An recent op-ed piece ("Paying too much for U. president," April 27) incorrectly reports the salary of the president of the University of Utah. The president's salary, as set by the State Board of Regents, is $348,000; not the amount stated in the op-ed piece.
In addition to his salary, the president was eligible to potentially receive a retention incentive funded by private donations, which vested only if he stayed a specified time (five years in this instance). The higher figure referred to in the op-ed piece includes the five-year vested amount, which happened to have been paid out in fiscal 2009 and is not his annual salary.
Given the return on investment the state receives from the university, including more than $2 billion in non-state funds annually and the creation of dozens of new companies that employ hundreds of workers who generate millions of dollars in economic activity and state taxes, the salary paid to the university president is a bargain.
Randy Dryer: chair, board of trustees
University of Utah