Tuesday, January 15, 2013

Do we spend the money correctly and on the right people?

Still on New School's Payroll, Bob Kerrey Takes another Job” (http://chronicle.com/article/Still-on-New-Schools-Payroll/136665/?cid=at&utm_source=at&utm_medium=en); I am curious as to what he doing for the school and if the school is getting full value other than his name. Must be nice to be able to double dip like that and still earn a high six-figure salary.

I should start out by saying this entry is not about people ‘earning” large amounts of money (emphasis on earning) in private higher education, it is more about what is the value the institution is getting for their money.

Have you ever read the list that comes out of the chronicle every year: “Pay and Perks Creep Up for Private-College Presidents” http://chronicle.com/article/PayPerks-Creep-Up-for/136187/)? Whom we should be hearing from is not the large earners, but the frontline employees in those organizations on the list. You do have to question why the true revenue generators are earning 3% or less than the president of the institution is, and yet they are required to have bachelor’s (and master’s sometimes for promotion) degrees and become more productive every year for only a maximum 3% cost of living raise. It would not take much to adjust the wages to something more reasonable, and a living wage and benefits would reduce employee turnover.

I think there should be yearly list showing the pay and benefits of frontline employees at private higher education institutions. I theorize that we will see high turnover at those places that have not adjusted their pay rates since the 1970s and possible less job satisfaction. Perhaps then, we will start to see some uniform equity amongst intuitions, which will mean more longevity at the job (some institutions on the list do get this right by the way).

 More longevity means front line workers will be more invested in the students and not always looking for greener pastures. It is all about the student right?

Dr Flavius A B Akerele III

The ETeam

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