Wednesday, January 9, 2013

Pay for Performance in Academia

Purdue's new president, Mitch Daniels, has taken a bold step in academia.  When he starts his job as President of Purdue later this month, his compensation will be tied to his performance.  Specifically, he has agreed to key metrics on graduation rates, student affordability, and faculty hiring and achievement.  his "variable comp" will be specifically tied to these results. 

My point in sharing this isn't that we need to suddenly change our entire compensation system.  It's simply that there are folks out there doing innovative things with compensation in academia.  I applaud Mr Daniels in this bold step. 

And yes, I'm a Boilermaker...