Word: compensationitis
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Strauss, who is planning to send Summers another letter in response to yesterday’s compensation numbers release, said he was not satisfied with the University’s reply.
The HMC’s compensation system has been criticized by alumni, who say the group’s earnings policy is too generous.
“Back in the ’90s, there was concern when someone reached one million,” said William Strauss ’69, one of seven members of the Class of 1969 who sent a letter to University President Lawrence H. Summers in November protesting...
Jeffrey Alexander ’69, who also signed the note to Summers, said he has received many letters from concerned alums who heard about the compensation numbers.
“The reason our compensation package receives so much publicity is because we manage in-house and have to report our compensation numbers,” he said. “Other universities pay more [to their external fund managers]. We know what the pay scale is.?...