The College of William and Mary President Taylor Reveley will receive a higher salary after the Board of Visitors approved a nearly $90,000 raise Friday.
Reveley will earn an annual salary of $425,000 per year, up from $335,245. Reveley’s salary is funded through both public private funds and the raise will be paid for entirely by private funds, as the state’s portion of his salary remains at $160,394. The private portion rose from $174,851 to $264,606.
“President Reveley has repeatedly refused to accept merit increases until we could do something more comprehensive for all William & Mary employees,” Rector Todd Stottlemyer said in a news release. “Thanks to his leadership, that has begun to occur.”
Reveley’s last raise to the state portion came last summer when state employees gained a 2 percent pay increase.
Reveley’s deferred compensation, a retirement fund, also rose from $62,000 to $85,000 with the Board’s approval. Stottlemyer said the long-term goal for the president’s salary was to raise it between the 50th and 75th percentile of the college’s peers by 2018. Reveley’s base salary remains just above the 25th percentile to peer institutions and his total compensation is at the 34th percentile.
