Syverud to earn nearly $3M in 1st year as University of Michigan president
Kent Syverud received a first-year package of nearly $3 million to be the University of Michigan’s next president. The base salary exceeds his SU salary by $800,000 and positions him among the highest-paid public university leaders. Bela Fischer | The Michigan Daily
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The University of Michigan offered outgoing Syracuse University Chancellor Kent Syverud a $2 million base salary to serve as its next president, positioning him among the highest-paid leaders of a public university in the nation.
UMich awarded Syverud a first-year compensation package of nearly $3 million, including his total salary and indirect benefits, Bridge Michigan reported Wednesday. The package is a $1 million raise from his 2024 compensation at SU, which totaled around $1.76 million, according to a tax report by ProPublica.
Syverud confirmed Monday that he will become UMich’s next president, months after announcing in August he would step down as SU’s chancellor at the end of the academic year.
He will replace interim President Domenico Grasso, a former UMich-Dearborn chancellor who has led the university since May after former UMich President Santo Ono’s resignation. Syverud will be the third president of UMich in five years and its first alumnus to hold the role in nearly a century, the Associated Press reported.
Syverud’s $2 million base salary at UMich exceeds his 2024 SU pay by more than $800,000 and is $700,000 higher than Ono’s 2024 salary. Nancy Cantor, Syverud’s SU predecessor, was among 30 private college leaders to make more than $1 million in 2008.
The package could set a record for public university presidents, James Finkelstein, a university contract expert, told Bridge. In a statement to Bridge, UMich Director of Public Affairs Kay Jarvis said presidential compensation packages reflect the “vast scale” of the university’s federal research portfolio and healthcare enterprise, designed to support “strong governance” and “effective institutional management.”
“Kent Syverud’s total compensation aligns with the market for similar highly complex public and private entities,” Jarvis said. “He is exactly the right person to lead the university during these difficult times for higher education, and our community is proud to welcome him back.”
Syverud will begin his new position July 1. SU’s chancellor search committee plans to announce its new leader later this semester.
