A compensation committee for the University of Pittsburgh's trustees today froze all salaries for executives, at the recommendation of Chancellor Mark Nordenberg.
Nordenberg will get a $75,000 retention bonus for remaining at the university -- a bonus he gets yearly. Three other officers get retention bonuses of $50,000 apiece.
But none of the university's senior executives will get raises this year because of the tough economic times.
"I make that recommendation despite the high level of performance that marked these officers this past year," Nordenberg said during the meeting held by telephone conference call at Posvar Hall on the university's Oakland campus.
Nordenberg listed a littany of headlines describing the economic downturn in the United States and around the world.
"I made that recommendation because, in these troubled times, it's the responsible thing to do," he said.
In December 2007, Pitt trustees approved a 4 percent raise for Nordenberg, which put his annual salary minus the bonus at $460,000.
Even with that bonus, Nordenberg's salary lagged behind the highest-paid executive at the university -- Arthur S. Levine, senior vice chancellor for health sciences and dean of the school of medicine. Levine's salary last year increased to $702,000.
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