Posts Tagged ‘pay’

Student-debt

Special mention

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wages_cartoon_12.05.2014

Special mention

14yDhx.AuSt.79 Clay Bennett editorial cartoon

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While a special compensation committee of the University of Kentucky Board of Trustees met Tuesday to discuss whether or not to increase President Eli Capilouto’s salary, which is currently $615,825, the Lexington Herald-Leader discovered that the UK president’s pay increased an average of 9.7 percent each year over the last decade, eclipsing the average annual tuition increase of 7.3 percent and far outpacing the average faculty and staff pay increase of 2.1 percent.

In 2012, analysts at the financial management firm Bain & Company wrote in a white paper for its clients about administrative spending in higher education,

Boards of trustees and presidents need to put their collective foot down on the growth of support and administrative costs. Those costs have grown faster than the cost of instruction across most campuses. In no other industry would overhead costs be allowed to grow at this rate—executives would lose their jobs.

As colleges and universities look to areas where they can make cuts and achieve efficiencies, they should start farthest from the core of teaching and research. Cut from the outside in, and build from the inside out.

The problem, of course, is that the presidents of colleges and universities are the ones benefiting from the increase in administrative spending.

Chart of the day

Posted: 24 September 2014 in Uncategorized
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According to a new study by Carl Van Horn, Cliff Zukin, and Allison Kopicki [pdf], for the John J. Heldrich Center for Workforce Development,

nearly 30 million people — say they were laid off from a job in the past five years. Nearly 4 in 10 of these laid-off workers say they searched for a job for more than seven months before finding another one; one in five workers laid off during the past five years never found another job (see Figure 1). Of those who found another job, one in four say it was a temporary position.

Moreover, laid-off workers who found another job seldom improved their financial situation: two-thirds say their new jobs either paid less than their previous one (46 percent) or paid the same (21 percent). It’s no surprise then that nearly half of the reemployed workers say their new job was a step down for them compared to what they were doing five years ago. Just a quarter say their new job was a step up and only a third say they are receiving higher pay.

Chart of the day

Posted: 21 August 2014 in Uncategorized
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student loans-per recipient

As evidence of the “coming student loan apocalypse,” Shahien Nasiripour provides data about the astounding growth in student loan debt. As you can see in the chart above, average federal student loan debt per borrower has risen more than 50 percent between 2007 (when it was $18,233) and 2014 (now $27,481).*

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That’s what students (and their families owe). By way of comparison, in terms of ability to pay, what’s happened to workers’ pay in the United States during that same period? Well, it’s only gone up (in nominal, not real, terms) 16 percent (from $702.40 in July 2007 to $843.50 July 2014).

In other words, students and their families’ ability to service their student loans is falling further and further behind the amount of debt their forced to take on in order to pay for their education.

Something has to give. . .

 

*Total federal student loans have grown even more: by an extraordinary 112.5 percent over that same period.

student loans-total

incarceration

Neil Irwin, Claire Cain Miller, and Margot Sanger-Katz have assembled a series of charts documenting America’s enduring—and, in many cases, growing—racial divide. I have reproduced some of them below.

One of the key pieces of information they don’t include has to do with incarceration rates. As you can see from the chart above (from the Pew Research Center [pdf]), African American men were 5 times more likely to be incarcerated in 1960 than white men (relative to the size of each demographic group)—a rate that grew to over 16.5 in 2010.

Here are the other charts:

joblessness

unemployment

higher education

workplace

pay

wealth

health

homicide

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Special mention

140408-equal-pay www.usnews