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Where Does All the Money Go? Let's Kick Around Colgate University - Nathan Lewis - New World Economics

It's even worse than that, I'm afraid. There's a massive over- and double- counting of faculty that you can't get from that sheet. Many of the "faculty" are actually staff/administrators. For example, at my school, the deans and librarians were counted as faculty, effectively halving the student/faculty ratio. There are similarly weird "job definition" rules that allow for some amazing salaries at the administrative level (for a time, the HR person was earning over a quarter million a year at a CC with less than 1000 students, because she was in position to re-define her job).

Anyway, you should go to some classes, and see with your own eyeballs, that there are more than 10 students in a typical class; this should be particularly true at an undergraduate-focused school, which wouldn't have the hyper-specialized material of grad school.

I'd love to know how to get those kinds of salaries; I've over 25 years of experience in higher education, books, many published (and paid) articles, spotless record, and will never break 50k in salary in my lifetime. I know my retirement income will be approximately zero (I'll have a better estimate in around 10 years), despite having the same employer for 20 years now.

Did you note how quickly the bonus compensation to the "top employees" is skyrocketing? A million in 2011, over three million in 2013? This is typical.

Meanwhile, when I do the math regarding the tuition of my students, I see I'm bringing in near 7 figures of revenue every year. Even though most students don't actually pay the sticker price of tuition, you, I, and everyone else who tries to follow the money in higher education gets puzzled trying to figure out where, exactly, does that money go.

I address many higher education-related questions on my blog: www.professorconfess.blogspot.com.

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Beginning of the headline :Colgate University is a top tier liberal arts college that's near me. I often use their library. Today, I'll use them as an example of where the money comes from, and goes, in the better sort of university today. Colgate is focused on undergraduate education, and doesn't have much in the way of graduate studies or research, which simplifies things. Colgate has 2,872 students, and 296 faculty, for a student:faculty ratio of a little better than 10:1. Pretty cushy. Headline tuition for 2015-16... Read More

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