College presidents making ridiculous salries, do they deserve them?

[Quantum Windbag]

I have to admit this is a grudge thread, but I really do think it is getting ridiculous, why do college presidents need million dollar salaries and all the other perks they get?

As the economy staggered, private college presidents enjoyed modest raises and saw the ranks of those making at least $1 million swell from 33 to 36 - including the president of a West Virginia school that's facing accreditation problems and has one of the worst official graduation rates in the country.

The median 2009 compensation for leaders at private schools was $386,000, up 2.2 percent from the year before, according to the latest annual analysis by The Chronicle of Higher Education. The figures cover 519 presidents at private colleges with total budgets of at least $50 million, and reflect the most recent year for which data from federal tax reports are available.

Constantine Papadakis, the president of Drexel University who passed away in 2009, was the highest paid, though the majority of his $4.9 million compensation came via life insurance and previously accrued compensation paid to his wife. Papadakis earned a base salary of $196,000.

The 10 Highest Paid Private College Presidents: Chronicle Of Higher Education List

$4,912,217 a year for Drexel University? Seriously? Drexel?

 

[editec]

Let's just look at Drexel since right now Drexel seems currently to have the highest paid President.


Drexel has 22,500 students paying a tuition and fees of abut $35,000 each. ($787,500,000 in student tuitions and fees annually)

Room and board is about $13,000 and about 27% of the students live in student housing. 22500 x /27 x 13,000 = $78,975,000)

It has an endowment of $427,023,000

It has a staff to student ratio of about 10-1.

So... if one looks at the complexity of modern universities and one compares the complexity of overseeing that kind of operation, one might very well ask oneself is in fact University presentes are paid enough?

Consider that they manage multiple colleges, with all the tasks associated with education; a significant real estate business; a food services to feed all those folks; multiple locations worldwide where students go; and in Drexels case a huge JOB PLACEMENT system to accomodate the work studies that the kids go into, too

Compare the complexity of running a university to the complexity of running many industries and you'll quickly discover that the university management is much more complex, requires much more finesse AND political machinating.

ARe university presidents being paid huge somes compared to other CEOs?

Give the tasks they have?

I don't really think so.

 

[Two Thumbs]

I have to admit this is a grudge thread, but I really do think it is getting ridiculous, why do college presidents need million dollar salaries and all the other perks they get?

As the economy staggered, private college presidents enjoyed modest raises and saw the ranks of those making at least $1 million swell from 33 to 36 - including the president of a West Virginia school that's facing accreditation problems and has one of the worst official graduation rates in the country.

The median 2009 compensation for leaders at private schools was $386,000, up 2.2 percent from the year before, according to the latest annual analysis by The Chronicle of Higher Education. The figures cover 519 presidents at private colleges with total budgets of at least $50 million, and reflect the most recent year for which data from federal tax reports are available.

Constantine Papadakis, the president of Drexel University who passed away in 2009, was the highest paid, though the majority of his $4.9 million compensation came via life insurance and previously accrued compensation paid to his wife. Papadakis earned a base salary of $196,000.

The 10 Highest Paid Private College Presidents: Chronicle Of Higher Education List

$4,912,217 a year for Drexel University? Seriously? Drexel?

Hell yeah they earned it. every damn penny they could bilk out of the government grant and loan system is well earned.

That's all 100% profit. They get to keep the grants and loans whether of not the kid finishes. They get paid for an empty seat.

And liberals wonder why people can't work their way through anymore. pfft, fucking colleges don't need petty cash coming in when the kid can afford it.

 

[Sarah G]

I have to admit this is a grudge thread, but I really do think it is getting ridiculous, why do college presidents need million dollar salaries and all the other perks they get?

As the economy staggered, private college presidents enjoyed modest raises and saw the ranks of those making at least $1 million swell from 33 to 36 - including the president of a West Virginia school that's facing accreditation problems and has one of the worst official graduation rates in the country.

The median 2009 compensation for leaders at private schools was $386,000, up 2.2 percent from the year before, according to the latest annual analysis by The Chronicle of Higher Education. The figures cover 519 presidents at private colleges with total budgets of at least $50 million, and reflect the most recent year for which data from federal tax reports are available.

Constantine Papadakis, the president of Drexel University who passed away in 2009, was the highest paid, though the majority of his $4.9 million compensation came via life insurance and previously accrued compensation paid to his wife. Papadakis earned a base salary of $196,000.

The 10 Highest Paid Private College Presidents: Chronicle Of Higher Education List

$4,912,217 a year for Drexel University? Seriously? Drexel?

College is big business now, Republicans should love them making outrageous salaries.

 

[Mr. H.]

Educational institutions encompassing kindergarten to PhD programs are fraught with cronyism, favoritism, nepotism, mismanagement, abuse, fraud, waste, and incompetence. It's a world unto itself.

 

[Quantum Windbag]

Let's just look at Drexel since right now Drexel seems currently to have the highest paid President.


Drexel has 22,500 students paying a tuition and fees of abut $35,000 each. ($787,500,000 in student tuitions and fees annually)

Room and board is about $13,000 and about 27% of the students live in student housing. 22500 x /27 x 13,000 = $78,975,000)

It has an endowment of $427,023,000

It has a staff to student ratio of about 10-1.

So... if one looks at the complexity of modern universities and one compares the complexity of overseeing that kind of operation, one might very well ask oneself is in fact University presentes are paid enough?

Consider that they manage multiple colleges, with all the tasks associated with education; a significant real estate business; a food services to feed all those folks; multiple locations worldwide where students go; and in Drexels case a huge JOB PLACEMENT system to accomodate the work studies that the kids go into, too

Compare the complexity of running a university to the complexity of running many industries and you'll quickly discover that the university management is much more complex, requires much more finesse AND political machinating.

ARe university presidents being paid huge somes compared to other CEOs?

Give the tasks they have?

I don't really think so.

What do they produce that is worth that much money? Can you give me a list of Drexel graduates that have gone on to be President of the US? Governor of a state? Head of a multinational NGO that combats disease and/or famine? If that is too difficult, give me a list of Drexel alumni who have made a world shattering discovery in science or medicine. What the fuck have Drexel students contributed at all, it sounds like a great place to be a student, but I never heard of it before.

How can you argue CEOs are overpaid and then argue that college presidents are underpaid.

 

[Quantum Windbag]

I have to admit this is a grudge thread, but I really do think it is getting ridiculous, why do college presidents need million dollar salaries and all the other perks they get?

As the economy staggered, private college presidents enjoyed modest raises and saw the ranks of those making at least $1 million swell from 33 to 36 - including the president of a West Virginia school that's facing accreditation problems and has one of the worst official graduation rates in the country.

The median 2009 compensation for leaders at private schools was $386,000, up 2.2 percent from the year before, according to the latest annual analysis by The Chronicle of Higher Education. The figures cover 519 presidents at private colleges with total budgets of at least $50 million, and reflect the most recent year for which data from federal tax reports are available.

Constantine Papadakis, the president of Drexel University who passed away in 2009, was the highest paid, though the majority of his $4.9 million compensation came via life insurance and previously accrued compensation paid to his wife. Papadakis earned a base salary of $196,000.

The 10 Highest Paid Private College Presidents: Chronicle Of Higher Education List

$4,912,217 a year for Drexel University? Seriously? Drexel?

College is big business now, Republicans should love them making outrageous salaries.

Good thing I am not a Republican, I get to complain when I think people make too much. Not being a Democrat I also get to complain when people want to steal other people's money. The best of both worlds, you should try it.

 

[rightwinger]

Let's just look at Drexel since right now Drexel seems currently to have the highest paid President.


Drexel has 22,500 students paying a tuition and fees of abut $35,000 each. ($787,500,000 in student tuitions and fees annually)

Room and board is about $13,000 and about 27% of the students live in student housing. 22500 x /27 x 13,000 = $78,975,000)

It has an endowment of $427,023,000

It has a staff to student ratio of about 10-1.

So... if one looks at the complexity of modern universities and one compares the complexity of overseeing that kind of operation, one might very well ask oneself is in fact University presentes are paid enough?

Consider that they manage multiple colleges, with all the tasks associated with education; a significant real estate business; a food services to feed all those folks; multiple locations worldwide where students go; and in Drexels case a huge JOB PLACEMENT system to accomodate the work studies that the kids go into, too

Compare the complexity of running a university to the complexity of running many industries and you'll quickly discover that the university management is much more complex, requires much more finesse AND political machinating.

ARe university presidents being paid huge somes compared to other CEOs?

Give the tasks they have?

I don't really think so.

What do they produce that is worth that much money? Can you give me a list of Drexel graduates that have gone on to be President of the US? Governor of a state? Head of a multinational NGO that combats disease and/or famine? If that is too difficult, give me a list of Drexel alumni who have made a world shattering discovery in science or medicine. What the fuck have Drexel students contributed at all, it sounds like a great place to be a student, but I never heard of it before.

How can you argue CEOs are overpaid and then argue that college presidents are underpaid.

My son graduated from Drexel and they have a good school with an outstanding co-op program. Facilities are in downtown Philadelphia and are not spectacular

The costs of attending a university are out of hand. Escalating salaries of Presidents and coaches do nothing to improve the quality of education. These presidents do nothing of the complexity or overarching impact of a major CEO.

 

[Quantum Windbag]

Let's just look at Drexel since right now Drexel seems currently to have the highest paid President.


Drexel has 22,500 students paying a tuition and fees of abut $35,000 each. ($787,500,000 in student tuitions and fees annually)

Room and board is about $13,000 and about 27% of the students live in student housing. 22500 x /27 x 13,000 = $78,975,000)

It has an endowment of $427,023,000

It has a staff to student ratio of about 10-1.

So... if one looks at the complexity of modern universities and one compares the complexity of overseeing that kind of operation, one might very well ask oneself is in fact University presentes are paid enough?

Consider that they manage multiple colleges, with all the tasks associated with education; a significant real estate business; a food services to feed all those folks; multiple locations worldwide where students go; and in Drexels case a huge JOB PLACEMENT system to accomodate the work studies that the kids go into, too

Compare the complexity of running a university to the complexity of running many industries and you'll quickly discover that the university management is much more complex, requires much more finesse AND political machinating.

ARe university presidents being paid huge somes compared to other CEOs?

Give the tasks they have?

I don't really think so.

What do they produce that is worth that much money? Can you give me a list of Drexel graduates that have gone on to be President of the US? Governor of a state? Head of a multinational NGO that combats disease and/or famine? If that is too difficult, give me a list of Drexel alumni who have made a world shattering discovery in science or medicine. What the fuck have Drexel students contributed at all, it sounds like a great place to be a student, but I never heard of it before.

How can you argue CEOs are overpaid and then argue that college presidents are underpaid.

My son graduated from Drexel and they have a good school with an outstanding co-op program. Facilities are in downtown Philadelphia and are not spectacular

The costs of attending a university are out of hand. Escalating salaries of Presidents and coaches do nothing to improve the quality of education. These presidents do nothing of the complexity or overarching impact of a major CEO.

I think most CEOs who get massive salaries/benefit packages are over paid, I also think it not the government's concern as long as they pay their taxes. I feel the same way about college presidents and, since you brought them up, coaches. I think any college that wants to compete salary wise with a business has its priorities wrong, and would not want my children going to one of them. High slaries drive up the cost of education, and the cost of products in business.

 

[chanel]

Kean College prez will make $500K next year. It's a shame that he couldn't afford a resume service.

In a recent interview, Farahi said even though there were some errors listed on past resumes, he was not responsible. Farahi said the inaccuracies, including claims that he had been acting academic dean at Avila College in Missouri and that he published "over 50 technical articles in major publications," were made by staff members at Kean who helped prepare his resume for routine accreditation reviews at the university in 1994, 2001 and 2008.

"I did not create the data sheet," Farahi said in the interview with The Star-Ledger.

Farahi, who became president in 2003 and earns a base salary of $293,550 annually and will be eligible for a $200,000 bonus next year, said digging through old versions of his resume is just another attempt by union officials to discredit him.

Kean president says resume errors were made by university staff | NJ.com

 

[uscitizen]

And how much are the university athletic coaches paid?

 

[editec]

Let's just look at Drexel since right now Drexel seems currently to have the highest paid President.


Drexel has 22,500 students paying a tuition and fees of abut $35,000 each. ($787,500,000 in student tuitions and fees annually)

Room and board is about $13,000 and about 27% of the students live in student housing. 22500 x /27 x 13,000 = $78,975,000)

It has an endowment of $427,023,000

It has a staff to student ratio of about 10-1.

So... if one looks at the complexity of modern universities and one compares the complexity of overseeing that kind of operation, one might very well ask oneself is in fact University presentes are paid enough?

Consider that they manage multiple colleges, with all the tasks associated with education; a significant real estate business; a food services to feed all those folks; multiple locations worldwide where students go; and in Drexels case a huge JOB PLACEMENT system to accomodate the work studies that the kids go into, too

Compare the complexity of running a university to the complexity of running many industries and you'll quickly discover that the university management is much more complex, requires much more finesse AND political machinating.

ARe university presidents being paid huge somes compared to other CEOs?

Give the tasks they have?

I don't really think so.

What do they produce that is worth that much money?

Same as every other service business, Quant --- they provide a service that their customers want.

Can you give me a list of Drexel graduates that have gone on to be President of the US? Governor of a state? Head of a multinational NGO that combats disease and/or famine?

What difference does that make? I thought you were a capitalist, lad.

Don't the customers decide the value of the service they'r purchasing?

Are you going to tell them what they want?

What are you? Some kind of commie-fascist telling people how they ought to live their lives and spend their money?

If that is too difficult, give me a list of Drexel alumni who have made a world shattering discovery in science or medicine. What the fuck have Drexel students contributed at all, it sounds like a great place to be a student, but I never heard of it before.

Is this complaint of yours about Drexel, or does it include every university?

How can you argue CEOs are overpaid and then argue that college presidents are underpaid.

I didn't argue that CEOs are over paid, sport. I merely pointed out that university CEOs are running highly complex service industries with thousands of employees whose combined mission was highly complex, AS COMPLEX or more so than many other industries.

Far more complex for example, than running a PIZZA PIE empire.

You're struggling with a strawman of your own devise here.

 

[chanel]

And how much are the university athletic coaches paid?

Excellent point. Greg Schiano - Rutgers football coach - $2 mil. Highest paid state employee.

Oh and QW - Drexel has a long list of accomplished grads. Most recently:

July 21, 2011 — Atlantis Landing Philadelphia native and Drexel mechanical engineering alumnus Christopher Ferguson (’84) led space shuttle Atlantis and the STS-135 crew to a safe landing July 21, at 5:57 a.m. at NASA’s Kennedy Space Center.

But I doubt it has anything to do with its president.

List of Drexel University alumni - Wikipedia, the free encyclopedia

 

[Quantum Windbag]

Kean College prez will make $500K next year. It's a shame that he couldn't afford a resume service.

In a recent interview, Farahi said even though there were some errors listed on past resumes, he was not responsible. Farahi said the inaccuracies, including claims that he had been acting academic dean at Avila College in Missouri and that he published "over 50 technical articles in major publications," were made by staff members at Kean who helped prepare his resume for routine accreditation reviews at the university in 1994, 2001 and 2008.

"I did not create the data sheet," Farahi said in the interview with The Star-Ledger.

Farahi, who became president in 2003 and earns a base salary of $293,550 annually and will be eligible for a $200,000 bonus next year, said digging through old versions of his resume is just another attempt by union officials to discredit him.

Kean president says resume errors were made by university staff | NJ.com

I love how people think that, unless they did it, it ain't their fault. The guy should have read his resume when it hit his desk for final approval.

 

[Quantum Windbag]

Same as every other service business, Quant --- they provide a service that their customers want.

Being a college dean is not a service business, neither is being a CEO.

What difference does that make? I thought you were a capitalist, lad.

Don't the customers decide the value of the service they'r purchasing?

Are you going to tell them what they want?

What are you? Some kind of commie-fascist telling people how they ought to live their lives and spend their money?

Which customers are you talking about? Do you really see colleges as customers for the service of deans? Is the supply of deans so limited that exorbitant prices actually reflect the market, or is it artificially inflated through manipulation and/or fraud?

Capitalists ask these types of questions before they buy. Socialists just assume it is wrong and empower the government to step in and fix it.

Is this complaint of yours about Drexel, or does it include every university?

It includes every university that thinks it should compete with the business world for deans. Running a business and a school require different skill sets, there is no competition.

I didn't argue that CEOs are over paid, sport. I merely pointed out that university CEOs are running highly complex service industries with thousands of employees whose combined mission was highly complex, AS COMPLEX or more so than many other industries.

Far more complex for example, than running a PIZZA PIE empire.

You're struggling with a strawman of your own devise here.

I am not the one with a strawman, I actually think CEOs are overpaid. I don't however, thing it is the government's business how much a CEO makes. The same cannot be said about publicly funded universities because taxpayer dollars directly support those, and that gives taxpayers, otherwise known as customers, a say in what is being paid.

 

[Quantum Windbag]

And how much are the university athletic coaches paid?

Excellent point. Greg Schiano - Rutgers football coach - $2 mil. Highest paid state employee.

Oh and QW - Drexel has a long list of accomplished grads. Most recently:

July 21, 2011 — Atlantis Landing Philadelphia native and Drexel mechanical engineering alumnus Christopher Ferguson (’84) led space shuttle Atlantis and the STS-135 crew to a safe landing July 21, at 5:57 a.m. at NASA’s Kennedy Space Center.

But I doubt it has anything to do with its president.

List of Drexel University alumni - Wikipedia, the free encyclopedia

Thanks chanel, it is nice to know they accomplished something. Still think the guy is massively overpaid.

Michael Behe ought to get rdean into a rant about Drexel all by himself.

 

[chanel]

Ha ha. Well I'm a bit biased. My youngest goes there for engineering.

Rdean's head might explode if he knew my son was a registered Republican, a product of Catholic school, and an Eagle Scout. And he's gotten straight A's in his math and science courses.

Oh and his roommate is a Mexican/American from CA. Also a Republican and a straight A student.

 

[Quantum Windbag]

Ha ha. Well I'm a bit biased. My youngest goes there for engineering.

Rdean's head might explode if he knew my son was a registered Republican, a product of Catholic school, and an Eagle Scout. And he's gotten straight A's in his math and science courses.

Oh and his roommate is a Mexican/American from CA. Also a Republican and a straight A student.

Don't get me wrong here, the only thing I really have against Drexel is that they were on the list, which made them a convenient target, and I think paying anyone that kind of money is ridiculous, which is one reason I avoid movies. Behe was the first name on the list I recognized, and I am willing to bet he did not get his ideas from any of his teachers at Drexel.

 

[chanel]

You don't need to convince me that these universities are out of control.

In fact, Drexel demands payment in full for the entire year up front. You are forced to buy the insurance, God forbid your kid drops out or gets sick.

I am a Rutgers alumni. The Star Ledger did an expose a few years ago on how many staff members made over six figures. Not one was a teacher. The girls' basketball coach makes close to a mil.

 

[Quantum Windbag]

Sports programs are ridiculous. There are only a handful of big time football programs that pay for themselves, and none of them rate the salaries that coaches pull down.