Higher Ed Pay for Many Exceeds Inflation Rate
In recent years, there has been a growing debate surrounding the rising cost of higher education in the United States. One aspect of this debate that often goes unnoticed is the salaries of those who work in higher education. A recent study has found that the pay of many college and university employees has been outpacing the rate of inflation.
According to the study conducted by the College and University Professional Association for Human Resources (CUPA-HR), the median salary for full-time faculty members increased by 2.5% in the 2019-2020 academic year. This increase is higher than the 2.3% inflation rate for the same period, indicating that faculty members are seeing real gains in their pay.
Additionally, the study found that salaries for presidents and chief executives at public and private colleges and universities also saw significant increases. The median salary for public college presidents increased by 5.6% to $381,220, while the median salary for private college presidents increased by 7.6% to $479,098.
These findings have sparked debate among higher education stakeholders. Some argue that these salary increases are necessary in order to attract and retain top talent in the field of higher education. They also point out that many faculty members have seen stagnant wages in recent years, making these increases long overdue.
However, others argue that these salary increases are unsustainable and contribute to the rising costs of higher education. They argue that college and university administrators should prioritize reducing tuition costs for students rather than increasing their own salaries.
Regardless of where one stands on this issue, it is clear that the debate surrounding higher education pay is far from over. As colleges and universities continue to grapple with financial pressures and calls for greater accountability, the question of how much higher education employees should be compensated will continue to be a topic of discussion.
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