Value for Money

An article by Richard Vedder describes how the publication of data by Texas A and M University shows enormous variation in the cost of faculty members per student taught.

I recently asked my student research assistant to explore this data by choosing, more or less at random, 40 professors of the university's main campus at College Station — including one highly paid professor with a very modest teaching load in each department and one instructor who is modestly paid but teaches many students. The findings were startling, even for a veteran professor like myself.


The 20 high-paid professors made, on average, over $200,000 each, totaling a little over $5 million annually to the university. These professors collectively taught 125 students last year, or roughly $40,000 per student. Since a typical student takes about 10 courses a year, the average cost of educating a student exclusively with this group of professors would be about $400,000, excluding other costs beyond faculty salaries.

There are of course questions to be asked about whether the data included the supervision of dissertations and the difficulty of the courses taught. Even so, the results deserve close scrutiny and might even be a model for some sort of international comparison.