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.

Craig Melvin is following in Hoda Kotb’s legendary footsteps and the Today show staff couldn’t be more thrilled for him. “Craig is so awesome, people were cheering when they got the staff email," a source exclusively tells Us Weekly.

Recently announced, Melvin Craig is all set to follow Hoda Kotb ’s steps as the new anchor of NBC’s Today show. He will take the legendary anchor’s role on the show right after Kotb’s exit on January 10. While the soon-to-exit anchor cannot be replaced and will be truly missed by her colleagues, they are equally ecstatic for Melvin to join them.