David: Your suggestion below that Williams fix the salary of an assistant professor to national norms of $50,000 and then cap full professors at twice that is highly problematic. Williams will always have to compensate its professors much more due to its location in the middle of nowhere. Jobs in cities that have vibrant intellectual and cultural communities, where the weather is warm, or where the local population is more diverse will all offer potential candidates reasons to shy away from Williams. In order to compete with Harvard or Duke and a dozen or so other schools that are intellectually as strong as Williams, we have to show candidates the money.

The President of the United States gets $400,000 a year plus some pretty nice perks (the White House, Air Force One, interns), incidentally.

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