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.

Hoda Kotb has been a co-anchor on Today with Savannah Guthrie since 2018, but the 2025 TV schedule will officially go on without her. Since Kotb announced her exit in September, the question high on the minds of viewers (and surely the network) has been regarding who would be her replacement.

By selecting Mr. Melvin, a familiar face on the show, network executives chose to go the steadiest route possible.