I’m writing this column to propose that the salary of President Christopher Eisgruber ’83 be lowered to $538,667, or precisely $1 above the 1 percent income line for New Jersey in 2012 . His current salary, according to Princeton’s 2013 financial report, is about $750,000, although it’s hard to tell exactly, as he’s not yet listed as President in that report. It’s likely more than that now, assuming Eisgruber’s salary follows the trend of President Emerita Shirley Tilghman’s salary, which climbed while she was in office.
If Eisgruber’s salary were lowered to $538,667, he would still make more than 99 percent of people in New Jersey. Moreover, given that the median per capita income in New Jersey is roughly $35,000, and assuming a working career of 50 years, it would still take him only three and a half years to make what the median New Jersey resident makes in a lifetime. It would, in other words, still be a heck of a lot of money.
Moreover, think of everything that could be done with that extra $200,000! Currently, for a middle-income family, the cost of raising a child from birth to age 18 is about $245,000. That means every year, the University could save just about enough money to give one newborn in Princeton a middle-income life, free of charge to their parents. Eisgruber could go to the parents and say, “On behalf of Princeton University, I now give your child a trust that will provide for them until they become an adult. You will no longer have to worry about putting clothes on their back, food on their plate, or books in their backpack. You are free to skip that extra night shift. You do not have to live in the worst section of town. Your child has been taken care of financially, so you can take care of them in all the other ways.” And Princeton University could do that every year!
Unfortunately, this salary decrease would also mean that Eisgruber’s salary is no longer commensurate with the salaries of other university presidents, especially presidents of universities with Princeton’s stature. The economists among us would predict dire things, like Eisgruber being poached by a university willing to offer him more money. However, I do not think this would happen.
You see, Eisgruber was chosen as Princeton’s president not only for his intelligence and wisdom, but for his excellent moral character. For a man like Eisgruber, being a university president is not a job, but a privilege, a chance to shape the experience and education of thousands. A man such as that cannot be swayed from a moral calling by decreasing his salary to merely $500,000, any more so than one could buy off the Pope.
So, I call upon Eisgruber to stand up and do what is right. I want him to say, “Princeton University, as your president, I have a duty to lead by example and to do what is right. I do not need a $750,000 salary. There are many less fortunate than me who could do far more with that money. That is why, starting today, I will donate $200,000 per year to those who need that money most.” Then, too, other Princeton staff could feel empowered to follow his lead, like David Dobkin, former Dean of the Faculty, who made $780,000 in 2013, or Jose Scheinkman, Professor of Economics, who made $770,000 in 2013. Maybe we could even encourage the directors at PRINCO to give up some of their multimillion dollar salaries, although they’re probably more attached to their money than people like Eisgruber.
When that happens, we will see a ripple effect. Across Princeton everyone will be inspired to put their money to work in the nation’s service, not just to buy food, alcohol or cell phones. Perhaps we’ll even rethink the morality of spending billions of dollars to build unnecessary huge new complexes, when there are people in need in our very town. When that happens, it will truly be a great day for Princeton.
Trevor Klee is a 2015 graduate of the University. He can be contacted at klevertree@gmail.com.
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