Jeffrey Gold's compensation would top $1 million as University of Nebraska system president (2024)

Dr. Jeffrey Gold could be set to receive an annual salary of more than $1 million, plus benefits and perks worth thousands more, as president of the University of Nebraska.

The University of Nebraska Board of Regents on Thursday released the key terms of a proposed five-year contract that will be up for a vote Friday when they consider Gold’s appointment as the university system’s president. The contract indicates Gold, the current University of Nebraska Medical Center chancellor, would assume his new duties on July 1.

The terms call for an annual base salary of $1,062,573 — slightly above the $1,031,624 he currently receives as UNMC chancellor and executive vice president and provost of the university system.

In addition, Gold would be eligible for annual performance-based bonuses of up to 15% of his salary, or $159,386. He also would receive annual deferred compensation equal to 11.5% of his base salary, or $122,196, a benefit he already receives as UNMC chancellor.

If hired, Gold would have use of the official residence in Lincoln that the University of Nebraska Foundation maintains for the president. The foundation would also fund a social membership at a country club of Gold’s choosing.

Foundation funds or other non-state funds would also be used to pay “reasonable travel expenses” for Gold’s wife to participate in selected university events.

Gold has said his wife of 50 years primarily resides in New York with their daughter and that he does not expect that to change. He also said he would live in both Omaha and the president’s residence in Lincoln, and that his wife “has every intention of being the first lady of the university and fulfilling every responsibility that entails.”

The university would provide Gold up to $20,000 in moving expenses and other standard benefits such as paid vacation and health insurance.

The proposed contract indicates that while president, Gold would continue to hold a tenured faculty appointment at the rank of professor in the UNMC College of Medicine as well as in the UNMC College of Public Health.

The total compensation package appears to be less than what the university paid its previous president, Ted Carter.

Carter’s annual base salary when he left was about $963,000, slightly less than Gold’s base. He was eligible for the same 15% annual bonus, 11.5% in deferred compensation and use of the residence as are in Gold’s proposed contract.

But Carter also received a second privately funded deferred compensation package that paid him $340,000 for every year he stayed on the job, beginning in 2023. He received one such payout before he left in December to become the top leader of Ohio State University.

The foundation currently provides top university leaders an expense account for university-related entertaining. Though not spelled out in the contract, a university spokesperson said Gold would continue to have such an account as he moves from UNMC chancellor to president.

The proposed contract would limit Gold’s ability to earn outside compensation, with board approval required for him to serve as a compensated member of any for-profit organization.

The regents on March 20 named Gold their priority candidate to replace Carter as the university’s ninth system president.

Friday’s vote will be on Gold’s appointment to the president’s post as well as the proposed key terms of the contract. The vote is set for 1 p.m. at Varner Hall in Lincoln.

The regents would vote at a future meeting on Gold’s actual final contract.