After reading this article over at Tenured Radical, I found myself asking a question:
Should any university employee make over a million dollars a year?
Now we're not talking a hundred thousand per year, which sum I fully expect never to make in a single year, though certain people also give me hope in this department, even as they voice their concerns over a lack of raises. This is over a million. That's making the amount of money in a single year that a few years ago investment analysts were saying you should optimistically have in the bank when you retire. At my current rate of pay, it would take me nearly 60 years to gross that amount, let alone save it. Now to be fair, I'm on the low-paying but fair "we pay your costs and you get a degree" scheme right now, and if I don't start making more after I get said degree, well, I'll have to find a new line of work.
So, a cool million.
My answer is a simple, categorical no.
The President of the United States of America only makes 400k. Why should the president of a university make more than double that of the so-called leader of the free world?
And the term "make" is really a misnomer. Why should they be given a million dollars in compensation for their labours? Do they work that much harder? Contribute that much more to the value of the institution? If Dean Dad reads this, I'm sure he'll have an at least half-way reasonable answer from an economic perspective, but me? I just can't see it.
Maybe you have to be a university president to understand why they need to be paid so much.
I just don't understand.
Any hints? Let me know in the comments if you have a good idea.