February 25, 2009
Yale Freezes Pay of Faculty Earning > $75k
From a memo sent to Yale faculty and staff by President Richard C. Levin:
- We will reduce 2009‐2010 budgets by an amount equal to 7.5% of the salaries and benefits of all nonfaculty staff, rather than the 5% announced in December. We expect to achieve this reduction largely through attrition in managerial, professional, clerical, technical, service, and maintenance staff, as well as through reduction of casual and temporary employees. To the extent that layoffs are necessary, we will make sure that affected individuals are provided support and guidance.
- We will also seek larger reductions in non‐salary expenditures. Instead of a 5% reduction for each of the next two years, we will ask units to budget a 7.5% reduction for 2009‐2010, and continue to plan for an additional 5% reduction the following year.
- Faculty, managerial, and professional employees with salaries below $75,000 will continue to be eligible for merit increases of up to 2%. But there will be no increases for those with salaries above $75,000, including all deans, directors, and University officers. Foregoing the increases announced previously will allow us to preserve more staff positions.
(Hat Tip: ABA Journal.)
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Maybe now, some of them will seek honorable work.
But, don't they have this backwards? Aren't the faculty making less than $75,000 the kind of hard-working Americans that are going to be benefiting from all that new stimulus money?
Shouldn't the help be going to the richest faculty, since they will be paying such huge tax increases?
Posted by: fustian | Feb 25, 2009 10:50:41 AM
This is going to be a similar story almost everywhere. Social justice suggests high paid professors should sacrifice more than their secretaries. But competitive pressures suggest the opposite, and I suspect they will mostly win out. It won't be pretty.
Posted by: mike livingston | Feb 25, 2009 11:47:44 AM
Funny: are the very people who led the charge for Obama, and later his wealth re-ditributing "bailout", now getting shot in the back?
Sometimes, karma is sweet.
Posted by: Tex Lovera | Feb 25, 2009 12:43:51 PM