Who’s the Help?

Henry Blodget:

Ron Unz of the American Conservative posits that 375-year old Harvard University has grown so rich that it is now essentially a giant hedge fund with a little school attached.

The evidence:

Harvard’s endowment is now back over $30 billion.

To manage this endowment, Harvard employs a platoon of hedge fund managers who are paid like, well, hedge fund managers.

Just the top 5 of these hedge fund managers, Unz reports, recently took home $78 million in a single year.

That’s $16 million apiece.

Harvard’s full professors, meanwhile–all 450 of them–take home $85 million a year.

That’s $188,000 apiece.

Not much question about who’s “the help” in this arrangement.

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  • http://tarabethleach.wordpress.com Tara Beth

    I see what he’s saying. In terms of “fairness” it is definitely unfair. However, I am not a fan of saying a salary $188k is wages for “the help”. I wish he would call it something else. I would label the middle class/lower class students who are taking on massive student loans every year as “the help”.

  • EricMichaelSay

    Its sad to me the inequity off the values of various professions. I highly doubt that a Harvard professors tax forms read a mere 188k, but I think it is a shame that the speaking engagements etc that must happen by virtue of their position, which supplements their income, takes them away from paying students. The POTUS and evangelical superstars also come to mind…