From Robert Whitcomb's "Digital Diary,'' in GoLocal24.com:
Wages certainly aren’t lagging for company and “nonprofit’’ organizations’ executives as more and more of the country’s wealth goes to a sliver of people at the top, in a winner-take-all economy that eschews sharing with lower-level but essential employees.
Consider The Boston Globe’s Aug. 1 story “Some charter school leaders’ pay far outpaces their public rivals’’. See: https://www.bostonglobe.com/metro/2017/08/01/some-boston-charter-school-leaders-paid-hefty-salaries/fbHDOC33WKmzcvvZaNNkLN/story.html
The Globe discovered that the “median pay package for the top leadersof the 16 charter schools in Boston was $170,00 last year.’’ Some Rhode Islanders might remember the former Providence school Supt. Diana Lam. As the boss of Conservatory Lab, she got a $275,000 in salary and $23,000 more for unused personal time off in 2016.
That was more than Boston School Supt. Tommy Chang’s totalcompensation of$272,000 in 2016.
These just-before-retirement pay packages are used as the basis for maximizing the departing executives’ pensions, which approach $200,000 a year.
Remember these charter schools are public institutions.
Over the years of looking at executive-suite compensation I’ve there’s often remarkably little connection between execs’ pay and the success of their organizations, in the public or private sectors. They mostly get these pay packages because the boards authorizing them are composed of very affluent people made uncomfortable by the idea that these execs should be paid at rates commensurate with common sense and reality. Hey! We’re rich and so you should be too! Meanwhile, lower-level employees often see their pay and benefits slashed.
(If Hollywood, publishing houses, basketball teams, etc., want to pay their stars millions for bringing in these organizations’ revenue, that’s perfectly fair. Clear talent.)_
U.S. Education Secretary Best DeVos, wallowing like much of the Trump regime in economic conflicts of interest, wants to dramatically increase the number of charter schools. If that happens, let’s hope that more attention is paid to their executive salaries.
