In the past I have ranted about the exorbitant incomes of corporate executives that are making it impossible for workers to earn a living wage and raising the cost of the products and services we get. Now that same kind of greed is beginning to infect the executives in our educational institutions. “College costs have been rising nearly 5% a year for the past 10 years—more than double the rate of inflation. All these schools face rising costs for health insurance, technology, faculty and infrastructure but public institutions also suffer from a decline in state and local government financing… Still, that doesn’t seem to have hurt the paychecks of the presidents of public universities. Their median pay packages jumped 5% to $441,392 for the 2011-2012 fiscal year, and a growing number of those presidents took in more than $1 million, according to an analysis by the Chronicle of Higher Education.” (http://finance.yahoo.com/blogs/daily-ticker/presidents-public-universities-millions-tuition-soars-154116804.html?vp=1&l=1 )
Soon there will be no one who can afford to go to college except children of corporate and college executives. I understand (but find it disgusting) that many corporate execs live for the sole purpose of gaining more money and power. However, I don’t understand how someone who dedicates their life to education can place excessive amounts of personal gain ahead of the education of our people.
I think all educators, from substitute teachers to college presidents should be paid well. However, I don’t see any reason for salaries in hundreds of thousands or millions of dollars. Since all teachers are college graduates, there should be no low income teachers. If a college president made five times as much as the lowest paid teacher, the range of salaries would make sense. As it is, a college with a million plus dollar executive can have teachers being paid less than fifty thousand dollars. That is just crazy.