University of Washington President Mark Emmert won't get a pay raise this year, and Washington State University President Elson Floyd will take a pay cut -- largely because of the state's unprecedented funding deficit.
Floyd told the WSU Board of Regents on Friday that he would lead by example and take a $100,000 cut, trimming his compensation package to $625,000.
On Thursday, Emmert received accolades during a performance review conducted by the UW Board of Regents, but he asked that his compensation -- $905,000 -- remain the same for now.
Even without a raise, Emmert will likely remain one of the best-compensated university executives in the nation. Earlier this week, the Chronicle of Higher Education ranked him as the country's second-highest-paid public university president.
Floyd was ranked 17th, though a more recent pay raise might have placed him at No. 6.
"These are exceedingly tough times for my students, faculty and staff," Floyd said in a statement.
"We will be asking them to think more creatively and work harder with less as we deal with budgetary restraints. It is incumbent upon me to lead by example."
WSU Regent Francois Forgette said the request was approved reluctantly.
"This action on his part only reinforces our belief that he is the right person at the helm to lead WSU through the challenging times ahead," Forgette said.
UW Regent Craig Cole called Emmert's job performance "exceptional."
In addition to his salary from the state, Emmert earns an extra $340,000 for serving on the boards of Expeditors International and Weyerhaeuser.
The universities are facing a possible 20 percent funding cut from the Legislature, which is looking at a funding deficit of more than $5 billion between now and the end of the next funding biennium.
Both the UW and WSU are already making millions in reductions to help close a shortfall in this fiscal year.
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The presidents of the University of Washington and Washington State University decline pay raises this year -- and one asked for a pay cut.