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...proposal for a faculty retirement package surfaced as a possible cost-saving measure in the spring, when FAS learned that it faced a daunting $110 million deficit. In February, the University had opened an early retirement incentive program for staff members, 531 of whom ultimately took the package...
...previous interviews, Smith himself has framed the faculty retirement packages, which were in progress as early as this spring, as part of budget-saving effort aimed at resurrecting the Faculty from a financial deficit that yawned as wide as $220 million in April (the figure has since been cut in half, Smith announced this fall). If any of the 127 faculty members who were offered the package chose to accept it, the plan would open up positions that would only be filled again on a case-by-case basis...
Harvard professors are currently the highest paid in the country, according to a recent report by the American Association of University Professors, with an average salary of $192,600 per year. In the 2009 fiscal year, FAS spent $147.8 million on all faculty salaries, according to the Dean’s Annual Report...
During his five-year tenure, Light oversaw the completion of a $600 million capital campaign, the complete renovation of the school’s Baker Library, and the introduction of the 2+2 Program, which allows rising seniors to apply and, if accepted, work for two years after graduation before matriculating...
While it is admirable that HLS has moved to increase its allocation of financial aid by $2.7 million, this does not serve the same purpose of helping those who need it most. Students from low-income backgrounds who go into corporate law after graduation will no longer be low-income students when they are paying back their loans. Monetary resources should be directed toward those who will actually have difficulty with loan repayment, and that will be students in lower-paying public sector jobs...