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Tuition Rising, Chapter 8

Tuition Rising, Chapter 8 - -sensitivity of faculty...

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Chapter 8: Salaries - Cornell ranked 20 th at full professor, 14 th at asso, 9 th at asst - salaries vary by discipline; disciplinary composition of faculty varies across institutions - main idea: institutions w/ larger fractions of faculty in high-paying fields will appear to have higher average faculty salaries - Cornell has small business and medical schools - cost of living is also lower - most competitive at asst and asso ranks - greater percentage of asst professors employed in higher-paying management and law - Cornell competes most strenuously to attract new faculty and retain existing faculty in asst and asso ranks to “meet the market”
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Unformatted text preview: -sensitivity of faculty turnover to relative salaries is higher for asst profs than for asso profs and higher for asso profs than for full profs-full profs become “tied” to their communities with age; cost of moving themselves and their families increases substantially-main idea: reduced willingness of senior faculty to incur the monetary and psychological costs of moving to other institutions-main idea: presence of a nearby competitor reduces the ability of an institution to restrict senior faculty members’ salaries-deans can also respond with a salary adjustment for specific faculty member...
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