Dive Brief:
- Education watchdogs say they are seeing more college leaders get big payouts when they step down, which critics say is a factor in driving up college costs.
- Dozens of college leaders make at least $1 million a year, the Boston Globe reports, and many continue to cash big university checks even after they leave that job and go on to another.
- Two examples of many: The former president of Tufts received $1.7 million in 2011 as he left the job, and at Harvard, Lawrence Summers was paid $580,000 for several years after he stepped down in 2006.
Dive Insight:
Many of the departed college leaders continue to do some work for the universities after they leave, so it's not as though they are getting the money for nothing. Still, with millions of dollars being pushed their way, is it so hard to believe they wouldn't do that work for, say, 20% or 30% less?
