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FWST: TCU’s chancellor knows when he will retire, but he eyes a national title before then

TopFrog

Lifelong Frog
TCU’s chancellor knows when he will retire, but he eyes a national title before then

BY Big Steaming Pile

Victor Boschini’s white “TCU Rose Bowl” champions hat from 2011 sits behind his desk, and at one point over the last year, when the job security of the longtime TCU chancellor appeared shaky, he had more made.

“During the pandemic I had the hats made so I could send them to students and donors,” he said in his office. “I sent a little note with the hat and just said, ‘Remember how great this was?’”

Alumni and donors certainly remember it, but current students were probably watching The Disney Channel or Nickelodeon back then. Boschini is 65, and he realizes he doesn’t have much more time left before he retires. He’d like to squeeze in one more Rose Bowl type moment before he leaves a job he’s had since 2003.

Read more at https://www.star-telegram.com/sports/spt-columns-blogs/mac-engel/article250617809.html
 

Big Frog II

Active Member
at what point was his job security shaky?

he will be difficult to replace
The faculty through hissy fits last summer about his handling of the virus situation. He and his staff have done an amazing job getting the University through this mess. He has transformed this University beyond my wildest dreams. He no doubt will be missed and be very, very difficult to replace. As for our faculty, we have so many great members on that staff, but often they do not look past their own self interest. 2020 was difficult for everyone in this country. Everyone was inconvenienced, they often could not understand why they had to be.
 

Hoosierfrog

Tier 1
The faculty through hissy fits last summer about his handling of the virus situation. He and his staff have done an amazing job getting the University through this mess. He has transformed this University beyond my wildest dreams. He no doubt will be missed and be very, very difficult to replace. As for our faculty, we have so many great members on that staff, but often they do not look past their own self interest. 2020 was difficult for everyone in this country. Everyone was inconvenienced, they often could not understand why they had to be.

Didn’t know Maniac had that much influence...
 

ticketfrog123

Active Member
The faculty through hissy fits last summer about his handling of the virus situation. He and his staff have done an amazing job getting the University through this mess. He has transformed this University beyond my wildest dreams. He no doubt will be missed and be very, very difficult to replace. As for our faculty, we have so many great members on that staff, but often they do not look past their own self interest. 2020 was difficult for everyone in this country. Everyone was inconvenienced, they often could not understand why they had to be.

the faculty stuff is a bit more complicated than what people on this board make it out to believe.

to my knowledge, they receive no bonus and have had their retirement contribution %(pension?) cut a few times within the past 8 years.

TCU tuition has dramatically increased but the inflation 2-3% raises haven’t always happened.

I would find it frustrating if my employer was making more tuition money, excluding the Covid year, while cutting my benefits pre-Covid.

there are more than a few faculty & staff who could easily transition back to the corporate workforce if they wished
 

ticketfrog123

Active Member
Then they should do so if they are upset with their current situation.

Why should they receive a bonus?

im not saying they should receive a bonus - they probably view their retirement match as one. If that gets cut - it’s a significant hit to compensation that’s tax advantaged for most of them.

people are what make the university. If they leave, I think you’d rather not have them replaced by the UNT types or whomever is most convenient.

Imagine the pitchforks if we hired an AD from UNT — we expect excellence across the university
 

flyfishingfrog

Active Member
the faculty stuff is a bit more complicated than what people on this board make it out to believe.

to my knowledge, they receive no bonus and have had their retirement contribution %(pension?) cut a few times within the past 8 years.

TCU tuition has dramatically increased but the inflation 2-3% raises haven’t always happened.

I would find it frustrating if my employer was making more tuition money, excluding the Covid year, while cutting my benefits pre-Covid.

there are more than a few faculty & staff who could easily transition back to the corporate workforce if they wished
yeah - not really.

I think you are way over estimating the value of an academic background to a corporate world....maybe they could try single shingle consulting but the big guys like McK, Booz, Deloitte or EY are not hiring our faculty - at least not at the income level they make now and given their ages - probably not at all since they would be expecting senior roles but have little or dated industry experience.

its hard to go from corporate to academia late in life - it is even harder to go the other way around because companies want people who have done it before and with today's pace of operations - done it recently, not talked about it.

and by the way - what corporation are they going to be getting a pension? the best they could hope for is a 3 year cliff 401k matching from an employer at this point in the real world.
 

ticketfrog123

Active Member
yeah - not really.

I think you are way over estimating the value of an academic background to a corporate world....maybe they could try single shingle consulting but the big guys like McK, Booz, Deloitte or EY are not hiring our faculty - at least not at the income level they make now and given their ages - probably not at all since they would be expecting senior roles but have little or dated industry experience.

its hard to go from corporate to academia late in life - it is even harder to go the other way around because companies want people who have done it before and with today's pace of operations - done it recently, not talked about it.

and by the way - what corporation are they going to be getting a pension? the best they could hope for is a 3 year cliff 401k matching from an employer at this point in the real world.

more than a few accounting faculty came from big 4.

Supply chain and BIS departments at Neeley have worked in private sector too + consulting projects for DFW companies last I heard

Dean Pullin is ex-McKinsey

not sure what industry you’re in but a 3% match with 3 year vest is below average.

energy companies are 5% or more annual with no vesting. Big energy still has pensions. Lockheed might as well

Yum brands in Plano is also 6% no vesting period
 
Biggest news: Power 5 chancellor says that he definitely thinks another conference realignment is coming and likely in the next 5-10 years when TV contracts come up. Many of us suspected it, but he just went on the record.
 
Boschini has performed his tenure as Chancellor with exceptional competency and

distinction. However, a thorough evaluation of certain segments within the faculty

might prove beneficial.
 

flyfishingfrog

Active Member
more than a few accounting faculty came from big 4.

Supply chain and BIS departments at Neeley have worked in private sector too + consulting projects for DFW companies last I heard

Dean Pullin is ex-McKinsey

not sure what industry you’re in but a 3% match with 3 year vest is below average.

energy companies are 5% or more annual with no vesting. Big energy still has pensions. Lockheed might as well

Yum brands in Plano is also 6% no vesting period
Again going back to the “private” sector after being gone for years is a lot harder- don’t care if you were there or not

Being a Senior manager in a accounting firm 10 years ago doesn’t get you a job now because audit and tax are not even close to the same job with automation, AI plus regulatory changes

and retired McK partners are exactly that - retired. And for a reason...people don’t walk away from 7 digit jobs with partnership pensions and equity to just go back later and there are not many boomerangs at the equity levels in those firms. I am guessing he made his bank and wanted out of the grind- or he aged out.

most big consulting companies age out at 60-62 - so forced retirement and they typically don’t admit external hires for equity roles after 50 because the “pension” calcs don’t work. And doubt many of them would leave academia to be just an employee at a company

I sit on 6 boards- three of which stopped matching this year period and companies like Exxon stopping their retirement matching program was well publicized- so the faculty isn’t any worse off than many employees of corporations

interestingly 4 of the 6 have an academic on them - but none have former full time professors in EVP, C level roles

but most do 50% vested 1/3 each year- so what 5-6k a year if you max out your contribution- not exactly the same as the lifetime pension our faculty has for sure

what big oil company still offers a pension? Chevron quit on 2008, exxon does after 15 years but they control payout and contributions and stopped this year , Shell doesn’t for US employees - they all used to but pensions are a loser liability wise for companies
 

ticketfrog123

Active Member
Again going back to the “private” sector after being gone for years is a lot harder- don’t care if you were there or not

Being a Senior manager in a accounting firm 10 years ago doesn’t get you a job now because audit and tax are not even close to the same job with automation, AI plus regulatory changes

and retired McK partners are exactly that - retired. And for a reason...people don’t walk away from 7 digit jobs with partnership pensions and equity to just go back later and there are not many boomerangs at the equity levels in those firms. I am guessing he made his bank and wanted out of the grind- or he aged out.

most big consulting companies age out at 60-62 - so forced retirement and they typically don’t admit external hires for equity roles after 50 because the “pension” calcs don’t work. And doubt many of them would leave academia to be just an employee at a company

I sit on 6 boards- three of which stopped matching this year period and companies like Exxon stopping their retirement matching program was well publicized- so the faculty isn’t any worse off than many employees of corporations

interestingly 4 of the 6 have an academic on them - but none have former full time professors in EVP, C level roles

but most do 50% vested 1/3 each year- so what 5-6k a year if you max out your contribution- not exactly the same as the lifetime pension our faculty has for sure

what big oil company still offers a pension? Chevron quit on 2008, exxon does after 15 years but they control payout and contributions and stopped this year , Shell doesn’t for US employees - they all used to but pensions are a loser liability wise for companies

You are incredibly misinformed. Not sure what planet you live on but there is no such thing as AI at Big 4 accounting in the tax or audit departments

Exxon was the first super major to freeze retirement contributions and possibly the last to un freeze (many other oil companies did not freeze, Exxon had too many employees to start)

your Google skills or industry knowledge need improvement. Shell, Exxon and all other majors most certainly offer a pension plan in the USA. Chevron 100% does.

no pension requires 15 years of service to vest, that’s to “retire” under the plan. It’s a 5 year vest to fully own and have portability of the pension.

oil majors are competitive with each other and tend to offer very similar benefits to retain talent — even smaller oil companies have similar terms.

sounds like you’re on the HOA board or something inconsequential given your lack of understanding for pension benefits/liabilities.
 

FWSTC Hfrog

Active Member
Biggest news: Power 5 chancellor says that he definitely thinks another conference realignment is coming and likely in the next 5-10 years when TV contracts come up. Many of us suspected it, but he just went on the record.
Talks of realignment to a 64 school (4 conf. w/16 teams) P4 will start no later than summer of 2023. Look at the current P5 and ALL the state schools currently in will remain + Notre Dame. It would be too big of a headache to deal with D.C. to do otherwise. TCU may deserve to be in over some of those, but can't overcome the politics. Stanford and Miami are in. I believe it is going to come down to the last seat at the table between TCU and BU, AGAIN. Hope good will and location wins out and that last chair belongs to the Frogs. Being on the outside looking in twice in my lifetime is too much to fathom.
 

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