How can Harvard justify endowment managers’ pay?
Every day, I read the papers looking for some gleeful and uplifting news to help me get through the ennui of my daily existence. Well, such articles are usually few and far between. Usually the papers are filled with stories of murder and mayhem, abuse and annihilation, carnage and chaos.
While sifting through the May 15 News, an article in the business section attracted my attention. It was titled, “Harvard managers’ pay aired.”
As I read the brief article, I became more and more incensed with every syllable. Imagine if you were an endowment manager for Harvard University and somehow had to struggle with your average yearly income of a mere $8 million, plus change. And that was for 2013. Oh, did I mention that the number was a 50 percent increase from 2012? Are you kidding me?
How any human being could possibly be paid such an outlandish sum to distribute money to others in need is beyond my, and it should be beyond your, comprehension. Just imagine what their income will be for 2015. As Buzz Lightyear once said, “to infinity and beyond.”