Satish K. Tripathi on Monday officially became the new University at Buffalo president, and he will be paid well for it.
Tripathi will make a total of $650,000 -- he will receive a $385,000 salary from the university, $150,000 from the UB Foundation, and another $115,000 paid by the State University of New York Research Foundation.
Tripathi, who has been UB's provost for six years, will be paid more than his predecessor, John B. Simpson, who retired last month.
Simpson's most recent salary consisted of $265,000 paid by the university, and another $212,299 paid by the UB Foundation.
Tripathi, 60, was unanimously appointed as UB's 15th president by the State University of New York board of trustees, which held a special meeting at the university's North Campus.
Tripathi was one of more than 60 candidates, and he "quickly emerged as our front-runner," said UB Council Chairman Jeremy M. Jacobs, who was also head of the search committee.
Tripathi will live in the university's presidential home and have a vehicle paid for by the university.
The compensation package, excluding the home and the vehicle, puts Tripathi just behind the heads of Stony Brook University, Texas A&M, the University of Texas-Austin and the University of Virginia, according to figures compiled by the Chronicle of Higher Education and provided by UB to reporters at Monday's news conference.
The $650,000 package puts him ahead of those in similar positions at the universities of Arizona, Iowa and Oregon, as well as Michigan State University, according to the data.
SUNY Board Chairman Carl T. Hayden said Tripathi was picked for the job "because he succeeded in surmounting an even higher bar than is typically the case in a presidential search."
The UB Foundation is a nonprofit entity which manages grants, gifts, philanthropy and fundraising at the university. The SUNY Research Foundation is a private, Albany-based, not-for-profit organization that administers research grants and contracts awarded to SUNY.
Before coming to UB, Tripathi was dean of Bourns College of Engineering at the University of California, Riverside. He also taught at the University of Maryland for 19 years.
Harvey G. Stenger Jr., dean of the School of Engineering & Applied Sciences, has been named interim provost.