by R. Asmerom
The Daily Beast released a slideshow of the salaries and compensations of over 30 university presidents across the nation and for many, the $1.16 million compensation of Walter D. Broadnax especially stood out considering Clark Atlanta is one of the smaller schools and that Presidents at other large institutions were paid less or near that amount. Broadnax received the payment in 2008, his last year on the job.
According to the Chronicle of Higher Eduction, “Mr. Broadnax left Clark Atlanta in 2008 amid controversy regarding his ability to lead the financially struggling institution. He received a vote of no confidence from the Faculty Assembly before retiring.”
CEOs and business leaders are often getting criticized for their large salaries amid layoffs and cutbacks during the recession. But is all the criticism necessary? The fact of the matter is that Broadnax did not embezzle this money – it was decided by the school itself to pay him this money. Although Broadnax wasn’t able to meet the goals set forth by the ailing University when he failed to resolve the financial challenges he inherited, what if he did, in fact, turn things around?
Richard Laermer, a media writer for the Huffington Post and author of 2011: Trendspotting believes that the scrutiny has less to do with the facts and more to do with the power of the media.
“The firestorm over the University president’s pay has to do with a slow news month and something that I’ve noted of late: a real notice of something that seems excessive after it has been reported on,” he said. “The mosque situation in NY is one– deal was made a year earlier but only after it got written up grandly did a fuss get made. That’s what is happening here.”
The trustees or the business managers of the University should be accountable, not Broadnax. If this is the kind of compensation package they decided was necessary to lure a competent President, then we’d have to trust that they did their research or that they didn’t know what they were doing at all. In any case, in the case of economics, there is usually a reason for these payouts and salaries – it’s not just all about pure greed.
