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Michchamp
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- Aug 4, 2011
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you can frame the situation a number of different ways, but the bottom line is, since the 1970's, income disparity has grown, more money goes to fewer people at the top, and wages for lower end jobs have stagnated or even decreased over that same time period.
there are lots of excuses for why is this justifiable, but they have almost always failed to stand up to critical analysis in my opinion.
I read this article on salary changes at UM from 1979 - 2013 in constant 2013 dollars. Not to pick on Michigan, but it's public so all these figures are available, and the author of the article has connections to the school (is an alumnus).
Custodian -5.3%
Director of Athletics 390.6% (DB is doing it for his love of Michigan...)
Professor (full) 55.6%
Dean of the Law School: 148.4%
Admin Assistant/Secretary -6.3%
President: 179.3%
CEO increase %'s destroy all of these, and far outstrips even corporate profits over the time period.
there are lots of excuses for why is this justifiable, but they have almost always failed to stand up to critical analysis in my opinion.
I read this article on salary changes at UM from 1979 - 2013 in constant 2013 dollars. Not to pick on Michigan, but it's public so all these figures are available, and the author of the article has connections to the school (is an alumnus).
Custodian
1979: $34,017
2013: $32,214
Director of Athletics
1979: $173,274
2013: $850,000 base salary (Does not include $100,000 in deferred compensation, and a possible $200,000 bonus).
Full Professor
1979: $107,493
2013: $167,260
Associate Professor
1979: $77,153
2013: $114,071
Assistant Professor
1979: $61,119
2013: $100,048
Dean of the Law School:
1979: $169,075
2013: $420,000
Administrative Assistant/Secretary
1979: $45,985
2013: $43,078
President:
1979: $216,000 salary (other compensation, if any, unknown, although it?s safe to assume use of the president?s house was included.)
2013: $603,357 base salary; $100,000 bonus in lieu of a raise; $100,000 additional annual retention bonus; $175,000 annual deferred compensation, $50,000 annual retirement pay, free use of residence and car.
a commentator put some of these changes into percentages:1979: $34,017
2013: $32,214
Director of Athletics
1979: $173,274
2013: $850,000 base salary (Does not include $100,000 in deferred compensation, and a possible $200,000 bonus).
Full Professor
1979: $107,493
2013: $167,260
Associate Professor
1979: $77,153
2013: $114,071
Assistant Professor
1979: $61,119
2013: $100,048
Dean of the Law School:
1979: $169,075
2013: $420,000
Administrative Assistant/Secretary
1979: $45,985
2013: $43,078
President:
1979: $216,000 salary (other compensation, if any, unknown, although it?s safe to assume use of the president?s house was included.)
2013: $603,357 base salary; $100,000 bonus in lieu of a raise; $100,000 additional annual retention bonus; $175,000 annual deferred compensation, $50,000 annual retirement pay, free use of residence and car.
Custodian -5.3%
Director of Athletics 390.6% (DB is doing it for his love of Michigan...)
Professor (full) 55.6%
Dean of the Law School: 148.4%
Admin Assistant/Secretary -6.3%
President: 179.3%
CEO increase %'s destroy all of these, and far outstrips even corporate profits over the time period.