Thursday, April 17, 2008

Ever wonder why college tuition is so high?

The 14 April 2008 issue of the Bridgewater Courier-News had a story on "higher education salaries" which included the text:

McCormick earns a $525,000 salary, while Rutgers' football coach Greg Schiano pulls in a base salary of $450,000. Two other university employees earn at least $300,000 a year, according to the most recent data available. They are Executive Vice President for Academic Affairs Philip Furmanski and business school Dean Michael Cooper. Senior Vice President Jeffrey Apfel was making $385,840 when he left last year to work at a law firm in Boston.

Various entities have reported that Schiano is the highest paid state employee in New Jersey. Note the Courier-News referenced a "base" salary, and thereby left open the possibility that Schiano might actually be receiving more money. The Courier-News did not pursue that avenue in the April 14 story.

A story in the Free Press in December 2007 had previously noted:

Schiano’s pedigree fits many of the criteria Martin has outlined for Lloyd Carr’s successor. Schiano has significant experience as a head coach — he’s in his seventh season at Rutgers. He is familiar with a high-profile football atmosphere — he was defensive coordinator at Miami (Fla.) in 1999-2000. He has Midwest recruiting ties — he was a Penn State assistant in 1990-95. And he has youth on his side — Martin ideally wants a coach who could stay on the job 10 to 15 years.

Also, Schiano’s salary ($1.73 million) is only slightly more than Carr’s $1.5 million. Martin has said U-M is prepared to pay twice that. The country’s highest-paid coaches make $3 million to $4 million annually.

[If one looks on the internet for reports on Schiano's salary, one will find that a lot of them have been sikahema'd.]

The Courier-News also noted: Rutgers University President Richard L. McCormick is one of 77 Rutgers University employees making at least $200,000 a year, according to salary figures released today.

HigherEdJobs reported results of the 2007-08 Administrative Compensation Survey conducted by The College and University Professional Association for Human Resources (CUPA-HR). Findings reflect salaries of nearly 73,600 job incumbents from public and private institutions nationwide. Salaries were reported by 1,307 institutions for 272 selected positions, mostly at the director level and above. The MEDIAN salary for the CEO of a Ph.D. granting system was $402,789.

See also

The Cousins Recruiting Saga Continues (Again) on John Calipari deal at UK-->

For example, this list of terms reported to be included in Calipari’s Kentucky deal are too good not to post:

The $31.65 million deal making John Calipari the highest-paid coach in college basketball is packed with perks beyond his annual salary, including membership to the country club of his choice, two cars and incentives for reaching the NCAA Sweet Sixteen and Final Four and winning a national title.
The Wildcats paid Memphis $200,000 as part of Calipari’s buyout of his Tigers’ contract, which had paid him $2.35 million per year.
Including $3 million in retention bonuses he’ll get for staying with Kentucky through March 31, 2016, Calipari is in line to receive an average of $4 million a year over the eight years.
Two “late model, quality automobiles,” plus mileage.
Membership in a country club of his choice, including monthly dues and initiation fees.
20 prime “lower-level” season tickets to UK home games.
Eight tickets for each UK home football game.
Hundreds of thousands of dollars in incentives for reaching certain milestones, such as a 75 percent graduation rate or better ($50,000), winning the Southeastern Conference ($50,000), winning the SEC tournament ($50,000), making the NCAA tournament round of 16 ($100,000), making the Final Four ($175,000), or winning the national title ($375,000).
The right to income from conducting basketball camps using UK facilities.
Should the university fire Calipari without cause, he would still receive $3 million for each year left on the contract, double the annual buyout former Kentucky coach Billy Gillispie says he is entitled to under his memorandum of understanding.

***As a (sort of) counterpoint, note the story of Myron Rolle, who was a football player at FSU:

“You’re not talking about somebody who is just driven. You’re talking about somebody who is truly special, the kind of person who becomes a president or a world leader … he’s different.”

In his spare time, Rolle goes on speaking engagements around the country and has worked on developing health programs. This Friday, he’s heading to Madison, Wis., to speak to high school kids. Next week, he’s heading to the Bahamas, where his parents and three of his four brothers were born, to work on a long-term healthcare project.

A week after that, he’s doing a leadership and fitness program for 100 children at Camp Blanding in Starke. Then he heads back to the Bahamas.


Still, you keep looking for something else in this dream to give. The doctor-football player idea sounds cool, but it’s a pretty tough reality to pull off.

“It didn’t for Bill Bradley,” Rolle said, mentioning the former Rhodes Scholar, NBA player and politician who Rolle admires above all others. Rolle went to high school in Princeton, N.J., where Bradley went to college. “That’s the person that I look up to, the icon of what I’m talking about.”


Post a Comment

<< Home