UBC President Resigns, Gets $446,750
Remember the last job you quit, how someone just handed you a bag of money
August 12, 2015
Though he’s only been in the position one year, UBC president Arvind Gupta tendered his resignation on Friday. Now, he’ll be receiving $446,750 in severance.
It’s a bit of a cut from what he would’ve received had he been terminated without cause – -which would have been three times his salary. The announcement has sparked internet outrage from residents across the lower mainland as the school is funded by both taxpayer dollars and tuition-ravaged students. The University claims that the fee will come out of the school’s administrative budget, but critics say the money would have been better spent on improving student services or, say, literally anything else?
Because this is all above ground, you can take a few hours to read the teeny tiny details of his initial contract, which is available publicly online for viewing. (UBC Insiders outline it well here, if fine-print isn’t your bag.)
UBC has not commented on why Gupta tendered his resignation after serving just one year of a five-year term, but on Monday, the board of governors have been asked to explain. Speculation swirls: was it a forced resignation, with a hefty severance fee for the short-lived president to go quietly? Or did Gupta simply tired of being the president?
He will be returning to UBC as a professor in September 2016, and in the meantime, UBC will start the search for its third president in just over a year. Maybe you should think about applying—we hear it pays well.