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Ivy league schools in particular are essentially just endowment funds with some teachers around to keep their non-profit status. There are plenty of great educ

by munk-a 3y ago

Ivy league schools in particular are essentially just endowment funds with some teachers around to keep their non-profit status. There are plenty of great educational institutions out there but the most prestigious ones are suffering from their success and attracting money-minded management that is more focused on growing their investment portfolio and handing out juicy bonuses than attracting good staff and ensuring a good educational environment. And even with all that universities still have better a more altruistic profit alignment than most private firms.

blackhawkC17 3y ago
> There are plenty of great educational institutions out there but the most prestigious ones are suffering from their success and attracting money-minded management that is more focused on growing their investment portfolio and handing out juicy bonuses than attracting good staff and ensuring a good educational environment. People keep trotting this line but without any substantial proof. Harvard's highest paid employee is a faculty member, David Malan, of the popular CS50 course earning $1.6 million annually [1]. It's always been faculty members earning even more than the President. I assume you're counting Harvard Management Company, the firm managing Harvard's endowment. Yeah, the CEO earns $9 million annually, which is quite high [2]. But there's a catch; were he in the private industry managing a $50 billion+ fund, he'll easily clear $50 million+ in annual compensation, if not $100 million depending on the performance. The endowment managers operate differently from the institution, and salaries are actually much lower than in the private sector. Maybe you want to complain about inequality, sure, but that's another thing entirely. They're paying the least they can to get expert fund managers.. 1- https://projects.propublica.org/nonprofits/organizations/42103580 https://projects.propublica.org/nonprofits/organizations/421... 2- https://projects.propublica.org/nonprofits/organizations/237361259 https://projects.propublica.org/nonprofits/organizations/237...
detourdog 3y ago
The number of $100 million+ buildings a New England town of 8,000 can have is staggering. The problem is the idle hands and minds these buildings house. The number of administrator looks like a make work project to create more jobs.

by munk-a 3y ago

blackhawkC17 3y ago

> There are plenty of great educational institutions out there but the most prestigious ones are suffering from their success and attracting money-minded management that is more focused on growing their investment portfolio and handing out juicy bonuses than attracting good staff and ensuring a good educational environment. People keep trotting this line but without any substantial proof. Harvard's highest paid employee is a faculty member, David Malan, of the popular CS50 course earning $1.6 million annually [1]. It's always been faculty members earning even more than the President. I assume you're counting Harvard Management Company, the firm managing Harvard's endowment. Yeah, the CEO earns $9 million annually, which is quite high [2]. But there's a catch; were he in the private industry managing a $50 billion+ fund, he'll easily clear $50 million+ in annual compensation, if not $100 million depending on the performance. The endowment managers operate differently from the institution, and salaries are actually much lower than in the private sector. Maybe you want to complain about inequality, sure, but that's another thing entirely. They're paying the least they can to get expert fund managers.. 1- https://projects.propublica.org/nonprofits/organizations/42103580 https://projects.propublica.org/nonprofits/organizations/421... 2- https://projects.propublica.org/nonprofits/organizations/237361259 https://projects.propublica.org/nonprofits/organizations/237...

detourdog 3y ago

The number of $100 million+ buildings a New England town of 8,000 can have is staggering. The problem is the idle hands and minds these buildings house. The number of administrator looks like a make work project to create more jobs.