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Trustees Grossly Overpaid Jim Kim Versus Other Ivy League Presidents
The only thing more embarrassing in business than being out-negotiated, is being out-negotiated by a doctor. How did Jim Kim merit, in just his first year as Dartmouth’s President, being paid more money than the presidents of Princeton, Harvard, Brown and Cornell — all of which are far larger schools than Dartmouth, and whose presidents had respectively been on the job for nine, three, nine and four years? Don’t forget that JYK was hardly a seasoned administrator with a long career in undergraduate education; he was just the opposite.
We’re not talkin’ chump change here neither. In 2010, Cornell (which has three and a half times as many students as Dartmouth) paid President David Skorton $230,803 less than Jim Kim. That’s enough money for the College to have hired a senior professor of the highest quality, or perhaps two up-and-coming junior profs.
Our Board is manifestly incompetent. Everywhere you look, they make bad decisions. In the case of Kim, they offered him a fat salary virtually at the same moment that the Dow Jones hit its nadir in the financial crisis (it dipped below 7,000 in early 2009; it is over 13,000 today) and when the value of the endowment was plummeting. All this money to a guy who had not the slightest experience in finance.
Perhaps for the Board’s billionaires, of whom there are several, a few hundred thousand dollars here and there amounts to a rounding error. They should adjust their perspective. The extra professors that could be hired, if the College were well managed, could profoundly influence the lives of students, and improve Dartmouth for everyone.
Addendum: What kind of salary will the Trustees offer President Hanlon? Will they ‘fess up to overpaying Kim and offer Hanlon a salary in line with the measure of his job — or will vain pride cost the College and its students a professor or two?
October 18, 2009
When Love Beckoned in 52nd Street
We were at San Francisco’s BIX last evening, enjoying prosecco, cheese, and a bit of music. A full year of inhabitation in Northern California has unraveled to me no decent venue for proper lounging, but…
October 9, 2009
D Afraid of a Little Competish
So our colleague and Dartblog writer Joe Asch informed me that the D has rejected our cunning advertising campaign. Uh-oh. The Dartmouth is widely known as a breeding ground for instant New York Times successes,…
September 4, 2009
How Regents Should Reign
As Dartmouth alumni proceed through the legal hoops necessary to defuse a Board-packing plan—which put in unhappy desuetude an historic 1891 Agreement between alumni and the College guaranteeing a half-democratically-elected Board of Trustees—it strikes one…
August 29, 2009
Election Reform Study Committee
If you are an alum of the College on the Hill, you may have received a number of e-mails of late beseeching your input for a new arm of the College’s Alumni Control Apparatus called…
August 23, 2009
Fare Thee Well, Tom Crady
And now Dean Tom Crady has precipitously announced his departure from the College after only 20 months on the job. How to read this? By way of background, prior to coming to Dartmouth, Crady had…
May 31, 2009
Kangaroo Court, Indeed
In an interview with The Dartmouth, alumni-elected trustee T.J. Rodgers ‘70 explained his reasons for declining to participate in future evaluations of trustees up for “re-election,” namely the “kangaroo court” nature of such discussion in…