Craig Melvin, 45, will be taking over for “Today” anchor Hoda Kotb when she steps down. The move will give him a big salary bump, as Us Weekly reports that he’ll make about $5 million to $6 million in his new role. He allegedly makes $3 million per year now.

Kotb's last day as co-anchor of the Today show will be Friday, January 10. She first shared the news of her departure back in September, citing wanting more time with her children, the beginning of a new business venture, and feeling like she had reached the pinnacle of her career at Today.