Wednesday, September 2, 2020

Do college leaders make too much money?

Every year, the Chronicle of Higher Education publishes its Almanac, which is crammed with answers to questions that college professors care so much about--how much money are we all making?

To borrow an expression from rural West Texas: some college leaders and college coaches are making a shitload of money.

Here are some examples:

  • Scott Malpass, vice president and chief investment officer at the University of Notre Dame: $10 million.
  • Richard Steward, Academic Director at New York University: $8,733,507.
  • Matthew Rhule, Head Football Coach at Baylor University: $7,273,372.
  • Matthew B. Luke, Head Football Coach at the University of Mississippi: $11,353,918.
  • Ronald Machtley, President of Bryant University: $6,283,616.
  • Mark Becker, President of Georgia State University: $2,806, 517.
  • Ian Bernard Baucom, Dean of College of Arts & Sciences at the University of Virginia: $1,222,083.
I'm citing extreme cases here--the people I've listed are at the top of the salary scale. But there are a ton of football coaches and even assistant football coaches who make more than $1 million a year.  

And there are a bunch of college presidents who make more than half a million dollars a year. In fact, all of the top fifty best-paid presidents at public institutions make more than $700,000 per annum.

At private colleges, every president among the top fifty best-paid CEOs makes at least a million bucks a year. In more than half the states, the best paid public employee is either a football coach or a basketball coach.

As we are constantly reminded, tuition costs have risen at twice the rate of inflation over the past twenty years. College leaders give a variety of reasons for why this is so. Still, it is absolutely clear that unreasonably high salaries for college presidents, athletic coaches, and even professors are part of the explanation.








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