We are happy to announce our new Q & A column, Ask Alma! We invite you to post your questions about collective bargaining in higher education and other relevant for our esteemed expert, Alma.
A question for Alma from a CFA Facebook follower:
Is it true that the money for executive searches comes out of funds that support the Research Board and other programs?
Alma Replies: Yes, many are wondering where the Administration gets the money to pay
for Executive Searches and presumably, Law School investigations,
Troyer investigations, executive coaching and so on. Here’s part of
an answer from the Kane County Chronicle, May 7, 2102:
“The University of Illinois in Champaign-Urbana – the state’s largest
university […] – paid an executive search firm $150,000 to find a new
president in 2010, and another $150,000 on an in-house search
committee, said Tom Hardy, a university spokesman.
“Hardy said that $300,000 came from revenue generated through research
grants called “Indirect Cost Recovery funds,” not tax or tuition
dollars, and that searches for coaches are paid with money from
So, yes, it appears to be true: the money for executive searches comes
straight out of the funds that could otherwise go to support the Research Board and lots of
other important programs on campus.
Keep an eye on the Ask Alma page!