Word: paychecks
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...rapidly expanding professorial paycheck is a major source of school deficits. Staff salaries account for about 50% of total expenses at a large university like Yale, and across the nation, professors are getting raises of 7% a year. In 1950, the national average for all college-level teachers was $5,310; today it is $11,265. Harvard, which paid its top professors no more than $12,000 in 1947, will offer $28,000 next year; its 548 full professors average $20,000. And teachers take it for granted that the average will go even higher. "The senior faculty members expect...
...depend unwhole-somely on that one boss, on that next efficiency report, or on defending the status quo of that one department or agency. You can quit tomorrow if you want or need to, with a place to go, without being deterred by worry about where your next paycheck or your next opportunity is going to come from. This mobility, this additional career option, then, protects your integrity, allows you to keep your cussedness, alleviates the necessity of compromising on an issue of principle. You are more independent...
...Viet Nam veteran stationed at the Army's main pilot-training center, Fort Rucker, I am one of those Army chopper jockeys feeling the "pilot pinch" [April 14] -in the paycheck. The Army can afford up to $245-a-month hazardous-duty pay for commissioned officers, but the maximum it can muster for its growing corps of warrant-officer pilots is $165 a month. My present hazardous-duty pay as a chief warrant is a whopping $115, compared with the $180 a captain with equal time in service would draw flying the same aircraft on the same mission with...
Ever since the Federal Government adopted Financier Beardsley Ruml's ingenious invention of tax withholding back in 1943, the system has been about as unassailable as motherhood. Government officials love it, since paycheck deductions help disguise the size of the tax collector's take. Most taxpayers also approve of withholding as a relatively painless way of parting with their pelf. Only a non-politician of rare courage or naiveté-or both-would dare challenge it. Sure enough, a non-politician par excellence, California's Governor Ronald Reagan, did precisely that last week as he marked...
Delight & Risk. No man in the land gets a higher paycheck than the middle-ager. The average age for incomes of $10,000 to $15,000 is 47, for incomes of $15,000 and up, 51. This makes delayed pleasures possible. A man may have been sports-car minded for years, but when he climbs behind the wheel of a Mustang, his average age is 48. With no small children underfoot, husbands and wives discover the pleasures of each other's company, share convention trips, take that second honeymoon to Europe...