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New College approves a proposed pay range for its next president

Woman walking next to New College sign
Chris O'Meara
A student makes her way past the sign at New College on Jan. 20, 2023, in Sarasota.

A 15-member committee signed off on a pay range of $487,000 to $868,000 during a meeting Wednesday.

A presidential search committee at New College of Florida on Wednesday approved a proposed pay range for the school’s next leader.

The small liberal-arts college in Sarasota has begun accepting applications for the president job. Interim President Richard Corcoran, a former Florida House speaker and state education commissioner, is paid a base salary of $699,000.

During Wednesday’s meeting, the 15-member committee signed off on a pay range of $487,000 to $868,000. New College hired the consulting firm Mercer to conduct an executive compensation analysis, which looked at presidents’ pay packages at 13 comparable schools.

The range approved by the search committee represents a salary that would be between the 25th and 75th percentiles of the leaders of the schools included in the analysis.

The New College Board of Trustees will consider approval of the proposed pay range during a meeting Thursday.