March 4, 2005

Uneven Stevens

Even as a New Jersey university experienced operating deficits and endowment losses, its president received big pay raises. Some professors are asking why.

By SARA LIPKA

With a hefty paycheck in hand and the Manhattan skyline gracing his office window, Harold J. Raveché thinks big.

In the next five years, the president of the Stevens Institute of Technology wants to double the number of Ph.D.'s that his university grants, and to expand the faculty by 30 percent, creating at least 45 new positions. He plans to double the value of Stevens's research grants, to $50-million, increase its endowment by almost 65 percent, to $200-million, and finish