Incoming College of Charleston President Andrew T. Hsu will receive a salary and benefits package worth about half a million dollars when he arrives March 1, according to a five-year contract approved by the board of trustees.
Hsu will earn a state salary of $210,246, plus a $200,000 annual supplement from the College of Charleston Foundation. The college also intends to give Hsu a 15 percent raise on his state salary in May 2019 — and a $50,000 bonus if he remains until the end of his contract in May 2024.
His pay package also includes up to $15,000 in moving expenses and use of the president's house, an 18th century brick home on Glebe Street. It also will supply Hsu with use of a car and either enroll him in the state retirement system or contribute at least $20,000 a year toward his retirement.
Hsu will be in charge of the public liberal arts college with an undergraduate enrollment of about 10,000 students.
His state salary of $210,000 is lower than the salaries provided to presidents and chancellors at similarly-sized public colleges and universities in other Southeastern states.
Western Carolina University, for example, pays its chancellor a base salary of $345,313, according to the recent public records. College presidents also earn higher base salaries at the similarly sized University of West Florida ($331,125) and Florida A&M University ($419,650). Those schools have about 9,400 and 10,000 students, respectively.
Hsu's state salary also is below what South Carolina pays 45 of its college and university athletic coaches, according to a state Department of Administration database. Earl Grant, the men's basketball coach at the College of Charleston, earns a base salary of $651,000. Hsu's base salary is only slightly higher than that of Chad Holbrook, the College of Charleston's baseball coach, who earns $200,000.
But Hsu's pay package is more than his predecessor. Former Lt. Gov. Glenn McConnell received a package of about $300,000 when he took the helm of the school in 2013.
McConnell retired last year, and Hsu was selected as the college's 23rd president after a national search. He currently serves as provost at the University of Toledo in Ohio, and his resume includes a previous career as a rocket scientist.
Interim President Stephen C. Osborne will remain in office until Hsu's arrival. Hsu will begin working full time as president-designate on March 1 and will become president on May 16, according to his contract.