According to a story in Friday’s New York Times, Harvard’s endowment money managers were paid enough last year, as one alumnus critic put it, “to send more than 4,000 students to Harvard for a year.” Harvard paid its money managers more than $100 million and laid off 10 library workers.
The article points out that Yale and Texas, other big endowment schools, paid their money managers substantially less and, in Yale’s case, with better results.