Tag: salaries

You Need $88,275 to Be Happy in Maryland

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As Groucho Marx said, “Money frees you from doing things you dislike. Since I dislike doing nearly everything, money is handy.” But as Puff Daddy also said, “Mo’ money, mo’ problems.” So which is it?

According to Princeton researchers, who asked nearly half a million Americans to evaluate their happiness and reveal their salaries, having more money does make you happier… up to a point. And that point, according to their research, was $75,000. Beyond that annual salary, more money added negligible happy points.

UMD Basketball Coach is State’s Highest Earning Employee

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According to the Maryland Reporter, 6,847 state employees earn an annual salary over $100,000 — but only two make over a million. Mark Turgeon, the head coach of the University of Maryland’s basketball team, earned $2,229,194 last year. The school’s head football coach, Randy Edsall, made $2,078,248.

Small Maryland School Quietly Moves Against Inequality

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Photo via South MD News
Photo via South MD Newsin

Inequality is on the rise in the United States, as you might have heard; CEOs now make 354 times (!) as much as the average worker in the U.S.. At some companies the ratio is much worse — at JC Penny, the former CEO made 1,795 (!!!) times as much as his department store workers. It hasn’t always been this way; in 1950, CEOs made only 20 times as much as their workers.

When faced with numbers like that, it’s easy to just throw up your hands and assume rampant inequality must be inevitable. But that’s why this new proposal by students and faculty at St. Mary’s College is so inspiring: They want to cap the salary of the school’s highest-paid employee to ten times that of its lowest-paid employee.

Why Baltimore Beats New York, LA as a Home for Tech Workers

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Image via Dice
Image via Dice

Everyone knows that people working in Silicon Valley make a lot of money. To put a number on it: The average salary for a tech worker there is $108,603 — plus an average annual bonus of $12,458. But those people also have to pay San Francisco real estate prices.

The real paradise for techies? Baltimore, it turns out. Tech workers in the Baltimore/DC area earned an average salary of $97,588 according to the Dice Salary Survey; that’s the second-highest in the nation. That means people working in the industry here are earning more than their counterparts in Los Angeles, New York, Atlanta, or Austin. And forgive me for belaboring the point, but the numbers speak for themselves: Average home price, Silicon Valley = $1.27 million (yes, average). Average home price, Baltimore = $241,700.

Baltimore Is One of the Best U.S. Metros for Recent College Grads

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In case you haven’t heard, it’s a tough job market out there — and it’s even tougher for young people. But that’s not always the case, as a recent data analysis from Richard Florida and the Atlantic Cities shows:  Some metro areas have plenty of job openings for people with post-secondary education, and Baltimore turns out to be one of them.

Three Marylanders on List of 200 Highest-Paid CEOs

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Zaslav is Maryland's highest-paid CEO -- though he's still not as rich as his pal Oprah.
Zaslav is Maryland’s highest-paid CEO — though he’s still not as rich as his pal Oprah.

Courtesy Citybizlist — Led by Discovery Communications’ David M. Zaslav, three Maryland CEOs are among the nation’s top 200 highest-paid chief executives, according to a list compiled by Equilar, an executive compensation data firm, and published by The New York Times.

Which Local Universities’ Grads Make the Most Money?

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It’s not who you might expect. PayScale, a website that aggregates economic data to help people understand whether they’re under- (or over-) paid just released its 2012-13 data ranking various universities for their salary potential. A quick data point:  Princeton grads have an average starting salary of $58,300 and an average mid-career salary of $137,000. And because money isn’t everything, PayScale also asks alumni whether their job “makes the world a better place”; 49 percent of Princeton grads think that it does. (The site surveyed students with a bachelor’s degree from the institution, not MD/MA/PhD grads, in case you’re wondering). The lowest-earning school on the list is the online division of the Art Institute of Pittsburgh (because who goes to art school online!?), where fresh grads average $34,200 and those with a decade or more under their belt make $42,300, on average. Curious about how some local schools measure up? We’ve got the answers below:

Under Armour CEO Kevin Plank’s Comp. Jumped 35% in 2012

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Kevin Plank
Kevin Plank

Courtesy Citybizlist – Under Armour Chairman and CEO Kevin Plank’s total compensation last year jumped 35% to $1.53 million, according to a proxy filing with the SEC. In 2011, he earned $1.13 million.

The Baltimore-based sports apparel company said Plank’s base salary remained unchanged at $26,000. Like in the previous two years, his only other income came in the form of non-equity incentive. Last year, it amounted to $1.5 million, up from $1.1 million in 2011.

It’s Good to Work for UMBC — And Bad to Work for Pretty Much Any Other College

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The happy way to spin this is that UMBC is the 13th best college to work for, according to the Chronicle of Higher Education. Which is great! But the underlying message here is that most colleges are kinda terrible places to work for, at least for temporary adjunct appointees. The low pay, lack of benefits, and general overwork of adjuncts has gotten so bad that the IRS has stepped in — and you know things are dire when the IRS suddenly seems heroic — to warn colleges that they need to figure out a better system. Because the current one doesn’t just hurt adjuncts; it hurts faculty and students, too.

Baltimore: Things Are Looking Up

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I like a little good news on a Friday morning, how about you? Well, here’s some:

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