Bobcat Love's Sense of Shame
10/5/2020 11:49 AM
Here is what we know from a performance standpoint. Fact so far: stay 3 years get an extra $100k, stay another 3 years, get another $100k. Did Tom Boeh negotiate this?
If OHIO had given Brian Knorr a $100k bonus for staying 3 years, you guys would lose your mind. And her salary isn’t far off of Knorr’s
Retention bonuses are commonly used by employers to ensure retention through critical cycles in which said employee's function's particularly valuable.
As I mentioned in one of these threads prior, having a strong finance team's absolutely essential to the continued success (if not the continued existence) of Ohio University. Right now in particular.
I have no way to know how successful this employee's been in her role, or how good she actually is. But I can certainly see the value continuity in finance operations offers, given the state of higher ed and the challenges OU is facing right now.
We're talking about an employee who (presumably) oversees a 758 million dollar annual operating budget and who, with this bonus, makes ~360k annually, before you factor in her 10% pay cut. For comparison's sake, here are base salaries in OSU's finance department (before any bonuses):
Chief Investment Officer -- 750k
VP of Finance and Business Admin -- 610k
VP of Operations/Admin -- 430,800k
Unless I have really compelling evidence that she isn't performing well, I don't see a ton of reason to get super bent out of shape about what amounts to 33k/year in comp.
I get that the timing and optics are poor.
But we also pay our football and basketball coaches more than any two employees, and don't, you know, have god football and basketball programs. From an optics standpoint, that seems far worse to me than paying your finance lead a bonus every 3 years.
Last Edited: 10/5/2020 12:56:47 PM by Bobcat Love's Sense of Shame