YSU Taking account of new prof's $155,000

Stout starts at YSU in August.
By JoANNE VIVIANO
VINDICATOR EDUCATION WRITER
YOUNGSTOWN -- University accounting professors around the nation made an average salary of $119,000 during the past academic year, according to a faculty salary survey.
Their salaries ranged from $67,654 to $253,233, says the 2002-2003 Oklahoma State University Faculty Salary Survey by Discipline.
A newly hired accounting faculty member in Youngstown State University's Williamson College of Business Administration will make $155,000, a salary that has caused a stir on campus.
David Stout will be the highest paid faculty member on campus and the second-highest paid YSU employee.
Only President David C. Sweet makes more, with a salary of $203,520.
Stout will serve as the John S. and Doris M. Andrews chair in accounting, with $125,000 of his salary paid by YSU and $30,000 by an endowment established through a $1 million gift from the Andrews Trust. He currently is an accounting professor at Villanova University.
Putting it in perspective
Carla Reichard, assistant director of Institutional Research and Information Management at Oklahoma State University, said Stout's salary doesn't seem extreme based on the salary survey.
The survey shows that the average for newly hired assistant accounting professors, $103,876, comes in higher than that for current associate ($93,640) and assistant ($92,932) accounting professors. The new assistant professor range is from $85,000 to $135,000.
The survey examines 2002 data from 95 research universities and those with doctorate programs. Participants from Ohio include Ohio State, Kent State, Cleveland State, Miami and Ohio universities.
Stout will be responsible for teaching, research and service duties. He'll teach two courses per semester, not the three or four taught by most faculty members, and will have the added responsibility of increasing the visibility of the accounting department with regional and national accounting professionals.
While some members of the YSU community have expressed concern over Stout's salary, others say the type of position he will fill is essential to the university's growth.
'Legitimate questions'
Stout, who will relocate to Canfield next month, said the debate is not intimidating, especially since his is the first such endowed chair position at the university.
The YSU community may wonder what Stout will be doing, why the university used the money for his position and what can be expected in return, the professor said.
"Those are legitimate questions," he said.
Stout said endowed positions are characteristic of quality institutions. He hopes to use his appointment to enhance course curriculum, help create more internships and jobs for students, expand extracurricular programs and provide mentoring for less-experienced faculty.
"All these things will help enhance the name, the stature, the recognition of the university," Stout said. " ... That enables the institution to bring in more quality faculty ... and more quality students."
Stout has a bachelor's degree in finance from LaSalle College and master's and doctorate degrees in accounting from the University of Pittsburgh. He has served in editorial positions at several accounting and finance journals and has published several articles . He was instrumental in creating a new master's-level accounting curriculum at Villanova.
The professor said his lack of certified public accounting credentials won't place him at a disadvantage. What's important, he said, are accomplishments over time, "not what letters you have after your name."