According to the College Board based on NCES statistics, average faculty salaries at private nonprofit bachelor’s colleges (which would include LACs) increased by only 5% in real inflation-adjusted dollars between 2001-02 and 2016-17, and were essentially flat at research universities. So if colleges are spending more for faculty, it’s either because they’re employing more faculty relative to enrollment, or because non-salary benefits (e.g., health insurance) are taking a bigger bite. It’s been well documented elsewhere that the biggest growth in payroll costs has been in non-faculty administrative and support staff. And much of this has come about in response to consumer demand. Colleges are engaged in a kind of arms race to see which can provide the most deluxe suite of support services and outside-the-classroom bells and whistles, all of which require staff and facilities. Technology’s expensive and requires near-constant upgrades, and students are attracted to schools that offer the plushest dorms, the best food, and the nicest facilities. It’s not faculty salaries that are driving this runaway train.