Gov. M. Jodi Rell over the summer. And although $100,000 does not come close to the millions of dollars in state funding that UConn lost, it does mean a lot symbolically. Giving up such a large amount of money at the very least shows Hogan truly does care about the school and wants to see it improve.
This is simply a win-win-win scenario. Hogan looks great personally, UConn looks great for having him as its president and if the money is given to academic programs, they will only improve.