Boston Globe quotes Humphreys on Brandeis president's controversial pay package
College presidents across the country are negotiating huge exit packages when they step down, which critics say is emblematic of schools' unrestrained spending on everything from administrative salaries to elaborate new buildings. The average cost of higher education has soared 70 percent over the past decade due to rising administrative expenses. In addition, pay for university presidents has ballooned, with dozens of college leaders receiving at least $1 million a year.
Todd Wallack quotes Joshua Humphreys, president and senior fellow at Croatan Institute who has studied excessive compensation with colleagues from Tellus Institute: "It used to be egregious. Now it's just business as usual."
To learn more about Croatan Institute's research, visit the Institutional Accountability program page and "Academic Excess: Executive Compensation at Leading Private Colleges and Universities in Massachusetts."
Source: Todd Wallack, "A Gilded Goodbye for Many Private College Leaders," Boston Globe, December 17, 2013.