Under the new agreement, the base state salary for Alain E. Kaloyeros, a professor of nanosciences and vice president and chief administrative officer for the college, rose from $525,000 to roughly $667,000.

That’s in addition to money he earns from his research efforts: In the 2006 fiscal year, he also received $258,701 based on his generation of external grants, contracts, licenses and royalties, which Kaloyeros estimated via e-mail amount to about $250 million per year. (He added in his e-mail that he turns down all offers for consulting, board service, and the like, so does not have any income external to the university).
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“Alain has been responsible for bringing in billions of dollars to U Albany for nanotechnology research and development … about $4 billion to date,” said Susan V. Herbst, provost and officer in charge, or acting president, at Albany. Herbst approved the raise, which was subsequently approved by SUNY’s former systemwide chancellor, John R. Ryan. “Certainly in medicine, engineering, the life sciences, the great universities across the country need to pay competitive salaries to keep the very best faculty with them. We are no different.”

Kaloyeros’s salary increase comes with an increase in duties related to economic development, for which a full announcement is pending in a few weeks, Herbst said. She pointed, though, to one major economic development initiative already announced and under way: Kaloyeros’s work to bring the international headquarters for SEMATECH, a consortium of semiconductor manufacturers representing about half the world’s production, to Albany.