Art Market Monitor

Global Coverage ~ Unique Analysis

  • AMMpro
  • AMM Fantasy Collecting Game
  • Podcast
  • Contact Us

Govan's Salary Becomes an Issue

August 18, 2009 by Marion Maneker

Michael GovanThe Los Angeles Times goes after Michael Govan connecting the million-dollar loss on LACMA’s film program to the museum director’s million-dollar salary. It turns out that Govan has a variety of perks in his package: he lives in a $5m home rent-free; his moving costs were paid at the rate of $350,000 along with a signing bonus and he will get $1m in deferred compensation if he stays 5 years. All together the 5-year package is worth $6m and includes a car:

The question may be particularly relevant at LACMA, because it gets more public funding than many museums: About a quarter of its $74-million operating budget came from L.A. County in 2008, including $201,432 toward Govan’s salary and benefits. LACMA has avoided widespread layoffs common at other museums. But it has canceled two exhibitions and abandoned negotiations for a third. Several curatorial positions remain open amid a hiring freeze, though one key spot was filled last week. Govan says he is seeking donor support to create a new film program. If the museum decided to cut salaries, “I’d be first in line,” he said, adding that he decided to forgo a bonus and raise this year. […]

His compensation, about a 50% increase over that of his predecessor, places him in an elite group of art museum directors who for the most part preside over institutions more prestigious and many times richer than LACMA. […] Govan said he accepted the offer without much negotiation.

Behind Michael Govan’s Almost $1m LACMA Salary (Los Angles Times)

More from Art Market Monitor

  • Latin American Buyers Dominate Sotheby's Armory SaleLatin American Buyers Dominate Sotheby's Armory Sale
  • Sotheby’s Puts Real Estate, Classic Car, Jewelry and Watches Under One ExecutiveSotheby’s Puts Real Estate, Classic Car, Jewelry and Watches Under One Executive
  • The Luck of the IrishThe Luck of the Irish
  • Australian Lawyer Stirs Pot with Hearsay Claim that 30% of Works on Australian Art Market Are FakesAustralian Lawyer Stirs Pot with Hearsay Claim that 30% of Works on Australian Art Market Are Fakes
  • Crystal Bridges Breaks Into the Big TimeCrystal Bridges Breaks Into the Big Time
  • Nouriel Roubini’s Lackluster Suggestions for Regulating the Art MarketNouriel Roubini’s Lackluster Suggestions for Regulating the Art Market

Filed Under: Museums

About Marion Maneker

LiveArt

Want to get Art Market Monitor‘s posts sent to you in our email? Sign up below by clicking on the Subscribe button.

  • About Us/ Contact
  • Podcast
  • AMMpro
  • Newsletter
  • FAQ

twitterfacebooksoundcloud
Privacy Policy
Terms & Conditions
California Privacy Rights
Do Not Sell My Personal Information
Advertise on Art Market Monitor
 

Loading Comments...