Laketravis
Well-Known Member
Ah, that makes sense. I read "$1 Million" and "Multimillion" and assumed it was in reference to less than $10M.
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Disney CMs and UPS Workers have won a lawsuit against the Union!
- Thread starter IanDLBZF
- Start date
Ah, that makes sense. I read "$1 Million" and "Multimillion" and assumed it was in reference to less than $10M.
Yeah,
My department in total is probably over $10 million, but we have people who specifically handle the majority of our post-award sponsored work (I handle a bit of that, but not as much as others). As @LAKid53 has said, private management of $50 million+ would be and is a lot less complicated than management of state appropriated public funds. In honestly, that portion of my position is probably close to $4-$5 million alone (roughly). We are also a medium sized department at my employer, one who is 60% soft or "self" funded through research funding. There are a lot of my counterparts on campus that make exactly what I make, and manage a portfolio the size you mention. Trust me, we'd double our salary, even if we did this in a private firm handling small asset management of less than $10 million.
Laketravis
Well-Known Member
Why is that?
Management of publicly appropriated funds are mostly governed by an extremely complex set of rules and regulations. On top of that, procurement with publicly appropriated funds are governed by an even more complex set of rules and regulations.
Those regulations double once federal money becomes involved. Yes, wealth management has rules, and regulations (and I'm sure there are many requirements that come from the government), but unless you've actually worked with government finance, people don't realize how complicated those jobs really are.
You took the words right out of my mouth. While the CFR has general regulations, each agency has its own on top of that. And different programs within an agency have their own set. I'm thinking about DOE in particular. The state may prohibit certain expenditures, but a federal or private grant allows them. I've been down that road many times. Like I said, handling a $50 million portfolio is simple when compared to grants and the myriad of regulations.
And the new FAR regulations on academic institutions (even if state-owned/funded) aren't helping anything.
DABIGCHEEZ
Well-Known Member
Somebody help me here...
How is this my union job is better than your non-union job argument... WDW Park news?
How is this my union job is better than your non-union job argument... WDW Park news?
matt9112
Well-Known Member
Inheriently there shouldn't be a union in this case. As nothing is really won for the employee. Even up north there are weak unions that have very little to show for. (Grocery stores)
Hard work and some common sense gets you places. Not back room deals giving you this or that.
matt9112
Well-Known Member
Been the easy job steelers in my opinion. (I'm in a trade non union) you guys hang a rat in a truck and thats that.
I'm a college educated professional white collar worker, not blue collar. Unions have their place. Collective bargaining is important. I find it interesting that you, as a tradesman, consider unions to be "job stealers" and "hang a rack on a truck and that's that"....
My grandfather worked on the railroads and was union. That union ensured that when he was forced to retire in his early 50s due to health related disability and died a few years later, my grandmother wasn't left dependent solely on what little social security she could collect. Unions have, through collective bargaining, ensured the widows and children of law enforcement officers killed In the line of duty received their spouse's full pension so they weren't financially struggling.
matt9112
Well-Known Member
That's the purpose of individual financial planning. 401ks and IRAs as well as life insurance and disability. All of these things can be acquired and are offered by most employers even the worst of them.
I dropped out of high school to do what I do now and haven't looked back. Had a few chances to join the union (sheet metal) than (pipe fitters) and I declined both offers. I have worked hard for every thing I have and was able to buy a house at 26 because ironically dropping out of school was the best thing that ever happend to me. But I got to see the bully tactics in Boston that unions use far too often. When laws are created to protect unions because otherwise they couldn't compete there's a problem. (Prevalent wage laws) as well as work force % laws.