Once again, UC stands for Ungodly Compensation.
The problem seemed to be coming under control after years of rising executive pay at the University California, angering students hit hard by tuition hikes and faculty facing salary freezes. Last summer, new UC President Janet Napolitano agreed to a salary ($570,000) that’s $21,000 less than predecessor Mark Yudof received. And over in the Cal State University system, new chancellor Timothy White took $10,000 less than the man he followed, and a half-dozen new campus chiefs went without their usual raises.
But last week, the UC Board of Regents approved the hiring of Jagdeep Singh Bachher as the university’s new chief investment officer, at compensation of $615,000 in base salary and as much as $1,014,750 with annual incentive bonuses.