MARQUETTE, MI— The Northern Michigan University Board of Trustees approved a contract for new President Chris Olsen at a special meeting Thursday.
Olsen’s contract term begins January 5, 2026, and ends June 30, 2031. He will earn an annual base salary of $475,000, deferred compensation of $50,000 per year, potential performance bonuses for achieving annual targeted goals, and a vehicle. Because the university previously sold the former president’s residence on campus, Olsen will also receive a taxable housing stipend of $50,000 per year.
The board also approved a negotiated agreement with the AFSCME union.
The first year of the three-year agreement includes a combined across-the-board and market adjustment of $1.25/hour, or no less than a total of 6 percent. Wages will increase 3 percent in each of the remaining two years.
