Sat Dec 8, 2012, 08:01 AM
xchrom (108,903 posts)
Harvard's Top 5 Endowment Managers Make Almost As Much As 450 Professors Combined
Harvard's endowment is now back over $30 billion.
To manage this endowment, Harvard employs a platoon of hedge fund managers who are paid like, well, hedge fund managers.
Just the top 5 of these hedge fund managers, Unz reports, recently took home $78 million in a single year.
That's $16 million apiece.
Harvard's full professors, meanwhile--all 450 of them--take home $85 million a year.
Read more: http://www.businessinsider.com/harvards-endowment-managers-make-almost-as-much-as-all-450-professors-combined-2012-12#ixzz2ESeFQy5d
8 replies, 1489 views
Harvard's Top 5 Endowment Managers Make Almost As Much As 450 Professors Combined (Original post)
Response to xchrom (Original post)
Sat Dec 8, 2012, 11:15 AM
RZM (8,556 posts)
3. Harvard's endowment is insane
The other Ivies have big ones as well. I wish alumni would consider giving to needier organizations rather than padding some of the wealthiest schools on the planet.
Response to RZM (Reply #3)
Sat Dec 8, 2012, 04:02 PM
Nikia (11,411 posts)
4. Some of it goes to funding the education of needy students there
Assuring that anyone who wants to go to Harvard can without worrying about costs, including loans.
I give to my own college for that reason, even though it cannot afford to be that generous with financial aid. Still, college donors contributed around $60,000 in scholarships for my education.
I understand that many needy children are more concerned about where their next meal is coming from than going to a good college, but donating to one's alma mater is not completely self serving.
Response to Nikia (Reply #4)
Mon Dec 10, 2012, 12:48 AM
RZM (8,556 posts)
6. Yes, but we're talking about 30 billion dollars
Not that I think they should get rid of it, but whatever their aid budget, it's not much when compared with that kind of sum. Not sure what the solution is, but I think it's a combination of a change in donation culture as well as what the money raised is used for. These are supposed to be the smartest people around, so I'm sure they could find ways to spend even a small portion of that.