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(Time)   Despite funding cutbacks, college presidents pay now averages $440,000 a year as schools show students that there actually are some good paying jobs with that college degree   (newsfeed.time.com) divider line 24
    More: Spiffy, establishments, Graham Spanier, Chronicle of Higher Education, Gordon Gee, cutbacks, financing, Mary Sue Coleman, schools  
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417 clicks; posted to Business » on 15 May 2013 at 10:20 AM (1 year ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2013-05-15 10:16:12 AM  
While I don't like that Presidents' salaries are increasing, they don't seem egregiously high. They are essentially CEO's of large corporations. I mean the guy running the University of California system which has around 10 campuses and well over 200,000 students makes less than $900k.

The real travesty:

Nothing to scoff at, though many of the presidents on the list don't make as much as the football and men's basketball coaches at their schools.
 
2013-05-15 10:25:55 AM  
The oddest ones on that list are Auburn and VT just based on the number of students compared to the others on the list.

The insane one is Ball State based on the number of students and also because it's fricking Ball State.

Ball State is for when IU and Purdue won't take you.
 
2013-05-15 10:30:44 AM  
As a graduate student, let me just say (ESPECIALLY with regard to, say, coaching salaries:)

ALL OF MY HATE.
 
2013-05-15 11:00:00 AM  
It's amazing what a gov't fueled bubble can do
 
2013-05-15 11:26:19 AM  
Considering what most university presidents have to put up with, $440,000/yr is peanuts.  There are EVPs at not-particularly-large companies pulling down that kind of money.  And most college presidents are lucky to last 5 years before they're burned out.

/BTW, it's obvious subby didn't major in stats:  "average" and "median" aren't the same thing, pal
 
2013-05-15 11:36:48 AM  
To those of you saying that the figure doesn't seem particularly outrageous, let me enlighten you.

At many schools, presidents are provided with a (usually luxurious) home, one or more vehicles or a car service, full-ride insurance similar to what Congress gets (i.e., none of the BS deductibles and copays and other things peons have to deal with, and NO employee contribution even if their whole family is covered), and a very generous travel and expense account (he is supposed to travel and raise money, of course).  Oh, and all of their kids can attend for free, immediately as opposed to after a year or more that most employee's kids have to wait.

At the last school where I worked, I think the president was lucky if he had to pay for groceries in his personal fridge, and maybe clothes (hell, he probably expensed much of that).  ALL of his other bills, housing, transportation, insurance, and utilities, were all paid by the school on top of his salary, which was above the figure given in TFA.  He didn't own his own car or home, but he had no bills and a very high 6-figure salary.

And, after 7 years of this guy giving excuse after excuse about why empty positions couldn't be filled, and no raises, COLA or otherwise, could be considered, they still wondered why we have a 'morale problem'.
 
2013-05-15 11:49:11 AM  

TheOtherGuy: To those of you saying that the figure doesn't seem particularly outrageous, let me enlighten you.

At many schools, presidents are provided with a (usually luxurious) home, one or more vehicles or a car service, full-ride insurance similar to what Congress gets (i.e., none of the BS deductibles and copays and other things peons have to deal with, and NO employee contribution even if their whole family is covered), and a very generous travel and expense account (he is supposed to travel and raise money, of course).  Oh, and all of their kids can attend for free, immediately as opposed to after a year or more that most employee's kids have to wait.

At the last school where I worked, I think the president was lucky if he had to pay for groceries in his personal fridge, and maybe clothes (hell, he probably expensed much of that).  ALL of his other bills, housing, transportation, insurance, and utilities, were all paid by the school on top of his salary, which was above the figure given in TFA.  He didn't own his own car or home, but he had no bills and a very high 6-figure salary.

And, after 7 years of this guy giving excuse after excuse about why empty positions couldn't be filled, and no raises, COLA or otherwise, could be considered, they still wondered why we have a 'morale problem'.


It's not much better in government.  My boss is a PI.  Can't be fired.  Ever.  Right now, he's trying to leverage his retirement date, with the explicit threat that if they close his lab, they'll be paying his salary for the rest of his life.

Meanwhile, they're inventing new positions in academia and government to avoid giving my generation tenure-track postions (not even tenure), and using postdocs and postbacs to fill staff scientist positions (to avoid having to give my generation full-time benefits.

I have to ask myself, was it really that bad to be a scientist years ago that they had to offer these contracts, or were the expectations from an employer really that high?

If you take a close look, there is little that separates the academic and government science business model from a Ponzi scheme.
 
2013-05-15 11:53:11 AM  

TheOtherGuy: To those of you saying that the figure doesn't seem particularly outrageous, let me enlighten you.

At many schools, presidents are provided with a (usually luxurious) home, one or more vehicles or a car service, full-ride insurance similar to what Congress gets (i.e., none of the BS deductibles and copays and other things peons have to deal with, and NO employee contribution even if their whole family is covered), and a very generous travel and expense account (he is supposed to travel and raise money, of course).  Oh, and all of their kids can attend for free, immediately as opposed to after a year or more that most employee's kids have to wait.

At the last school where I worked, I think the president was lucky if he had to pay for groceries in his personal fridge, and maybe clothes (hell, he probably expensed much of that).  ALL of his other bills, housing, transportation, insurance, and utilities, were all paid by the school on top of his salary, which was above the figure given in TFA.  He didn't own his own car or home, but he had no bills and a very high 6-figure salary.

And, after 7 years of this guy giving excuse after excuse about why empty positions couldn't be filled, and no raises, COLA or otherwise, could be considered, they still wondered why we have a 'morale problem'.


Able to keep wages flat for 7 years? Sounds like he earned his money.
 
2013-05-15 12:02:51 PM  
          it's
     like one
big pyramid scheme.
 
2013-05-15 12:04:51 PM  

You're the jerk... jerk: Able to keep wages flat for 7 years? Sounds like he earned his money.


And the patricians will marvel in ignorance as the plebians throw them up against the wall...
 
2013-05-15 12:46:05 PM  
Our college president gets less than $8,000 a year (and that's a generous estimate; the last I heard he made $400 a month, but that was several years ago).  He also gets free room and board (he is a Franciscan friar).  He does a fine job of running the college at that salary, so the idea that you need big money to get good people is completely bogus.
 
2013-05-15 01:08:27 PM  

Sergeant Grumbles: You're the jerk... jerk: Able to keep wages flat for 7 years? Sounds like he earned his money.

And the patricians will marvel in ignorance as the plebians throw them up against the wall...


Unlikely to ever happen, and you know it.
 
2013-05-15 01:12:59 PM  

Sergeant Grumbles: And the patricians will marvel in ignorance as the plebians throw them up against the wall...


Oh, stop it. There is no imminent revolution, especially in academia. What's happening isn't due to a CEO culture, or academic culture, or even education culture. It's American culture. The Boomers are retiring, and as they get older they are swinging their collective political might like a sledgehammer against anything they don't immediately benefit from. Gen X behind them is busy turning education into a major scam. America is a country in full-blown decline; any historian can point you to the massive anti-intellectual movement in politics, the marginalization of academics & artists, and the corruption of education as evidence we're becoming the next crumbling empire. Don't bother to even hope it'll turn around because the people have made up their minds -- they don't give a shiat.

TheOtherGuy: At many schools, presidents are provided with a (usually luxurious) home, one or more vehicles or a car service, full-ride insurance similar to what Congress gets (i.e., none of the BS deductibles and copays and other things peons have to deal with, and NO employee contribution even if their whole family is covered), and a very generous travel and expense account (he is supposed to travel and raise money, of course). Oh, and all of their kids can attend for free, immediately as opposed to after a year or more that most employee's kids have to wait.


This really isn't all that different from most corporate executive perks.
 
2013-05-15 01:26:52 PM  

Rapmaster2000: The oddest ones on that list are Auburn and VT just based on the number of students compared to the others on the list.

The insane one is Ball State based on the number of students and also because it's fricking Ball State.

Ball State is for when IU and Purdue won't take you.


Auburn pays their president about $100 per student., about 1% of the tuition for a full course load undergraduate.

On the flip side, I went to a small private college for my undergraduate work and the president's salary worked out to be around $150 per student - about 1% of tuition.
 
2013-05-15 02:01:27 PM  
To be fair, that is their salaries playing God. It's difficult to justify a lower salary in that situation.
 
2013-05-15 02:51:06 PM  

I got redlit on this very topic back in January: College Is the Key to Financial Success . . . if you're a college president, that is.

According to an analysis by the Chronicle of Higher Education, in the 2011 fiscal year, 132 presidents of public colleges and universities made $344,000 or more - the income level that marks the divide between the bottom 99 percent and the top 1 percent. Private-college presidents raked in even more: 208 made $344,000 or more in 2010, with 36 of those making $1 million or more.
 
2013-05-15 02:51:20 PM  
Yep.
And every psychiatric patient wants to be a counselor.
 
2013-05-15 02:57:40 PM  

dragonchild: Oh, stop it. There is no imminent revolution, especially in academia. What's happening isn't due to a CEO culture, or academic culture, or even education culture. It's American culture. The Boomers are retiring, and as they get older they are swinging their collective political might like a sledgehammer against anything they don't immediately benefit from. Gen X behind them is busy turning education into a major scam. America is a country in full-blown decline; any historian can point you to the massive anti-intellectual movement in politics, the marginalization of academics & artists, and the corruption of education as evidence we're becoming the next crumbling empire. Don't bother to even hope it'll turn around because the people have made up their minds -- they don't give a shiat.


Eh, didn't really mean it like that. Sure, I'd love for some skull busting revolution, but I was talking more about how the likes of overpaid college presidents don't expect blowback for profiting from their subordinates' misery, especially for as long as such things have been going on. Violent revolution isn't likely, but it doesn't mean other types of revolutions won't come. Some shiat is going to go down when the millenials are either unwilling or unable to fund their parents' and grandparents' retirement no matter how much those Boomer and GenXers insists they work harder, even if the wall is economic and not brick.

I myself would love to emigrate and tell Sallie Mae to go fark itself on my student loans, and I wouldn't feel a shred of regret in doing so. I can't imagine my stance is a rarity, not with the rhetoric from older generations boiling down to working harder for less money while they enjoy their retirement.
 
2013-05-15 04:25:25 PM  

TheOtherGuy: full-ride insurance similar to what Congress gets (i.e., none of the BS deductibles and copays and other things peons have to deal with, and NO employee contribution even if their whole family is covered),


None of those things are true of Congressional health insurance. Don't parrot talking points.
 
2013-05-15 04:38:20 PM  

RealityChuck: Our college president gets less than $8,000 a year (and that's a generous estimate; the last I heard he made $400 a month, but that was several years ago).  He also gets free room and board (he is a Franciscan friar).  He does a fine job of running the college at that salary, so the idea that you need big money to get good people is completely bogus.


So, all universities need to do is find a franciscan friar who's willing to do an extremely demanding job for peanuts. Gee it's so easy! Why hasn't anybody thought of this before (I say with absolutely no sarcasm; ok actually a lot of sarcasm).
 
2013-05-15 05:25:59 PM  

thurstonxhowell: TheOtherGuy: full-ride insurance similar to what Congress gets (i.e., none of the BS deductibles and copays and other things peons have to deal with, and NO employee contribution even if their whole family is covered),

None of those things are true of Congressional health insurance. Don't parrot talking points.


I'm genuinely surprised.  I don't get SnopedTM often.  I retract the comparison (only) based on:  http://jeffduncan.house.gov/legislative-work/fact-or-fiction/fact-or- f iction-do-members-congress-get-free-health-care.

However, the college president I was speaking about did, in fact, as did his predecessors, get full ride health insurance, covering his entire family, with no deductible, while the rest of us had to (and those who work there continue to have to) pay through the nose out of much, much smaller salaries.  Basically they created a no-deductible tier just for him, and the school picked up the (exorbitant) premium on top of what they paid him (and what they paid to maintain the house, the car, the expense account, etc.).

I still can't believe that's a myth... you hear it freakin' everywhere.  Very disheartening disinformation.
 
2013-05-15 07:30:34 PM  

The Third Man: Considering what most university presidents have to put up with, $440,000/yr is peanuts.  There are EVPs at not-particularly-large companies pulling down that kind of money.  And most college presidents are lucky to last 5 years before they're burned out.

/BTW, it's obvious subby didn't major in stats:  "average" and "median" aren't the same thing, pal


They suck miles of donor dick in 5 years.
 
2013-05-15 09:33:05 PM  

Rapmaster2000: The oddest ones on that list are Auburn and VT just based on the number of students compared to the others on the list.


Auburn's football obsessed members of the Board of Trustees ran off one of the previous presidents for not putting football first, business and engineering second, and liberal arts behind the toilet plunger. Word of that kind of thing gets around and limits your ability to attract replacements without upping the compensation. Luckily most of that crop of trustees are no longer on the board but the damage remains.

/Disappointed Lowder isn't in the federal pen
 
2013-05-16 04:07:10 AM  
The reason why College Presidents get so much money (like College Coaches do) is because they bring so much in.  College Coaches bring in donations from alumni who like to see their school win, and College Presidents bring in donations from business types looking for research into things that will benefit their industries.

To use the law office argot, they're a "rainmaker" of sorts.

You can debate whether or not they're worth it, but my expectation is that typical boards (especially for private schools) are pretty mercenary about it. If you don't have a "golden rolodex" or don't use it, you are pretty quickly shown the door.
 
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