Barchi receives bonus, donates it to Rutgers
The Rutgers Board of Governors’ executive committee awarded University President Robert L. Barchi a $90,000 bonus that he plans to donate back to the school, according to nj.com.
After a closed-door performance review last week, the committee reviewed goals set for the president as well as Barchi’s self-evaluation form, and decided to give him the bonus on top of his $650,000 annual base salary.
The bonus was just shy of the maximum $97,500 in annual incentive compensation Barchi is eligible for under his contract, according to the article.
Gerald Harvey, chairman of the BOG, applauded Barchi in a letter informing him of the bonus last Monday.
“We are delighted with the progress Rutgers has seen this past year, and we thank you for your dedication and leadership,” he wrote.
Two days later, Barchi responded with a thank you to the committee and an announcement that he and his wife, plan to donate the bonus to help Rutgers students pay for tuition.
“Given that we are currently in a year of fiscal restraint and that we are asking our faculty, students and staff to do more with less, Francis and I intend to gift the net proceeds of this incentive compensation to Rutgers,” Barchi wrote to the board.