After paying thousands of dollars in tuition, sitting through lectures with hundreds of other students taught by sessional lecturers making less than an assistant manager at McDonald’s and finally having the privilege of paying a graduation fee, it’s no wonder students find themselves asking; Where did my tuition money go?
Students at Hamilton’s McMaster University are learning exactly where their money is going: retirement “bonuses”, social clubs, financial advisers, car allowances, social club memberships, and country clubs for already well paid administrators.
The Hamilton Spectator, in a front page story today, revealed the contracts of McMaster’s
The Spectator requested the contracts under Ontario’s Freedom of Information and Protection of Privacy Act. The Spectator, to its credit, has posted all the contracts on its website.
The contracts reveal a wide ranging assortment of perks for senior administrators of the university which, despite facing another budget deficit, seems unable to restrain itself in providing the highest compensation to its senior administrators of any public university in Canada.
The most shocking revelation in the contracts is the massive retirement payout afforded to Dr. John Kelton, the university’s vice-president and dean of health sciences. His current contract, which expires June 30, 2011, includes a $1.44 million payout if he retires at that time.
This is the largest known retirement payout of any university employee in Ontario and likely the largest payout in Canada’s post-secondary sector. The payout is on top of any pension he receives as a former senior executive at McMaster University and slightly higher than a planned $1.4 million payout to McMaster president Peter George. …
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