Robert Caret, the incoming president of the University of Massachusetts, will make about $550,000 a year in salary and benefits, including a housing allowance and deferred compensation -- a similar package given to UMass president Jack Wilson, James Karam, chairman of the UMass board of trustees said today.
Caret, president of Towson University in Maryland, will start at UMass on May 1 and is in the process of purchasing a condo along downtown Boston's waterfront, said Karam, who spoke after trustees approved Caret's contract.
His base salary is $425,000 a year, putting him in the 65th percentile among the nation's presidents leading public and private universities of similar size, Karam said.
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Glen Johnson is Politics Editor at boston.com and lead blogger for "Political Intelligence." He moved to Massachusetts in the fourth grade, and has covered local, state, and national politics for over 25 years. E-mail him at email@example.com. Follow him on Twitter @globeglen.