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October 8, 2018 at 7:47 am

Star Tribune Quotes Vedder on University of Minnesota Presidential Pay

Dr. Richard Vedder, portrait

Dr. Richard Vedder

The Minneapolis Star Tribune quoted Dr. Richard Vedder, Distinguished Professor Emeritus of Economics at Ohio University, in an article headlined “Can the University of Minnesota get a new president for a bargain?

Vedder and Rita Bornstein, president emeritus of Rollins College in Florida and an author of several books on higher education leadership, point to corporate America’s own runaway pay packages and to more corporate executives serving on university governing boards. Search consultants have played a part, too. But, they agree, at the end of the day, it’s a tight market for highly demanding jobs.

Vedder said the U could try recruiting a public university provost or dean — someone likely earning in the $300,000 to $400,000 range — and offer a modest raise along with a much higher-profile position.

But at the end of the day, he said, given the high stakes of the job at a challenging time for higher education, “Do you really want to endanger your pool of candidates over 300,000 bucks? My guess is when the smoke clears, they’ll end up paying at least what they are paying now.”

Read more in the Star Tribune.

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