4 ms·
My question is what did you pay him? If the job market is really such a buyers market, instead of hiring one guy at $100k/yr, why not hire two at $50k/yr?
by tsotha 14y ago
My question is what did you pay him? If the job market is really such a buyers market, instead of hiring one guy at $100k/yr, why not hire two at $50k/yr?
- RougeFemme 14y agoYou might assume the total cost of those 2 options is equal, but when you look at the overhead/additional compensation (insurance, retirement, etc.) for each position, it might actually be cheaper to hire 1 at 100K rather than 2 at 50K.
- w1ntermute 14y ago> it might actually be cheaper to hire 1 at 100K rather than 2 at 50K You're totally missing the point. The GP was just giving an example. Adjust the numbers however you want so that the latter option is cheaper.
- josephhardin 14y agoThere is a bigger issue at work here. You can pay the one professor 100K, and have a slightly more relaxed professor that is likely to be more productive, or hire two at 50K that end up spending a large amount of their time looking for better opportunities, worrying about money, losing self esteem when comparing themselves to other professors that are making that 100K, etc. There is a threshold below which, you are just throwing away money.
- impendia 14y agoI'm not sure, probably 75-80k, for the most part pay is very inelastic. Whether fairly or not, I anticipate that any university attempting to pay below 50% the going rate would quickly get a very bad reputation. I would probably take a 50% pay cut to work at my dream institution, but I'm definitely in the minority (and also I don't have kids).