FORDHAM PROFESSORS MAKE LESS MONEY THAN YOU MIGHT THINK
Many professors here can barely make ends meet, particularly assistant professors just starting out, faculty who are single parents, or those who are their family’s sole wage earner.
Fordham loses faculty members all the time to other institutions that pay more, and often has trouble attracting job candidates on what we pay. Most of the universities in New York City offer higher wages.
Fordham says it pays at the 80 percentile for American universities. But there are some issues with the administration’s figures. First of all, Fordham lards its statistics on faculty salaries by including a few very high paid faculty who pull up the average. Most Fordham faculty members, in fact, earn far less than the 80th percentile.
Fordham salaries barely keep up with inflation. Faculty are finding their purchasing power parity is actually dropping over time, not rising.
The 1.5% across-the-board salary increase faculty received in 2016-17 is far less than inflation has been so far in 2017.
If the administration succeeds in shifting the cost of health care benefits to faculty by going to a plan with much higher co-pays, deductibles, and out-of-pocket maximums, then net faculty salaries will take a huge hit. Some faculty may be faced with up to $10,000 in additional health care costs per year should the new health care plan be forced on them.
Non-unionized Fordham staff would suffer the same financial harm as the faculty from the move to a lower value health care plan, and many of them earn even less than we do.
Fordham’s proposed health benefits changes will ensure that the most vulnerable faculty and staff — those with chronic or emergent medical costs, with sick family members or kids with disabilities, and especially those who are already the most poorly paid—will pay a much higher percentage of their take home pay for medical costs.