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So, Wellman isn't poor.

I wonder if Ron's bonus is tied to giving. I would imagine so. And if this is the case you can thank the fat cats in the tower for continually pumping money into the program to maintain their preferred status, affording Ron a nice bonus, and perpetuating mediocrity.

But let's not link Ron's deal with faculty salaries. One has nothing to do with the other.
 
Faculty scmfaculty, it costs nothing to live in Winston Salem. Wake will be plateau around 20 in the USNWR rankings unless we move campus to a major city then we'll be top 10.
 
DeaconSig said:
That is most likely some sort of deferred comp that came due in 1 year. He isn't making that every year.
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I don't think you can tell with 100% certainty from the 990, but this is probably right. The 990 shows $630,015 in the column for base salary and $1,767,306 in the column for "other" compensation (nothing for bonus or incentive comp, $24,000 for deferred comp and $20,769 for non-taxable benefits). There are a number of things that "other" comp can encompass, but the most common I have encountered is deferred comp in non-qualified plans that was earned in previous years, but became substantially vested in the year in question.
 
Of course Wellman isn't poor...how else could he afford all of the botox and self-tanning?
 
Caturdayredux said:
Faculty scmfaculty, it costs nothing to live in Winston Salem. Wake will be plateau around 20 in the USNWR rankings unless we move campus to a major city then we'll be top 10.
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Not really relevant. Half a dozen schools in the top 25 are not in major cities.
 
While it's clearly a problem that faculty salaries aren't where they should be, their arguments about athletics expenditures are intellectually lacking to the point it's embarrassing that a college professor at Wake Forest would even try to make it. Athletics is its own beast. It's funded by its own income and its own fundraising campaigns.

Now, is it fair to ask why the AD can do all of these fundraising campaigns for its needs and the University can't do one to fund faculty salaries? You bet. But that's not what was said.
 
Agreed. Faculty are generally poor at making relevant arguments like that.

Argue about the resources going to athletics fundraising vs. university development. Argue about the lack of return in athletics spending.
 
Kennedy pointed out that Wake Forest spends more money per-student on its athletic department that any other institution in the United States — at least $20 million annually, a figure that has risen much more steadily than faculty salaries and the rate of inflation.

“It’s a stunning figure — truly a very significant drain from faculty resources,” Kennedy said
 
TBR said:
Athletics pull from a different kitty than faculty salaries. Or at least they should. Athletic spending should have minimal effect on faculty salaries. One would have expected a professor to understand the difference between correlation and causation. Even if Wake does redistribute some "academic" dollars to the athletic program, this likely less the case now than ever.

Wellman is grossly overpaid though (although I don't think the $2M+ is "regular" compensation), and his salary does turn the LOWF nonsense on its head.
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This is true at private schools. At public schools - coaches for instance make 200-450K usually with the majority of their salary coming from "endorsements," agreements to half time/post game interviews, or general appearances. I know one of the ACC Fb coaches makes about 350K from the school (as listed on their tax forms) with the other 2.2MM coming from some of the aforementioned areas.
 
Am I the only one that thinks that making $140,000 a year to teach 2-3 classes a semester and have most summers off to work at one of the greatest places in the world is a gracious plenty. My kids' kindergarten and 2nd grade teachers work so much harder than many of my professors at Wake did. To be a college professor is the greatest job in the world. They get paid handsomely and don't have to put in the hours that many of the rest of us do.

I agree Ron Wellman was overpaid by about 2.4 million dollars in 2011. For the job he did flushing our athletic program down the crapper, he should be making no more than $40,000 per year. But the faculty at WFU (and Duke, UNC UVA, etc) are very well compensated and should quit their moaning and groaning.
 
MrBojangles said:
Am I the only one that thinks that making $140,000 a year to teach 2-3 classes a semester and have most summers off to work at one of the greatest places in the world is a gracious plenty. My kids' kindergarten and 2nd grade teachers work so much harder than many of my professors at Wake did. To be a college professor is the greatest job in the world. They get paid handsomely and don't have to put in the hours that many of the rest of us do.

I agree Ron Wellman was overpaid by about 2.4 million dollars in 2011. For the job he did flushing our athletic program down the crapper, he should be making no more than $40,000 per year. But the faculty at WFU (and Duke, UNC UVA, etc) are very well compensated and should quit their moaning and groaning.
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If you're at a pretty balanced (far as I remember) research/teaching school like WFU, you're expected to be writing, researching (running labs of grad students), publishing, bringing in grants etc. It's a lot more than just teaching a couple classes.
 
Caturdayredux said:
Faculty scmfaculty, it costs nothing to live in Winston Salem. Wake will be plateau around 20 in the USNWR rankings unless we move campus to a major city then we'll be top 10.
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I mean, its not like Wake Forest hasn't done it before.
 
MrBojangles said:
Am I the only one that thinks that making $140,000 a year to teach 2-3 classes a semester and have most summers off to work at one of the greatest places in the world is a gracious plenty. My kids' kindergarten and 2nd grade teachers work so much harder than many of my professors at Wake did. To be a college professor is the greatest job in the world. They get paid handsomely and don't have to put in the hours that many of the rest of us do.

I agree Ron Wellman was overpaid by about 2.4 million dollars in 2011. For the job he did flushing our athletic program down the crapper, he should be making no more than $40,000 per year. But the faculty at WFU (and Duke, UNC UVA, etc) are very well compensated and should quit their moaning and groaning.
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From that standpoint, you're right. But it's also very relevant where we are relative to other schools. It's embarrassing for a school of Wake's stature to lose faculty to schools like Richmond.
 
Kids are paying near $60K a year to go to Wake. Even if we're just talking about teaching, Wake's selling point is low student:faculty ratios and the opportunity to engage and work closely with faculty and be more than just a number. How much a cut of that $60K should faculty get? You've got junior faculty at Wake who teach 3-4 classes a semester, advise undergraduates and/or graduate students and perhaps student organizations, and serve on committees dealing with student issues, and probably don't get paid much more than the tuition and fees of one student. Faculty are serving high end clients who are paying a lot for their services.

To ipity's point, being a professor is a lot more than just teaching classes. If all you've done is attend a college, you really don't know the ins and outs of being a professor. I'm not going to claim it's hard labor, but it's much more than what you saw from the perspective of a student in classes. For example, Bojangles doesn't account for how much money faculty bring into the university through grantsmanship.

He doesn't account for the larger market for faculty and what it takes to be competitive in retaining faculty and bringing in top faculty at all levels. Bojangles and the author of that "study" don't account for the fact that the $140K number is heavily skewed by the top faculty at the med school, business school, and probably the law school for whom Wake is competing with the private sector for their services.
 
ph it will be a tough sell to convince people how hard it is to be a college professor coming from someone with enough time to have 28000+posts on this message board.
 
Cute dig, 1995.
 
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