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Thread: LSU drafting 'academic bankruptcy' plan in response to state budget crisis

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    Re: LSU drafting 'academic bankruptcy' plan in response to state budget crisis

    Quote Originally Posted by buck View Post
    It's impossible to know without more information, but I've got some friends that are Professors, several in economics. The guys making the big money are often cash cows. One person in particular I know brings in a ton in consulting work that floats an entire research section, all of his salary, half the salary of several econ faculty, admin, plus an annual many $thousands transfer to technology for the rest of the department, and he teaches 1/2 class per year many years. There is no one making that kind of money just sitting around overseeing graduate students.

    The other thing is most of the well paid folks, especially in the business fields, are endowed professors, so those examples in Wisconsin might be the (e.g.) Charles Koch Professor of Economics, with who knows ($100k?) of that salary paid for out of an endowed fund. Any decent school will have several of those for the most senior faculty in the business departments. It's also common for local businesses to make donations short of endowments to "augment" salaries for the areas they are most interested in, such as economics and accounting. So the money flows through the school, but is earmarked for higher salaries for the express purpose of attracting the big guys to campus - so accounting firms as a group might donate $200k/year to go to salary for senior accounting professors, etc.

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    Re: LSU drafting 'academic bankruptcy' plan in response to state budget crisis

    Quote Originally Posted by buck View Post
    As noted by Frodly (post #17) a "few outliers" doesn't really tell the whole story.

    2014-2015 average professorial salaries - Univ of Wisconsin-Madison

    Anyone who thinks "overseeing graduate students as they write their theses" is not to be regarded as "teaching", don't know **** about graduate level education.
    “And I have no doubt that every new example will succeed, as every past one has done, in shewing that religion & Govt will both exist in greater purity, the less they are mixed together.”
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    Re: LSU drafting 'academic bankruptcy' plan in response to state budget crisis

    Quote Originally Posted by Frodly View Post
    Sorry, I forgot to include economics in my post.
    Sure, i guess if you keep eliminating professors and departments that make more than $250,000.00 / year, you'll eventually get to a spot where no professors make $250,000.00 /year.

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    Re: LSU drafting 'academic bankruptcy' plan in response to state budget crisis

    Quote Originally Posted by MrVicchio View Post
    One can ask "Is the La. Government making drastic cuts or are they forcing a previously bloated system to reform by starving the beast?"
    One can ask it but it don't make the "bloated system" premise true.

    What has been happening at universities and colleges across the country is the expanding number of adjunct instructors, many with equal qualifications to those professors making the outrageous salaries so targeted by those who really don't like expanded opportunities for education. Different from previous times, the adjunct profs are not on "tenure tracks" as a recent study shows.
    The average salary of a full-time faculty member increased by 1.7 percent in 2012-13, roughly keeping pace with inflation, according to a report being released today by the American Association of University Professors.

    The increases in average salary were far from uniform. Gains were larger at private than at public institutions, and gains were larger at doctoral institutions than in other sectors. In other words, the (relatively) wealthy got wealthier.

    The AAUP report notes repeatedly that the salaries covered in this study represent a minority (and a shrinking minority at that) of those teaching in American higher education. While full-time, non-tenure-track faculty members are included, part-timers are not. So while adjuncts are doing a larger and larger share of teaching, their pay levels aren't reflected here. Given that adjuncts tend to earn a fraction of what tenure-track professors take home, and that benefits are generally minimal (if there are any), an overall economic picture of the American professoriate would be much bleaker than this one.
    “And I have no doubt that every new example will succeed, as every past one has done, in shewing that religion & Govt will both exist in greater purity, the less they are mixed together.”
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    Re: LSU drafting 'academic bankruptcy' plan in response to state budget crisis

    Quote Originally Posted by Somerville View Post
    One can ask it but it don't make the "bloated system" premise true.

    What has been happening at universities and colleges across the country is the expanding number of adjunct instructors, many with equal qualifications to those professors making the outrageous salaries so targeted by those who really don't like expanded opportunities for education. Different from previous times, the adjunct profs are not on "tenure tracks" as a recent study shows.
    The bloated system is the entire higher education system:

    education_sm.jpg
    C.T.L.W. You figure it out



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    Re: LSU drafting 'academic bankruptcy' plan in response to state budget crisis

    Quote Originally Posted by MrVicchio View Post
    The bloated system is the entire higher education system:

    education_sm.jpg
    Your graph does not support your contention of "bloated" university costs. It shows how much more students are paying to attend college.

    Reality is that almost every state has cut funding for colleges and universities below the rate of inflation and population growth. One consequence of rising costs has been a drop in college enrollment numbers, which means those institutions which had spent money using past growth rates now don't have the students to either pay for or utilise the expanded facilities.
    “And I have no doubt that every new example will succeed, as every past one has done, in shewing that religion & Govt will both exist in greater purity, the less they are mixed together.”
    ~ James Madison, letter to Edward Livingston, July 10, 1822

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    Re: LSU drafting 'academic bankruptcy' plan in response to state budget crisis

    Quote Originally Posted by Frodly View Post
    What professors make 250 grand a year? Maybe at the very best law schools and business schools I suppose it might be possible some one makes that amount of money, but the average professor salary is very low. Especially now that tenured professors are becoming so rare, and adjuncts and assistant professors are picking up the slack. Adjuncts make a very small amount of money.

    Otherwise I agree entirely. The administrators are probably the worst. They have administrators making millions, and what do we get out of it? And how can an academic establishment justify spending 7 million dollars a year on a football coach? It really is crazy.
    here's a lil blurb on salaries.
    Who were LSU's 25 highest-paid employees in 2013-14? | NOLA.com

    the only defense for the football coach making so much money is that football program usually bring in a whole ****ton of money.... and winning coaches don't come cheap....

    but when you're school is going broke... it's time to look at cutting costs, a bunch.... no sense in getting grid of 10 or 20 adjuncts/assistant professors when you can can 1 or 2 of the high priced superstars on campus and save the same amount of money.

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    Re: LSU drafting 'academic bankruptcy' plan in response to state budget crisis

    Quote Originally Posted by Thrilla View Post
    here's a lil blurb on salaries.
    Who were LSU's 25 highest-paid employees in 2013-14? | NOLA.com

    the only defense for the football coach making so much money is that football program usually bring in a whole ****ton of money.... and winning coaches don't come cheap....

    but when you're school is going broke... it's time to look at cutting costs, a bunch.... no sense in getting grid of 10 or 20 adjuncts/assistant professors when you can can 1 or 2 of the high priced superstars on campus and save the same amount of money.
    That's possible, but without more information it's a lot like saying, well, Public Company Z lost money last year, so fire the CEO first - his $2 million salary is the same as 40 midlevel people!

    It could be the best strategy, but if that 'superstar' brings in $500k/year and he's paid $200k, you're not winning much by firing him.

    The top guy in at UW in econ - looked him up. He's got an endowed chair which pays some significant part of his salary and he's department chair, and as such is the one who (usually) is responsible for the fundraising. Depending on how he does, he could be bringing in 10 times his salary.

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    Re: LSU drafting 'academic bankruptcy' plan in response to state budget crisis

    Quote Originally Posted by MrVicchio View Post
    The bloated system is the entire higher education system:

    education_sm.jpg
    Here's a better graph for you:



    This shows that as state funding for public universities has decreased, tuition has increased proportionately. Because federal support of higher education mainly comes in the form of tuition assistance, while tuition rates have risen, the ability to access higher education hasn't decreased. This has led to an increase in the overall national student debt load.

    In short, the majority of the increase in the student debt burden that the country faces is from a drastic reduction in state support with a federal promotion of student debt issuance. In order to reverse the process, the solution is to increase state support of public universities and decrease federal support of student debt issuance.
    "I do not claim that every incident in the history of empire can be explained in directly economic terms. Economic interests are filtered through a political process, policies are implemented by a complex state apparatus, and the whole system generates its own momentum."

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    Re: LSU drafting 'academic bankruptcy' plan in response to state budget crisis

    Quote Originally Posted by JasperL View Post
    That's possible, but without more information it's a lot like saying, well, Public Company Z lost money last year, so fire the CEO first - his $2 million salary is the same as 40 midlevel people!

    It could be the best strategy, but if that 'superstar' brings in $500k/year and he's paid $200k, you're not winning much by firing him.

    The top guy in at UW in econ - looked him up. He's got an endowed chair which pays some significant part of his salary and he's department chair, and as such is the one who (usually) is responsible for the fundraising. Depending on how he does, he could be bringing in 10 times his salary.

    LSU Football Revenues - $74,275,838.00

    LSU Football Expenses - $25,822,228.00


    Most Profitable College Football Programs: #5 LSU -


    Not only does football and basketball bring in more than they spend, they support ALL of the sports that don't/can't support themselves AND kick back millions to the University's education and financial aid programs.

    They're earners, not takers.
    "We were a 10 year opposition party, where being against things was easy to do" - Speaker of the United States House of Representatives, Paul Ryan (R) - Meet the Press 3/26/17

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