Saturday, August 9, 2014
COLUMBIA, S.C. (AP) -- The president of the University of South Carolina is getting a raise and his total compensation could top $1 million in three years.
The State newspaper reports that the university trustees recommended on Friday that the USC Foundation increase the portion of Harris Pastides' compensation that comes from private foundation funds to about $504,000 a year. That's an almost $109,000 increase.
His state base salary of almost $290,000 remains the same.
The newspaper reported that the board also recommended Pastides get foundation bonuses in each of the next two years. That, combined with a bonus he is already scheduled to receive in 2017, would bring his salary to more than $1 million by then.
The newspaper reported while the foundation must approve the increase, that is considered a formality.