As NYU’s Tuition Soars, NYU Employees Leave with Seven-Figure Parting Gifts

It’s nice work if you can quit it. An article from yesterday’s New York Times goes into the shameful and mysterious phenomenon that is New York University’s bloated financial gifts to people who willingly resign from the school. There was, for instance, Jacob Lew, a former NYU executive vice president (and the new Treasury Secretary), who got almost $700,000 after leaving NYU and joining Citigroup in 2006. After Lew came Harold Koplewicz, the psychiatrist who quit the NYU Medical Center on his own accord and yet was still paid a $1.2 million lump sum in the 2009-10 fiscal year. More »