4 ms·
So students pay insane tuitions and professors are relatively underpaid. Where does all the money go?
by droidist2 8y ago
So students pay insane tuitions and professors are relatively underpaid. Where does all the money go?
- mac01021 8y agoAt CMU, annual tuition is less than $24,000. There are less than 14,000 students enrolled, which means total tuition paid must be less than $336M. If all that money were equally divided between the 1400 faculty members, they'd each get a salary of at most $240k per year, which is really high in the grand scheme of things but kind of low for these specific facebook jobs that we're talking about. Now consider that much (most?) of that revenue must actually be spent on the 2,500 staff members supporting university operations, building maintenence, etc. I don't think there is any great mystery to solve here. Edit: see the replies to this post. It seems the tuition at CMU I'd double what I thought it was. I still don't think the revised numbers are any more mysterious, though.
- cmuguythrow 8y agoUndergraduate tuition at CMU is $52,732 per year https://www.cmu.edu/news/stories/archives/2017/january/tuition-and-fees.html https://www.cmu.edu/news/stories/archives/2017/january/tuiti...
- mac01021 8y agoIndeed you are right! The collegedata page that Google took me to must have been woefully out of date. Still, a mere doubling of the faculty salaries I was describing above is likely still not sufficient to compete with these tech giants when hiring someone like a deep learning expert.
- LunaSea 8y agoOne faculty member for ten students is also incredibly high.
- deleted 8y ago[deleted]
- RestlessMind 8y agoSo if someone if getting trained for a type of job which will generate millions of future earning potential for them, should the cost be only 24k (or even 48k) per year?