Eastern Michigan University’s president is getting a raise.
The Board of Regents Thursday approved a two year contract extension for Sue Martin that calls for her salary to jump to $300,889 next July and $309,915 in 2012. Next year alone, Martin’s salary will jump by more than $15,000.
A statement from the university says Martin’s annual salary of $285,000 hasn’t increased in two-and-a-half years.
Along with the salary hike, the 60-year old Martin will receive a performance bonus of $7,500 next July. At the end of her five year contract, Martin will be eligible for another $10,000 bonus.
“President Martin has led Eastern and provided EMU with a stability unmatched during this decade,” said Roy Wilbanks, chair of the Board of Regents, in the statement. “It’s been a time of significant growth in terms of enrollment and facilities, all of which occurred despite a challenging economy. We as a board are pleased to extend her contract, a move that underscores the stability and vitality at Eastern Michigan during her tenure.”
Martin said she loves Eastern and its students.
The board also amended Martin’s contract to include $10,000 in moving expenses incurred in moving to and from University House.
Eastern Michigan last summer froze tuition and fees for this school year. Enrollment has increased by seven percent over the past two years under Martin’s tenure.
The university is currently involved in an $195-million, four-year capital plan that includes construction of the $90 million Science Complex and renovations of the Pray-Harrold building.