Contributors
jonathan woahn
david blake
Slow Death of Tenure
Tenure is financially unsustainable and intellectually indefensible. The fundamental problem is liquidity – both financial and intellectual.
If you take the current average salary of an associate professor and assume this tenured faculty member remains an associate professor for five years and then becomes a full professor for 30 years, the total cost of salary and benefits alone is $12,198,578 at a private institution and $9,992,888 at a public institution. To fund these expenses would require a current endowment of $3,959,743 and $3,524,426 respectively and $28,721,197 and $23,583,423 at the end of the person’s career. Tenure decisions render illiquid a significant percentage of endowments at the precise moment more flexibility is required.
Capital is not only financial but is also intellectual and here too liquidity is an issue. In today’s fast changing world, it is impossible to know whether a person’s research is going to be relevant in five years let alone 35 years.
via NYTimes
There are several other great arguments, both for and against, in the NYTime's "Room for Debate" piece. Worth a read.
