The Chronicle of Higher Education finds out who the highest paid higher educators are.
the highest-paid college employee in the country was Pete Carroll, head football coach at the University of Southern California, with $4.4-million in total compensation (pay plus benefits).Glad to see we have our priorities straight.
Also be sure to check out this Chronicle of Higher Education story on executive pay. The scariest part is the number of senior executives/administrators. If my count is right, the Chronicle found 274 such positions. Of course, not all schools have all 274 positions, but this is exactly what we are talking about when we discuss bloated administrative staffing.
Greg Mankiw, commenting on why the satisfaction with economics majors at Harvard is low says
student satisfaction is low precisely because the student-faculty ratio is high.He lists a number of ways to combat this, concluding with this one
Some angel with deep pockets could give the university a wad of cashPerhaps it’s just me, but I find it hard to muster up any extra sympathy here, but I disagree with the commenters on Felix Salmon's article, who argued that making $200,000 a year doesn’t make you rich.
Finally, I’ll conclude with a series of quotes from EduBubble postings. I don’t necessarily agree with all of them, but they raise good points that can’t be ignored.
He says colleges raise tuition because they can:
Society already pumps a ton of money into the schools through hundreds of big and little programs. If these aren’t helping keep college affordable, do you think another will make a difference? Colleges spend every penny they can get and then they demand tuition from students because the students are happy to pay it. So why not charge what the market will bear?He sees austerity coming for colleges:
The beautiful shining ideal of a college filled with Starbucks, Stairmasters, and huge unshared rooms was only possible when the schools schnookered you into mortgaging all of the future income.He doesn’t like the FAFSA, or the NY Times take on it:
she doesn’t deal with the weird philosophical incentive to spend like crazy because the schools will take any dollar you actually save. She just talks about the complexity of the form and how some folks want to make it simpler, they really do, but there’s no easy way to squeeze all of the money out of the parents and the tax payer without requiring a ton of information.