SACRAMENTO – The University of California Board of Regents on May 16 gave the green light to a hefty compensation package for incoming UC San Diego Chancellor Pradeep Khosla.
The regents approved a salary of over $411,000, a 4.8 percent increase from the current UCSD chancellor, Marye Anne Fox. In addition, Kholsa will receive over $100,000 as a relocation allowance on top of moving expenses, annual auto allowance, and a house.
State Sen. Leland Yee (D-San Francisco/San Mateo) said that the increases will be paid for using foundation dollars, which otherwise could go to student scholarships and other campus services. He issued the following statement:
“While I welcome Pradeep Khosla to the University of California and I appreciate at least some recognition by the regents of the fiscal realities we currently face, I cannot endorse giving yet more raises to top administrators while students continue to see tuition hikes.
“Until students are suffering 4.8 percent less, executives shouldn’t be getting 4.8 percent raises. Instead of providing nearly $20,000 more in salary and essentially a $100,000 signing bonus, UC and their foundation should be helping more students.
“I am disappointed that the regents’ priorities continue to be on lining the pockets of their wealthy executives rather than on ensuring California families can afford the UC. I am certain that we could find quality individuals like Dr. Khosla at a significantly lower salary by simply looking within the UC and other entities within California.”
Despite bipartisan support and endorsements from taxpayer groups, faculty, students and labor unions, Yee’s bill to prohibit executive pay hikes using state or foundation funds during bad budget years or when student fees increase recently fell one vote short of passage in the Senate Education Committee.