Schools as Investment-Grade Entities

​Bear with me, this one might be a little bit spicier than the usual posts. The following is simply my take of my experience, and entirely my opinion. If you need more information about what has been happening, I’d recommend looking into the recent CIM Title IX allegations which have ignited this discussion.

I graduated this past spring from a master’s program in music composition. However, like I imagine many graduates have felt recently, instead of being proud of the work I accomplished during my time, I felt empty. I was simply free of the incessant roadblocks, unanswered questions, and lost opportunities that harried my time studying. I felt dread in anticipation of facing the financial burden which I no longer felt was worth what I had received. I was exhausted from two years of finding new examples of how lost classical music is right now, and I walked across a stage feeling disgust for the leadership who expected my grateful niceties and handshake, both of which I was not able to provide. 

​It wasn’t all bad, I felt admiration for friends who displayed incredible resolve and leadership in their attempts to challenge those who ruin our collective experience. I felt grateful toward the incredible teachers who still managed to inspire, challenge, and make us love what we were doing, even as they were being actively hampered and cut out of the budget. I also found that I now understood just how much work needs to be done to fix the modern approach to music. I want to make clear that I believe it’s fixable, but right now this beautiful art we love is being strangled.

While news about the leadership of this particular institution has been starting to circle more broadly, which is a good sign, steps towards the removal of current leadership don’t appear to be happening. The only way I can see this school recovering from this crisis is with a change in leadership and a redistribution of power to share with students and faculty. There should be strong checks on leadership decisions by those on the ground; the people who are actually experiencing and struggling with policy first hand. Without proper infrastructure and protections in place, this mess will happen again. The sad truth is that the only way for the school to do this, absent a student/teacher strike, is through external pressure. Anyone with the power to change things within the institution is standing solidly behind this travesty of an administration.

​It’s with these issues on my mind, that I want to showcase an older email I received from my former school which I find epitomizes their current priorities, and likely the priorities of many institutions (in my opinion). The email’s tagline reads as the following, “News of Note: CIM’s credit rating affirmed by Standard & Poor's”. Upon my original reading of this title, I knew I was in for a treat.

To give context, this email was released on August 21st. If you’re aware of the crisis timeline, you’ll know that this was sent out shortly after the Title IX investigation into Carlos Kalmar was cleared by the institution. Clearly a morale boost was needed.

The email’s body continues, “Late last month, CIM received an affirmation from the Standard & Poor’s Global Ratings Agency of its BBB-credit rating and earned a “stable” outlook. The rating is a favorable mark that characterizes CIM as an “investment-grade” entity.” An investment-grade entity? Really? I thought I went to a school? You know, a place where you learn things, a place whose sole purpose and interest is to teach? I must have been mistaken… 

​Now, before you pile on and insist that a school needs to pander to wealthy patrons in order to stay afloat, I will say I am well aware of the fact that we live in a system that enforces the need to make money. Trust me, I get a nice reminder of it at the end of every month, just like all of you. However, I will remind you that the president of this “investment-grade entity” makes a whopping $387,000 salary. That’s enough to cover the complete tuition of 9 to 10 students, or hire 6 new faculty members (albeit at the usual meager pay the institution provides). I would argue that the only reason that the school needs to appear so profitable as an investment is to make enough money to pad the pockets of those who drain its coffers in the first place. 

Considering the fact that staff/faculty members in the industry have been offered unlivable contracts and cut left and right, I am encouraged to believe my argument is founded. Yes, I believe teachers and staff should be paid enough to stay above the poverty line, and I believe there’s plenty of money to do it. It’s just going to have to come from the top for a change. Radical, I know.

​After reading the rant above, you might find it surprising that I think the S&P ranking is accurate. Having been inside its halls and experiencing its dysfunction firsthand, I believe the school looks like a fantastic investment on paper. Why? After all checks on the power of a runaway presidency were removed, all opportunities for discussion and reform were sidestepped, and all employees on single-year contracts were threatened into silence, there is nothing preventing this school from becoming a true “investment-grade entity”. The president can do, say, and claim whatever he wants, and all publicity paints a picture of a golden institution. From what S&P can see, their assessment is correct, the current system is remarkably lucrative.

However, stepping away from the paper and actually looking at the situation the school is facing, I don’t think there is a worse investment. The school is not “stable” in any capacity, it cycles through employees faster than students, and clearly disregards any issues it encounters. It is scary that they would remain silent on such serious student concerns and calls for reform, but broadcast their profitability so loudly… at least until you remember what their real priorities are.
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Summary:
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​The current higher education system is less interested in educating and more interested in profiting off of young musicians and then slapping their name on any success they may achieve, taking partial credit for it, and using it to market their mess to the next generation of aspiring musicians. It’s a marketing machine that makes money off of selling the dreams of aspiring artists, then neglecting to offer them insight into their tangible achievement. The result is an education system which not only actively blocks those with financial need from participating, but also leaves the few who muster the cost with little to show for it. It’s only through the underappreciated efforts of teachers that a student may glean some value. 

Wait, but what about what the students are there for? What about preparing them for an incredibly difficult job market? What about adequately compensating teachers/staff for their work?

Unfortunate, but worthwhile sacrifices. Anything for that six figure salary.

This hurts the health and passion of our entire industry. 

It can not be ignored.

Until next time, thank you for reading, and despite the opposition, keep on jamming.