Alexander C. Yaffe, president and CEO of Yaffe & Company, was quoted in a recent Washington Post article regarding the correlation between college leaders’ salaries and rising tuition costs, which is a topic frequently addressed by Donald Trump.
Mr. Trump noted, “You look at the salaries paid to the heads of colleges, it’s like they’re running a business — a real business, a big business…and we have to stop, we have to stop that from happening.”
“I don’t believe that presidential salaries in not-for-profit higher education are what is driving our cost issues,” said Mr. Yaffe. “Even though it’s a non-for-profit organized for the purpose of education, there still needs to be management principles, to operate profitably, build their endowment, invest for the future .. there is a degree of business acumen that is needed to make them sustainable.”
Read the article in its entirety here.