23 college presidents are corporate hacks
Yeah, so everyone is freaking out over the piece published in the Chronicle of Higher Education about how 23 college presidents have salaries of $1 million or more. I’ll spare you the populist rant (“How could they make so much during a recession/pay cuts!?” blah blah blah). I’m much more interested in why institutions feel the need to pay their presidents so much. You could argue that it’s the result of a competitive job market, but that’s a huge cop-out.
The president is the prize pony of the college: It’s not uncommon for a president to live in a fancy-schmancy mansion owned and maintained by his/her institution. It’s an image thing. You know, “Look at our president. Doesn’t our president make your eyes water with admiration? Smell our president. Go ahead, take a whiff. Smell that? Yes, that’s the smell of success, prestige!”
And the $1 million salary is just part of the image.
This is basic corporate arithmetic. How much money you make = How “successful” and “valuable” you are. If you’re not making good money, you’re probably some sort of pathetic invalid with communist leanings.
Honestly, stop whining about it. This is a good thing. Undergrads need to learn what success looks like, otherwise they’ll never make enough money to pay back their hideous loans.
God Bless The System.