Spring Break
Drexel continuing to hire new faculty members
Naomi Parikh
Issue date: 3/13/09 Section: News
Drexel University has not entered a hiring freeze despite the current economy and can therefore choose from a wider selection of teachers than before.
According to Interim Provost Mark Greenberg, Drexel does not rely on its endowment for daily activities, which has allowed the school to slow hiring, not stop completely.
"In a good year, about 3 to 5 percent of a university's endowment will be used in the budget for that year," Greenberg said. "Drexel only uses 3 percent of its endowment and has continued that despite the economy."
Greenberg said other wealthier schools, such as Harvard and Yale, began increasing the 3 to 5 percent of their endowment money used in their budgets until almost half of the money in the budget came from the endowment.
"A large amount of that endowment money was now going towards maintenance and teacher salaries, so they had to start cutting down on staff and stop hiring," Greenberg said.
Because many other schools stopped hiring, Drexel now has a wider talent pool to choose from, according to Adele Barbato, senior vice president of Human Resources.
"We now have a strategic plan to link hiring with strategic opportunities for Drexel," Barbato said. "From a recruiting standpoint, we can be opportunistic and strengthen our faculty from the new talent pool that's available."
Greenberg said many teachers who may not have considered Drexel previously might reconsider since other schools are in a hiring freeze.
"Many schools with the largest endowments are now in a hiring freeze, so a lot of people have to look elsewhere, in places they normally might not," Greenberg said. "It means more people will think twice about not applying to Drexel."
Jacob Lunderby, a recently hired adjunct professor of visual studies at Drexel, said many positions, both part-time and full-time, are questionable in this economy.
"In general, the availability of teaching positions is limited, so one does not always know during applying whether a position is available or not," Lunderby said. "I am surprised that Drexel is able to hire new faculty at this time."
According to Interim Provost Mark Greenberg, Drexel does not rely on its endowment for daily activities, which has allowed the school to slow hiring, not stop completely.
"In a good year, about 3 to 5 percent of a university's endowment will be used in the budget for that year," Greenberg said. "Drexel only uses 3 percent of its endowment and has continued that despite the economy."
Greenberg said other wealthier schools, such as Harvard and Yale, began increasing the 3 to 5 percent of their endowment money used in their budgets until almost half of the money in the budget came from the endowment.
"A large amount of that endowment money was now going towards maintenance and teacher salaries, so they had to start cutting down on staff and stop hiring," Greenberg said.
Because many other schools stopped hiring, Drexel now has a wider talent pool to choose from, according to Adele Barbato, senior vice president of Human Resources.
"We now have a strategic plan to link hiring with strategic opportunities for Drexel," Barbato said. "From a recruiting standpoint, we can be opportunistic and strengthen our faculty from the new talent pool that's available."
Greenberg said many teachers who may not have considered Drexel previously might reconsider since other schools are in a hiring freeze.
"Many schools with the largest endowments are now in a hiring freeze, so a lot of people have to look elsewhere, in places they normally might not," Greenberg said. "It means more people will think twice about not applying to Drexel."
Jacob Lunderby, a recently hired adjunct professor of visual studies at Drexel, said many positions, both part-time and full-time, are questionable in this economy.
"In general, the availability of teaching positions is limited, so one does not always know during applying whether a position is available or not," Lunderby said. "I am surprised that Drexel is able to hire new faculty at this time."
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