USC president’s pay nears $1 million per year

COLUMBIA, S.C. (AP) – The president of the University of South Carolina will make just under $1 million for this school year under a pay package that was just approved.

The State newspaper in Columbia reports that the university’s board of trustees approved the pay on Friday. Pastides will make a taxpayer-funded salary of nearly $313,000. He will also earn supplemental compensation of about $604,000 from privately raised funds from the USC Foundation.

His future compensation would rise above $1 million if he stays at the school past 2017.

Gene Warr, chairman of the trustees, said Pastides has had a successful eight years at the school. He says Pastides is a bargain considering that he oversees the flagship campus as well as a statewide system.