Harvard University's president says he is taking a voluntary 25% pay cut, though the university isn't saying what he makes or how much he is giving up.
I don’t know how compensation works in academic administration, but if there’s any vesting going on then you could “take a pay cut” but end up making more due to previous compensation vesting.
Certainly possible for public companies, but again, unsure if that could be the case for a university president…
Vesting generally requires there to be some asset you become entitled to. In private companies that’s stock, but Harvard is a non-profit (and a school) so I don’t think they have any equivelant.
Looking online, it does seem likely there are bonuses and other forms of compensation. But I think agreeing to take a pay cut is him trying to do right, or at least indicate that he’s willing to take a hit too.
I don’t know how compensation works in academic administration, but if there’s any vesting going on then you could “take a pay cut” but end up making more due to previous compensation vesting.
Certainly possible for public companies, but again, unsure if that could be the case for a university president…
Vesting generally requires there to be some asset you become entitled to. In private companies that’s stock, but Harvard is a non-profit (and a school) so I don’t think they have any equivelant.
Looking online, it does seem likely there are bonuses and other forms of compensation. But I think agreeing to take a pay cut is him trying to do right, or at least indicate that he’s willing to take a hit too.
I have no idea and feel media should give more context when they quote like that.