Harvard’s Endowment Managers Earned Nearly $27-Million in Fiscal 2008

Harvard University’s six top endowment managers earned a combined $26.8-million in the year that ended in June 2008, a 15-percent raise that university officials say rewarded the employees for a strong performance, reports The Wall Street Journal.

News of the raises, earned in a period when Harvard’s endowment earned a return of 8.6 percent, while the Standard & Poor’s index dropped 13 percent, comes on the heels of university budget cuts and an $8-billion drop in the school’s endowment since June 30.