Galbraith’s famous observation is also true of some university presidents. Like the guy who just left Brandeis after only five years.
[W]hile faculty were subject to caps on salary increases, Lawrence’s compensation soared from about $589,000 in 2010 to $878,572 in 2013, the last year for which data is publicly available.
You do wonder about people sometimes.
February 8th, 2015 at 7:02PM
Corporate raider Carl Icahn, I think, has offered up roughly similar thoughts on executive compensation. In a nutshell, don’t count on any necessary connection between performance and executive pay. (Backslappin’ good ol’ boys giving themselves raises for social reasons is the sense I recall.)