New Ask The AD

[FU3]

Furman is a target rich environment for all manner of consultants and studies.Kind of begs the question of why the institution pays over $890,000 per year to the President. It also employs a “Chief of Staff” for almost $200,000 ( a position created by this administration)
Several years ago the President made it clear to faculty and staff that that keeping Furman student enrollment small would foster higher exclusivity thus resulting in greater yield per student.That theory appears to have been shelved.

[cavedweller2]

Over 1,000,000 for President and Chief of Staff? At Furman? WTF. Start there. Pala-Doge.

[Affirm]

When can we expect baseball to return? Soon I hope.

I would expect that we see the departure of more sports before we see the addition of any.

There is a Bain study going on now that will have recommendations about how to address the operating shortfall. Our tuition is high, and while our applications are up, our yield from acceptances is still too low because we cannot "discount" the tuition enough to overcome the cost of attendance at surrounding schools.

Until we get more students, and more full paying students, we are going to continue to face these financial issues.

Thank you.
What is a Bain study?
When did that start?
When will it be completed and reported?
Why is it a good resource for such a study?
Is it athletics only or mainly, or it it the entire institution?
When, if ever, was the last time such a study was done; and what happened after that?

OK. Looks like a great move to me. I’ve found good info on Bain and Company.
You can skip my questions #1 and #4, but My other questions still are open.
I am very glad it is being done. Hopefully the results of the study will be positively accepted and appropriately used.
Excellent that Furman is doing this for our 200th year.

[FUBeAR]

When can we expect baseball to return? Soon I hope.

I would expect that we see the departure of more sports before we see the addition of any.

There is a Bain study going on now that will have recommendations about how to address the operating shortfall. Our tuition is high, and while our applications are up, our yield from acceptances is still too low because we cannot "discount" the tuition enough to overcome the cost of attendance at surrounding schools.

Until we get more students, and more full paying students, we are going to continue to face these financial issues.

Thank you.
What is a Bain study?
When did that start?
When will it be completed and reported?
Why is it a good resource for such a study?
Is it athletics only or mainly, or it it the entire institution?
When, if ever, was the last time such a study was done; and what happened after that?

These are great questions. If only someone would have provided background info and asked them, and others like them, earlier in this thread.

[Affirm]

My recollection was that in an ask the AD shortly after House was announced, Donnelly said we would pay what we needed to pay to stay in D1 (the 300k/yr in back payments to prior athletes pool) but that we would opt out of the revenue share going forward. My understanding is opting out of rev share has no impact on our ability to do NIL.

Now, there is a lot of water under the bridge since then. I'm not sure all SoCon schools are opting out of rev share. We may have reevaluated.

I think the administration thinks the value we get out of basketball is much greater than football in terms of brand exposure. But admin is reluctant to move FB down due to cultural factors and such... but we don't fund it in the way theat Mercer and others do.

I think the view on Football is short sighted. Very few schools that are investing in Football are not reaping significant returns. And if we are not going to pay rev share in hoops, you have to wonder how that is going to impact our ability to draw the talent we need.

I would hate to see us slide in both sports because we are not investing.

“[Admin is reluctant to move football down]…due to cultural factors and such.”
I would like to see an honest, unbiased, meaningful, data-based, accurate, true, complete, and understandable analysis of “cultural values and such” that cause the supposed reluctance by Admin (= Board of Trustees).
I do not expect for UFFP a source for such an analysis, but I’ll continue to read UFFP for any information on the matter.

OK, hopefully Bain study can provide that analysis of “…cultural values and such …” that I said I would like to see. There is hope!

[Affirm]

Over 1,000,000 for President and Chief of Staff? At Furman? WTF. Start there. Pala-Doge.

Those compensation numbers seem to me to be very appropriate. Yes, Chief of Staff is necessary. And my impression about is President’s income is that a large percentage of that number relates to the mansion (residence).

[FU3]

You would be incorrect for the housing component . As for the Chief of Staff my understanding is she has one direct report ( an Administrative Assistant … another new position). If you choose to believe that our current President is worth the money that is your option. I believe if you had conversations with faculty and staff you would not find that a very shared view.

[FUBeAR]

My recollection was that in an ask the AD shortly after House was announced, Donnelly said we would pay what we needed to pay to stay in D1 (the 300k/yr in back payments to prior athletes pool) but that we would opt out of the revenue share going forward. My understanding is opting out of rev share has no impact on our ability to do NIL.

Now, there is a lot of water under the bridge since then. I'm not sure all SoCon schools are opting out of rev share. We may have reevaluated.

I think the administration thinks the value we get out of basketball is much greater than football in terms of brand exposure. But admin is reluctant to move FB down due to cultural factors and such... but we don't fund it in the way theat Mercer and others do.

I think the view on Football is short sighted. Very few schools that are investing in Football are not reaping significant returns. And if we are not going to pay rev share in hoops, you have to wonder how that is going to impact our ability to draw the talent we need.

I would hate to see us slide in both sports because we are not investing.

“[Admin is reluctant to move football down]…due to cultural factors and such.”
I would like to see an honest, unbiased, meaningful, data-based, accurate, true, complete, and understandable analysis of “cultural values and such” that cause the supposed reluctance by Admin (= Board of Trustees).
I do not expect for UFFP a source for such an analysis, but I’ll continue to read UFFP for any information on the matter.

OK, hopefully Bain study can provide that analysis of “…cultural values and such …” that I said I would like to see. There is hope!

Having been a Consultant for a firm nearly as well known as, if not quite as prestigious as, Bain...and having worked for companies that have engaged firms like Bain; FUBeAR would opine that...

...most likely, Bain will take a combination of the current goals & notions of their Executive Sponsor(s) (Internal FU Board/Executives) and the positions Bain generally espouses within their practice/within their firm, with learnings from prior engagements folded in, and then parse some of the relevant (and selected) Furman-specific metrics/data into their study (findings). Then, they will tune their recommendations around those goals, notions, positions, and learnings with the relevant (and selected) data as the justification (data-driven, y'know) predicate for their recommendations. Also, their recommendations will be tuned to provide additional follow-up / implementation work for their firm and/or their partner organizations - such as software providers and/or other more specifically-focused niche firms.

This is not intended to be a smear on Bain or on FU Leadership for engaging Bain. Consulting firms can do great work for their clients and provide substantial insight to leaders, particularly when those insights are just very difficult to see/find from the inside. That said - the above is the way consulting firms work. They charge a lot and their Partners/Consultants/Stakeholders are well-paid. They are very good at making a lot of money for themselves, while providing (often) valuable work for their clients - even if that work can be a bit formulaic (their "secret sauce") and include add-on and incremental alliance-derived revenues.

[FUATT]

When can we expect baseball to return? Soon I hope.

I would expect that we see the departure of more sports before we see the addition of any.

There is a Bain study going on now that will have recommendations about how to address the operating shortfall. Our tuition is high, and while our applications are up, our yield from acceptances is still too low because we cannot "discount" the tuition enough to overcome the cost of attendance at surrounding schools.

Until we get more students, and more full paying students, we are going to continue to face these financial issues.

Thank you.
What is a Bain study?
When did that start?
When will it be completed and reported?
Why is it a good resource for such a study?
Is it athletics only or mainly, or it it the entire institution?
When, if ever, was the last time such a study was done; and what happened after that?

Sorry.
Bain is a global management consulting firm. Like McKinsey or Boston Consulting Group. They come in and tell you how to create efficiencies, maximize revenues and value, etc.
I know it is in progress but don't know when it will be completed/reported.
I believe it is entire institution.
We have had things like this done in past, most schools do. I think the "Furman Advantage" positioning was a recommendation from a similar process.
If you have been to any of the Clearly Furman fundraising events, you know that we are looking to raise money primarily for academic support to provide more tuition assistance/scholarship/discount rate to incoming students to close the yield gap, convert more acceptances into enrollments. If we can do this, and get more paying students, then we can better protect budgets for non academic things such as athletics, student life, etc. etc. That is the idea anyway.

[apaladin]

Sorry Affirm(aka Mr. Davis) looks like FU has no plans to drop down in fb as they just announced FBS games thru 2029.

[tim]

For those enamored with Davidson, their last few years of football is an anomaly. Generally, their football team has been a national joke. Once, I'm sure they neared the national record of years without a win. Their move out of the SOCON almost destroyed their basketball program also. They spent some time as an independent and then a Big South member as a low win program and their coaching applications contained the question " Would you still be a candidate if the program moved to division III ?" The program was saved by Davidson alum Terry Holland who as AD moved the program BACK INTO THE SOCON. Good alums are important (like FFPA). Then Holland hired Mckillop , things improved and they went to the A10 being the ingrates that they are. I would suggest asking around the football stands and parking lots what people think of the Pioneer League? That wouldn't cost a million per year. At that price a school should get innovated problem solving rather than hiring consultant firms and cutting programs. What should be the normal tenure of a Furman president? YES, start there.

[FU Hoopla]

[FU Hoopla]

Good stuff guys, thank you!

[Roundball]

As always, great interviews and info. Thank you.

[FUATT]

Lot of information and assurances in there.

Sure wish there was a link to watch this Bain Town Hall event.