University of Mississippi Chancellor Glenn Boyce and Mississippi State University President Mark Keenum will continue leading the state’s largest public institutions for another four years under new contracts approved by the state’s college board.
The Mississippi Institutions of Higher Learning Board of Trustees in September unanimously approved Boyce’s and Keenum’s annual salaries, including potential retention bonuses exceeding $1 million each.
The contracts keep Boyce and Keenum as Mississippi’s highest-paid public university leaders.
Both contracts took effect Oct. 1 and end Sept. 30, 2030. Trustees did not publicly discuss the matter.
Both leaders previously earned $950,000 a year, with taxpayers supporting $500,000 of their salaries and their respective university’s foundations making up the rest.
Under their new contracts, Boyce and Keenum will each earn $1,012,500 million in the first year, including $562,500 in state-funded salaries and $450,000 from their university foundations. Their annual compensation will slightly decrease to $1 million for each of the remaining three years, with a state-funded salary of $550,000 annually.
Both presidents are eligible for additional retention bonuses if they remain in their jobs through June 2027 and June 2023. Boyce could receive up to $1.15 million in retention payments over four years, while Keenum could receive up to $1.35 million. The university foundations will determine the payment amounts.
IHL Board President Steve Cunningham said Thursday that the raises reflected Boyce’s and Keenum’s job performance and their universities’ growth in recent years. Trustees considered several factors when evaluating the presidents, including enrollment, university rankings and research grants, he said.
Trustees also wanted to keep both presidents in their roles, Cunningham said. Their university foundations agreed to fund the potential retention bonuses because state funding for salaries is limited.
“It’s just great to have leaders that are still willing to serve because the average time span for (university presidents) is maybe four or five years,” Cunningham said. “Both leaders have exceeded that average time span.”
Keenum declined to comment. Boyce said that he appreciates the board’s confidence in his university leadership and the direction that Ole Miss is heading.
IHL policy requires trustees to review university presidents’ pay annually, considering state funding, university resources and contributions from university foundations and alumni associations. The board also reviews regional and national information about executives’ compensation when determining salary decisions.
By comparison, University of Southern Mississippi President Joe Paul earns $700,000 annually, while Jackson State University President Denise Jones Gregory earns $465,000, according to the college board’s May meeting minutes.
Delta State University President Dan Ennis earns $355,000, and Mississippi Valley State University President Jerryl Briggs earns $315,000.
Alcorn State University President Tracy Cook earns $305,000, and Mississippi University for Women interim president, Scott Tollison earns $300,000 annually.
Keenum has served as Mississippi State’s president since January 2009, while Boyce has led Ole Miss since 2019. Both institutions have experienced record enrollment growth under their tenures.
The board also approved changes to National Collegiate Athletic Association compliance provisions in university presidents’ contracts, requiring them to cooperate with investigations and disciplinary proceedings. Executives found to have violated NCAA regulations could face disciplinary action, including suspension without pay or termination.
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