President Clayton Rose has voluntarily reduced his salary “well in excess of 20 percent,” as of April 1. The move, announced in the April 29 virtual town hall with students and subsequent email to the College community on April 30, comes in the face of financial losses the College has incurred as a consequence of the coronavirus (COVID-19) pandemic and switch to remote learning.
“It was my decision, and I felt that it was important and appropriate given the crisis that we are in and the likely financial stress that we are going to be under for some time,” Rose said in a phone interview with the Orient.
According to the Chronicle of Higher Education, Rose’s salary in 2017 was $517,513.
Rose declined to specify precisely how much his pay has been reduced, but he clarified that the reduction will remain in effect through the 2020-2021 academic year. Rose also confirmed that he is the only administrator at the College who has taken a pay cut at this point.
The Orient previously reported the College has spent more than $6 million on COVID-19 related expenses since March 11, and it anticipates spending in excess of $8 million by the end of the fiscal year on June 30.
Rose’s decision follows announcements by many colleges and universities that senior administrators—including presidents, provosts and deans—took pay cuts that range from 10 to 20 percent.
Rose first announced the decision during the town hall, which he hosted with Senior Vice President and Dean of Student Affairs Janet Lohmann, in response to a question about pay reductions for senior administrators and the possibility of layoffs.
During the town hall, Rose did not deny the possibility of further salary reductions or layoffs, noting that subsequent decisions will be made by July 1, the formal start of the 2020-21 academic year. However, Rose noted that the reduction in his salary should not be interpreted as a harbinger of mass pay reductions or layoffs to come.
“This isn’t signaling anything. I don’t want other people to get anxious,” Rose said. “And we really, truly, haven’t decided anything about anything yet.”
All current employees of the College will be retained and paid in full for the duration of the current academic year, and Rose reiterated that job preservation is among the College’s top priorities in designing its budget for the coming year.