Is your university president overpaid?

  • Article by: Richard Vedder , Bloomberg News
  • Updated: May 13, 2013 - 1:20 PM

If higher education wishes to maintain its privileged position in American society, it needs to contain its spending. A good place to start is at the top.

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mgtwinsfan1987May. 13, 13 2:15 PM

So when a CEO makes multi-millions, it is defensible because it is important to get the best man possible, but in education, who gives a rip? Not saying here that I support these large salaries, and as a public employee I understand these folks are paid for by public dollars. But they ARE running the equivalent of major corporations.

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kenw1952wMay. 13, 13 2:21 PM

Of course they are. University Presidents use to manage the University whereas now it has become a title + salary with little to no accountability, job duties and worst of all no transparency in what they do and how they spend the State's money. Kahler can't hire a janitor without paying a "search committee", he has no clue as to how many administrators that he employs, has no oversight over the athletic department that is totally dysfunctional and doesn't even have the ability to make a profit selling beer to college students......and he is the "president" which is a joke.

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nathanhaleMay. 13, 13 2:23 PM

Yes! No need for further comment.

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middleman711May. 13, 13 2:34 PM

All we get for the extravegant salaries these University Presidents make are over-built campuses, bloated bureaucracies, and tuition rates that are putting our young people in debt for years and years. Let private universities waste private money on fancy buildings, fancier titles, overpaid presidents and as many assistant deputy deans as they want; when it comes to public universities funded in large part by the taxpayers and students of this state, every effort should be made to run them as efficiently as possible. And that means starting at the top.

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pumiceMay. 13, 13 3:09 PM

From the article: "Big corporations pay their leaders more, but those institutions pay taxes that partially benefit universities [and benefit from 'special privileges, such as government subsidies and tax exemptions,' with little evidence that they are 'good stewards of the public trust']." (1) More? Big corporations pay their leaders more??? That's putting it mildly--both in absolute terms and relative to the lowest paid worker. (2) Regarding taxes, the OMB reports that the share of Federal tax revenue paid by individuals is about the same today as it was in 1950 (~40% in 1950, ~40% today); the share of Federal tax revenue paid by workers via payroll taxes has more than tripled (~11% in 1950, ~40% today); the share of Federal tax revenue paid by corporations has declined sharply (~26% in 1950, ~10% today).

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gandalf48May. 13, 13 3:30 PM

mgtwinsfan1987 - [So when a CEO makes multi-millions, it is defensible because it is important to get the best man possible, but in education, who gives a rip? Not saying here that I support these large salaries, and as a public employee I understand these folks are paid for by public dollars. But they ARE running the equivalent of major corporations.] *** Just like the investors in a business have the right to limit compensation for the CEO of that business, tax payers reserve the right to limit the pay for a public official. Even the president only makes around $400k/year; no public official should make more than the president. When you make your money from the tax payers you will be bound by their rules, just like if you live on welfare you should not be buying steaks and lobster...you should be buying more economic foods.

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herby2013May. 13, 13 3:44 PM

These very same University presidents earning $600,000 per year (like U of M President Eric Kaler) are responsible for indoctrinating students into believing that earning money is wrong, that it is "inequitable" that some people earn good money and others don't, and into believing it is right and proper to steal via taxation money earned by people engaged in private commerce. The University of Minnesota is largely government funded, possibly even majority so. The thought of this government-funded President earning $600,000 per year while tuition is growing at 4 times the rate of inflation and burdening poor college kids with massive debt makes me sick! You want to earn big money? Go work in the private sector or start your own business. Government-funded universities or other government-funded organizations are not supposed to exist to enrich the elitists.

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badcowardMay. 13, 13 3:55 PM

Pretty obvious that the answer is yes. How about an article telling the populace how the new immigration bill is targetes to continue flooding the US labor market with 33,000,000 foreign worker visa permiots over the next decade. Or does the media think that the readers should not hear about this until the bill is passed and rammed down our throats?

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luzhishenMay. 13, 13 4:01 PM

My university president is not overpaid. The folks who run the semipro sports are. Ditch that junk and watch the cost of college fall...oh, and there will always be intramurals and phy ed classes.

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pumiceMay. 13, 13 4:06 PM

If you think University presidents are overpaid, what must you think of coaches! In 40 states the highest paid public employee is the football/basketball/hockey coach at the largest state school.

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