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The Cost of Ivy League Living

MIT Living Wage Logo.jpgThe other day in penning thoughts on how to determine fair wages — but not much more than fair — for the Dartmouth staff (so that we can fund education at the College), we looked at the MIT Living Wage Calculator (LWC). This method determines a fair basic wage for low-earners in various locales. As MIT writes: “The living wage varies based on the cost of living and taxes where families live.”

Though we have already looked a the cost of living in the eight Ivy League locations using data from the The Council for Community and Economic Research, the information provided by the LWC seems more precise from the point of view of the College’s thousands of relatively low-skilled employees. The results of this analysis support Dartblog’s long-held contention that Grafton County is a very reasonable place in which to do business. Here are the LWC’s recommendations for a single-person’s Living Wage for all the counties in which Ivy League schools are located:

MIT Living Wage 1.jpg

Note: I used the county figures, rather than town/city figures on the assumption that most employees would commute to their jobs at institutions of higher learning; they would not live in the towns where they work. Had I used the town figure, the living wage would have been higher by only $.01/hour in Hanover, and the same or even higher in some of the other Ivy towns.

Look at the relative cost of living in percentage terms:

MIT Living Wage 2.jpg

As always, let’s recall that the College has the second most expensive cost of education in the Ivy League, even though we have the fourth highest endowment per student (after HYP), and we work in a relatively inexpensive locale. If we weren’t squandering hundreds of millions of dollars each year on a bloated, overpaid staff, we could both improve the quality of a Dartmouth education and cut tuition to the bone.

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