Prospectuses 1

Notes for Thursday, December 4, 2014

I was wrong

The soon-to-be former President of Pitzer did not make $700,000 a year. It was $767,000.

“The Huntington's board chair, Stewart Smith, said … Trombley will begin with a four-year contract. Her annual compensation at Pitzer averaged $767,000 from 2010-2012, the most recent years reported in its public filings — eclipsing Koblik's pay at the Huntington, which totaled $446,000 in salary and benefits in 2012.” (LA Times, 12/3/14)

But maybe Pitzer has been getting a bargain. The president of RPI makes $7.14 million and there are at least ten private university or college presidents who make over $1 million. (And we haven’t even gotten to public universities and their football coaches.)

Anyway, salaries for this kind of executive position range from $440,000 to $7 million. There is something screwy, er, interesting about this segment of the labor market, I think.

About the Huntington

And for those of you who haven’t heard of the Huntington, it’s well worth a visit. It has a world class library, world class art galleries, and downright otherworldly gardens all in one place.

You might not be excited by an original Gutenberg bible (or an original copy of Hobbes’s Leviathan). And art may not be your thing. But you can’t come away from the desert garden without feeling as though you have been to another planet.

Note: your author has an unusual affinity for succulents. Nonetheless, he is quite sure that anyone in their right mind would agree that the desert garden at the Huntington is truly awesome.

And GiveWell

Marissa mentioned GiveWell. This is an organization that evaluates charities and has the good sense to employ Rebecca, a recent graduate of Pomona College who took PPE 160 last year. Here is a short article about GiveWell and some charities that receive high rankings.

Apparently, sending $3,340 to the Against Malaria Foundation is enough to save a life. That buys how many minutes of a college president’s time? (Or a philosophy professor’s? Touché!)

This page was written by Michael Green for Freedom, Markets, and Well-being, PPE 160, Fall 2014. It was posted December 5, 2014 and updated December 9, 2014.
Freedom, Markets, and Well-being