Good universities rely on good investments. From the maintenance of the parking garages to the large lump sums of money needed to build them, it all comes down to the judicious allocation of available funds.
So, when our current president, Harris Pastides, receives an annual raise of $100,000, we are confident USC is making a very worthwhile investment in its future.
While talk of multi-thousand dollar raises may seem ridiculous to some in a still-recovering economy, there are quantifiable and, in our opinion, justified reasons for this development.
First, and perhaps most importantly, all of the money gathered to make up the raise comes from various foundations, not student fees. The funds themselves are gathered from various foundations and, at the request of the Board of Trustees, have been sent Pastides’ way.
Second, the simple fact is that Pastides is a president worth investing in. Since his start in 2008, he not only brought USC through the brunt of the financial crisis under Focus Carolina, but also propelled the university into the top 15 most efficient state schools nationally.
Last year, he conferred with SC lawmakers to keep tuition prices at a stable level in an attempt to keep college affordable. While the state government failed to meet him at his word, his attempt shows that he has the interests of the students at heart.
And then there are the much improved GPA and SAT levels of incoming freshmen, an unprecedented raise in private donations and other notable achievements.
Third, a cursory glance at any data concerning how much public university presidents are paid will reveal that Pastides isn’t receiving nearly as much as his fellow university leaders around the country. His $503,800 annual fee makes him the 47th best-paid public university presidents (out of 60) in the nation.
Compare this sum to, say, the $4 million rolling in annually for USC’s head football coach Steve Spurrier.
For a president as economically capable and in-touch with student concerns as Pastides, USC is getting a bargain other schools would jump at the chance to get.
And considering his long tenure (he is the fourth longest serving president in the SEC), we feel that if anyone deserves a raise for years of consistent high-quality service, Pastides does.