Harvard Endowment Pay Practices Come Under Fire by Alumni
- Compensation lacks ‘a plausible relationship to performance’
- Pay is inflated by IRS rules, according to Harvard Management
This article is for subscribers only.
Harvard University is paying top executives overseeing its $39 billion endowment too much even after they began overhauling operations and cutting jobs in a push to improve results, according to a group of alumni who are persistent critics of pay at the Ivy League school.
“The last two years’ data confirm that compensation still seems to lack a plausible relationship to performance,” the group of nine alumni, known as the Class of 1969 Ad Hoc Committee on Harvard’s Endowment Management, wrote on Wednesday in a letter to President Lawrence Bacow.