<p>To echo Mini, universities across the US are suffering. Some are being more open about it while others are trying to downplay. Even those with HUGE endowments (HYPMS) have enacted budget cuts because they use X percent of the endowment for operating expenses, salaries, financial aid, etc., and if the endowment shrinks, so does the dollar amount of X percent.</p>
<p>Merit raises are mostly frozen, and in some cases, so is faculty hiring. Right now, most colleges are trying to maintain the status quo rather than concentrating on improvement. At Smith, “status quo” will do for now because of its excellence.</p>