Higher Educ. - How Colleges Are Wasting Our Money... by A. Hacker, et. al.,

By A. Hacker, et. al.,

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Cm. Includes index. ISBN 978-0-8050-8734-5 1. Education, Higher—United States. 2. College costs—United States. 3. College teachers—United States. I. Dreifus, Claudia. II. Title. 73—dc22 2010007219 Henry Holt books are available for special promotions and premiums. For details contact: Director, Special Markets. First Edition 2010 Designed by Kelly S. Too Printed in the United States of America 1 3 5 7 9 11 8 6 4 2 To our country’s students, who deserve better CONTENTS Introduction: Higher Education?

By 2007, the most recent available year, there were 63 such people for every 1,000 students. Nor are we talking about groundskeepers or cafeteria workers, although we will later. Right now our interest is in professionals like admissions officers and assistant deans. Since 1976, their campus presence has more than tripled. True, the number of students has also grown, but by less than the rate of the administrative phalanx. For a look at these positions, we examined employment openings advertised in the Chronicle of Higher Education (rate: $2,936 per quarter-page).

And it’s true that apart from coveted coaches and medical school stars, salaries top off at six figures. Still, it’s not self-evident that many academics would be doing better in more demanding occupations. According to the American Association of University Professors, the average pay for full professors, a rank usually reached by one’s early forties, came to $108,749 in 2008–9. By comparison, salaried lawyers averaged $91,052; for chemical engineers the figure was $80,392, and financial analysts came in at $71,656.

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