The Virginia Commonwealth University Board of Visitors unanimously approved a 9% raise for school president Michael Rao on Friday, as the head of the board said he has exceeded expectations.
Rao, 59, will receive an annual base salary of roughly $896,000. Including deferred compensation, a one-time bonus and stipends for housing and a car, he will receive about $1.4 million a year.
Read the full story in the Richmond Times-Dispatch.
