PULLMAN, Wash. -- Washington State University President Elson Floyd is taking a $100,000 pay cut in response to budget problems.

KING

Elson Floyd

The university says Floyd told the board of regents Friday he would lead by example with the voluntary cut.

The board accepted his request and lowered his pay to $625,000 a year, effective Jan. 1st.

In Seattle, University of Washington president Mark Emmert decided to forgo a pay raise this year. Regents completed their annual review Thursday and said Emmert has done and exceptional job, but they did not consider a pay

increase, at his request. He earns $905,000 a year.

The Seattle Times reports Emmert also sits on the boards of two companies that pay him $340,000 a year in cash and stock.