Ohio State President Drake up for a raise and $208,000 bonus


By Jennifer Smola - The Columbus Dispatch



In this Sept. 23, 2016, file photo, Ohio State University President Michael Drake addresses the Galvin Hall 50th anniversary celebration on the OSU-Lima campus. The university’s board of trustees will vote later this week on a 2 percent raise for Drake, plus a bonus of more than $208,000.


Craig J. Orosz | The Lima News, File

COLUMBUS — Ohio State University President Michael V. Drake is in line for a raise.

The university’s board of trustees will vote later this week on a 2 percent raise for Drake, plus his contract’s maximum goals-based bonus of more than $208,000.

The raise will bring Drake’s base salary to nearly $849,000 per year.

The board’s Talent and Compensation Committee, in reviewing Drake’s performance for fiscal year 2017, “believes that President Drake has demonstrated excellent progress and achievement,” according to the resolution before the committee this week.

Drake’s goals for fiscal year 2017 included advancing the strategic plans for the university and the Wexner Medical Center, improving access and affordability, generating revenue and meeting cost reduction targets.

The university has awarded Drake a 2 percent raise and the maximum bonus amounts allowed under his contract each year since he became president in 2014.

Trustees approved a new contract in April, which keeps Drake onboard at the university through 2021. That contract also boosted his fringe benefits and added a second retirement benefit.

Drake’s compensation is near the top of public university leaders’ payments nationwide. A Chronicle of Higher Education compensation database listed Drake as having the seventh-highest compensation among public college executives, according to 2016 data.

In this Sept. 23, 2016, file photo, Ohio State University President Michael Drake addresses the Galvin Hall 50th anniversary celebration on the OSU-Lima campus. The university’s board of trustees will vote later this week on a 2 percent raise for Drake, plus a bonus of more than $208,000.
http://www.limaohio.com/wp-content/uploads/sites/54/2017/10/web1_Galvin-Hall-Anniversary_04co.jpgIn this Sept. 23, 2016, file photo, Ohio State University President Michael Drake addresses the Galvin Hall 50th anniversary celebration on the OSU-Lima campus. The university’s board of trustees will vote later this week on a 2 percent raise for Drake, plus a bonus of more than $208,000. Craig J. Orosz | The Lima News, File

By Jennifer Smola

The Columbus Dispatch