Inside Higher Education, Carpe Diem on Faculty Hiring?:
Yale University says it is doing more hiring this academic year than it planned during the pandemic. But that falls short of the hiring activity that faculty members want to see: in a months-long campaign, they’ve argued that hiring freezes during COVID-19 are not just damaging to Yale but also unnecessary.
Indeed, Yale’s budget has fared relatively well since the university announced a yearlong hiring freeze at the pandemic’s onset. In a financial update this fall, Scott Strobel, provost, and Jack Callahan, a senior vice president, said that results for the fiscal year that ended in June were “better than expected, thanks to the work of faculty and staff across campus who restrained spending” and other factors.
How much better than expected? The pandemic cost Yale more than $250 million in lost revenue and other expenses. Yet the university still ended the fiscal year with an operating budget surplus of $125 million. Yale’s endowment, which contributes to the annual budget, also saw a 6.8 percent investment return.
Universities continue to be loath to tap into their endowments for extra pandemic relief. But a $125 million budget surplus is significant.
Strobel and Callahan said that 89 percent of the surplus is tied up in reserve balances in individual campus accounts, and anything remaining is a “buffer” for the rest of this year. Still, they announced that Yale was “partially lifting” the freeze on faculty recruitment, to the tune of at least 60 new and continuing faculty searches across the professional schools and the Faculty of Arts and Sciences.
This was good news to many faculty members who vocally opposed any freeze on hiring. Even so, it wasn’t enough: Yale’s Faculty of Arts and Sciences Senate wants the university to be bold, not so cautious.
January 13, 2021 in Legal Ed News, Legal Education | Permalink