3 ms·
> I'd be curious how indefinite that "indefinitely" really is. According to [1] for $5M UCLA will create a new full time professor post. Glassdoor claims the a
by michaelt 2y ago
> I'd be curious how indefinite that "indefinitely" really is.
According to [1] for $5M UCLA will create a new full time professor post. Glassdoor claims the average UCLA professor's salary is $200k so their endowment investments would have to achieve 4% above inflation just to cover the salary. And of course there are a bunch of expenses on top of just salary so you might want more like 6%.
Can an investor reliably get 6% above inflation? In the 1970s no, in the 1990s yes.
Of course nothing is truly eternal - if there were major political upheaval in the United States, a new regime would have 53.2 billion reasons to find Harvard insufficiently loyal.
[1] https://www.uclafoundation.org/Resources/Endowment https://www.uclafoundation.org/Resources/Endowment