WEST LAFAYETTE – Outgoing Gov. Mitch Daniels could earn about five times as much next year as president of Purdue University than he did last year leading the state of Indiana.
Purdue’s board of trustees’ compensation committee approved a contract Friday to pay the 63-year-old two-term governor $420,000 a year in base salary under an incentive-based contract to be the school’s president, the Journal & Courier reported. His pay could reach $546,000 a year with his performance being graded on issues such as student debt, student achievement and fundraising.
The full board will vote on Daniels’ contract during its meeting today.
Outgoing Purdue President France Cordova was paid $475,997 plus deferred compensation for a total $555,000. Daniels will not receive deferred compensation.
Daniels’ last day as governor is Jan. 14.
He begins work at Purdue the next day.