Rutgers’ Pat Hobbs, Steve Pikiell, Greg Schiano, C. Vivian Stringer take pay cuts amid coronavirus

[Tango Two]

Rutgers’ athletics director and its three highest-paid coaches will take 10% pay reductions over the next four months as the university struggles with the economic impact of COVID-19 and an anticipated $200 million shortfall for the 2020 fiscal year.


https://www.nj.com/rutgersfootball/...-take-pay-cuts-amid-coronavirus-pandemic.html

 

[RUfromSoCal?]

Card carrying Rutgers1000 members asking to join in?

 

[Extra Point]

The liberal professors are probably very happy to have some of their income taken away to help others.

 

[RUSK97]

These highest-paid state employees are volunteering to take a pay cut for the greater good. Instead of lauding their sacrifice, we’re taking pot shots at the faculty. Nice.

Also taking paycuts: President, Chancellors, Executive VPs.

 

[RUfromSoCal?]

These highest-paid state employees are volunteering to take a pay cut for the greater good. Instead of lauding their sacrifice, we’re taking pot shots at the faculty. Nice.

Also taking paycuts: President, Chancellors, Executive VPs.

no, just those that are high and mighty

 

[Plum Street]

I hope some our better players don’t have to take pay cuts too

 

[tomatocan]

The liberal professors are probably very happy to have some of their income taken away to help others.

The "liberal professors"?? So you're implying your Rutgers education was poisoned by flaming liberals? (Assuming you studied at Rutgers). Good grief.

 

[REDRICH65]

Oh yeah Rutgers isn’t a liberal school. Kids just threw a fit when Condi Rice was asked to speak at graduation but laid a path of palms and roses when Prez Obama came.

 

[KeithK7624]

Really curious on the $200m shortfall. Didn’t students still pay tuition? Fuel, part time salaries, food, electricity, etc the spendshave drastically been reduced?

 

[jtung230]

Oh yeah Rutgers isn’t a liberal school. Kids just threw a fit when Condi Rice was asked to speak at graduation but laid a path of palms and roses when Prez Obama came.

IIRC, they protested because of the Iraq War. Trump also said he was against that war. Does that mean Trump is a liberal too?

 

[Scarlet_Scourge]

Really curious on the $200m shortfall. Didn’t students still pay tuition? Fuel, part time salaries, food, electricity, etc the spendshave drastically been reduced?

State aid stop during this plus all the money they had to give back for Housing.

This is going to be really bad. Sports will get cut and massive layoffs could be coming if Rutgers doesn't get relief from the State and/or Federal.

 

[Salvi's Headband]

Reading between the lines, with the major announcement today about hiring freeze, spending freeze, construction freeze, etc....Rutgers is in deep doo-doo with fall enrollment.

 

[jtung230]

Reading between the lines, with the major announcement today about hiring freeze, spending freeze, construction freeze, etc....Rutgers is in deep doo-doo with fall enrollment.

Not just Rutgers

 

[Scarlet_Scourge]

Reading between the lines, with the major announcement today about hiring freeze, spending freeze, construction freeze, etc....Rutgers is in deep doo-doo with fall enrollment.

If Rutgers doesn't open in the Fall and Football is cancelled, then things are get REALLY BAD, basically i will not be shocked if half of the sports get cut and many people lose their jobs and we see lots of furloughs.

I am really hoping that NJ can get to Phase 1 by June. We better all hope that happens.

 

[fischy5000]

These highest-paid state employees are volunteering to take a pay cut for the greater good. Instead of lauding their sacrifice, we’re taking pot shots at the faculty. Nice.

Also taking paycuts: President, Chancellors, Executive VPs.

i dont see anywhere that its "volunteering." Is that written in a diff article somewhere? You make it seem like they all got together to help out as opposed to the instructed budget cut and it worked out to cut the sr leadership with most likely not having a say in the matter.

Yes its helpful that the $ is being pulled from their salaries vs low/lower paid staff...just not so sure if it's praise-worthy as if they did something like pay for meals, etc like some of the athletes have done.

 

[jtung230]

I think this is related to the possibility of round 2. Some talk of a W shape recovery because of round 2.

 

[MoobyCow]

Really curious on the $200m shortfall. Didn’t students still pay tuition? Fuel, part time salaries, food, electricity, etc the spendshave drastically been reduced?

State aid is likely going away this year (WSJ, paywall).

More on RU:
https://www.msn.com/en-us/news/us/c...venue-due-to-pandemic-barchi-says/ar-BB12lbrH

 

[FELONIOUSMONK]

I was offered 2 jobs in the Phoenix area right as this critter was taking over. Those jobs may never happen now. Am I pissed? Of course I am. Am I accepting the fact that my timing sucks as well as millions of us around the country and the world? Yes indeed. It's our job now to get through this and pray that everyone else does as well. And that goes for my arch enemies Cali Moose Skinny Northern Bac Tango and the rest. See? Snowflakes can love our circle jerking buddies ..

 

[koleszar]

State aid stop during this plus all the money they had to give back for Housing.

This is going to be really bad. Sports will get cut and massive layoffs could be coming if Rutgers doesn't get relief from the State and/or Federal.

Exactly what is the $1.083 billion endowment for? Probably now around $900 million but still does this just sit idle in perpetuity or is it used in cases of crisis? Because wouldn't this be considered a crisis and if not used now then when?

 

[anon_ivydyf0amkzay]

I hope some our better players don’t have to take pay cuts too

If we’ve been paying some players then we’ve been doing it REALLY wrong!

 

[Scarlet_Scourge]

Exactly what is the $1.083 billion endowment for? Probably now around $900 million but still does this just sit idle in perpetuity or is it used in cases of crisis? Because wouldn't this be considered a crisis and if not used now then when?

They will use some of it but once that money is gone it doesn't get repaid. Many projects for be cut forever.

 

[Plum Street]

If we’ve been paying some players then we’ve been doing it REALLY wrong!

Ha true . Basketball was well spent finally though !

 

[MCY]

Reading between the lines, with the major announcement today about hiring freeze, spending freeze, construction freeze, etc....Rutgers is in deep doo-doo with fall enrollment.

I'm not sure enrollment will suffer, if anything enrollment could soar if RU were willing to take even more students via the on-line route than traditional classroom. One of RU's main constraints isn't the number of quality applicants - it's space. As I see it, more than ever quality applicants will (a) want to stay closer to home, and (b) be "forced" to go to RU (tongue in cheek) for financial reasons.

 

[Salvi's Headband]

I'm not sure enrollment will suffer, if anything enrollment could soar if RU were willing to take even more students via the on-line route than traditional classroom. One of RU's main constraints isn't the number of quality applicants - it's space. As I see it, more than ever quality applicants will (a) want to stay closer to home, and (b) be "forced" to go to RU (tongue in cheek) for financial reasons.

Possible, but I think those kinds of benefits will float further down the hierarchy. If it's all online and you're taking gen eds, why not just pay $150 a credit at Community College.

 

[WhiteBus]

The liberal professors are probably very happy to have some of their income taken away to help others.

Are you high??

 

[ElmiraExpress]

Oh yeah Rutgers isn’t a liberal school. Kids just threw a fit when Condi Rice was asked to speak at graduation but laid a path of palms and roses when Prez Obama came.

Obama is a liberal now? Why didn’t he act like one in 8 years as President?

 

[hoquat63]

Exactly what is the $1.083 billion endowment for? Probably now around $900 million but still does this just sit idle in perpetuity or is it used in cases of crisis? Because wouldn't this be considered a crisis and if not used now then when?

Much of it may have been restricted by donor. For example I could give a million $$ with the stipulation that the income be used for a certain purpose but the principle could not be touched.
One wired case I remember, our head accountant used to make an annual pilgrimage to a donors grave because of a stipulation in the bequest.

 

[ElmiraExpress]

Exactly what is the $1.083 billion endowment for? Probably now around $900 million but still does this just sit idle in perpetuity or is it used in cases of crisis? Because wouldn't this be considered a crisis and if not used now then when?

endowments should NEVER be spent, that is the whole point. The endowment builds and the earnings from the endowment are used to support the university. Rutgers endowment is already very low compared to its peers. Hopefully, they will not need to use it.

 

[JMORC2003]

Can someone explain to me why things are being permanently shut down, sports cut, people fired, etc when this is a temporary event. Yes, the impacts are substantial, but we are already talking about when and how things come back, so to permanently cut entire sports programs, shutter businesses and companies, lay people off just doesn’t make sense to me.
I’m fortunate to work for a big company, and yes we have been impacted and as a result have had budgets cut, but that is just a temporary measure until we get through it.

 

[koleszar]

endowments should NEVER be spent, that is the whole point. The endowment builds and the earnings from the endowment are used to support the university. Rutgers endowment is already very low compared to its peers. Hopefully, they will not need to use it.

Ah so fire people and close up some of the shop is the answer, but let's not dare touch the endowment? For some reason in a time of crisis that line of thinking just doesn't add up.

 

[KeithK7624]

Exactly what is the $1.083 billion endowment for? Probably now around $900 million but still does this just sit idle in perpetuity or is it used in cases of crisis? Because wouldn't this be considered a crisis and if not used now then when?

I’ve always wondered this too.

 

[KeithK7624]

Can someone explain to me why things are being permanently shut down, sports cut, people fired, etc when this is a temporary event. Yes, the impacts are substantial, but we are already talking about when and how things come back, so to permanently cut entire sports programs, shutter businesses and companies, lay people off just doesn’t make sense to me.
I’m fortunate to work for a big company, and yes we have been impacted and as a result have had budgets cut, but that is just a temporary measure until we get through it.

It’s kind of shitty. The company I work for had a a record March / April. But our CEO has made cuts. To me it’s a way for companies to line their pockets while using this as an excuse.

 

[GoodOl'Rutgers]

Oh yeah Rutgers isn’t a liberal school. Kids just threw a fit when Condi Rice was asked to speak at graduation but laid a path of palms and roses when Prez Obama came.

SOME Profs threw a fit and used their students... instead of telling students that they should be willing to listen to anyone.

EDIT: ElmiraExpress below is correct.. it was, as usual, a tiny vocal contingent.

 

[ElmiraExpress]

Profs threw a fit and used their students... instead of telling students that they should be willing to listen to anyone.

most of the Rutgers professors in engineering, sciences, math, computer science, etc. had too much work do, and wouldn’t have time “to throw a fit” even if they were against it.

 

[fg7321]

I'm not sure enrollment will suffer, if anything enrollment could soar if RU were willing to take even more students via the on-line route than traditional classroom. One of RU's main constraints isn't the number of quality applicants - it's space. As I see it, more than ever quality applicants will (a) want to stay closer to home, and (b) be "forced" to go to RU (tongue in cheek) for financial reasons.

I agree once things get back to the new normal parents will want their kids closer to home and Rutgers in state tuition will be a big benefit to parents paying vs sendin kids to PSU or Del or MD etc.

 

[Extra Point]

The "liberal professors"?? So you're implying your Rutgers education was poisoned by flaming liberals? (Assuming you studied at Rutgers). Good grief.

The education is not poisoned, it is among the top in the world. But the professors are liberals.

 

[anon_ivydyf0amkzay]

most of the Rutgers professors in engineering, sciences, math, computer science, etc. had too much work do, and wouldn’t have time “to throw a fit” even if they were against it.

The real brain/academic power of the university...

 

[hoquat63]

Just to follow up my my previous post: RU endowment about 1.33 billion per University website. Of that amount, 60% is permanently restricted by the donor. 43% is restricted for scholarships and fellowships. So for example if I donate money specifically to have income used for a scholarship for a left handed Lithuanian engineering student only the income on the principle can only be used for that purpose

 

[Scarlet Jerry]

The general rule is that you should never touch your endowment. Even the wealthiest private universities don't do this. I had a friend who worked at Yale during the economic downturn, and they had cuts in his department. I asked him about filling in the budget gap with their large endowment, and he said that they would never do that.

I'm not sure how the shutdown will affect Rutgers over the long term. On one hand, more students. who would normally go away to other state universities (and even overpriced small liberal arts colleges) will probably want to stay closer to home. {Last year, before any of this happened, Bucknell missed its admissions target number. I would be worried if I worked at a small, expensive college, unless it's a very elite school like Williams.} On the other hand, we have enrolled many international students, primarily in the sciences and engineering. I could see some enrollment hits there.

The university needs to do a comprehensive review of expenses and income during times like this. We can't afford to sponsor every possible major under the sun, and certain low enrollment programs and some extracurricular programs may have to be cut. If research is slowing down, or grad programs are suffering from low enrollment, professors will likely have to take on a larger number of classes. It will be interesting to see what happens to higher education as a result of this crisis.

Scarlet Jerry

 

[RUScrew85]

Rutgers’ athletics director and its three highest-paid coaches will take 10% pay reductions over the next four months as the university struggles with the economic impact of COVID-19 and an anticipated $200 million shortfall for the 2020 fiscal year.


https://www.nj.com/rutgersfootball/...-take-pay-cuts-amid-coronavirus-pandemic.html

Any of the "Academic" staff chipping in?