<p>To move into the next level, USC needs to make drastic changes, perhaps over time, but regardless, it must make a paradigm shift to join the top 20. </p>
<p>First, USC has the infrastructure – including physical plant, breath of majors, breath of graduate and professional schools, and athletic history – to rival HYPS and other top schools. Unlike the Ivy League, USC is not stuck in a hierarchy that defines the Ivies. For example, there is no chance that Cornell, Brown or Penn would ever achieve HYPS status; history is against them. Unless you get into HYPS, you might as well to USC, ND, Vandy or Rice over the other inferior Ivies. On the other hand, USC could conceivably surpass Cornell, Penn and Brown in the rankings. Dartmouth is harder to predict because it’s more of a college in characteristics. We also have the great California sunshine and weather on our side. USC’s location is also a plus and likely accounts for why USC was the ONLY school outside of HYSP that made both the parents’ and students’ list of top “dream schools” last year. </p>
<p>USC’s largest impediment to moving into the top tier is our very modest endowment, which stands at number 22 among all universities. In fact, with few exceptions, there is a direct correlation between endowment size and the USN&WR ranking. If USC is successful in this latest endowment campaign, we should be able to increase our endowment (presently at $3.5B) to around $6.5 billion, which will take us up a few notches, all else being equal. To meet our ambitious goals, I recommend we target wealthy parents whose children have gone to USC, even if the parents have no other connection with the school. There are several quite famous families who have children who have attended and/or graduated from USC. They are an untapped resource, IMO.</p>
<p>USC’s second largest handicap is its size. We have over 17,000 undergraduates, and that number has actually increased since the 1970s. (During the 1980s, we had about 16,000.) By contrast, Cornell, the largest of the Ivies, has about 14,000 undergrads. USC currently is larger than Cal, including our graduate students (38,010 vs. 35,899). USC will never climb into the top 20 with such large numbers, especially if we want to be considered counterparts of HYSP. I recommend shaving the size of our classes to around 2,000 per class (8,000 total), with another 2,000 transfers, for a total number of 10,000 at any time. The corresponding drop in revenue would need to be offset with higher endowment income, fewer staff and faculty, more graduate students, and a smaller menu of course offerings. We cannot be the Costco (i.e., UCLA) of privates, which is where Nikias appears to be taking us. (Norman Topping, the President of USC during the 1960s (and arguably the finest president we have had in the 20th century), tried cutting the class size (to mirror Stanford’s) with little success, largely because we had virtually no endowment at the time and it was financially unfeasible.) Because of our strong physical plant and infrastructure, trimming the size of our undergraduate student body will be relatively easy, while dropping our admit rate to around 15 percent, if not lower. That alone will propel us into the top 20.</p>
<p>Finally, and this is more long term, we do need another Norman Topping as president; i.e., someone who has graduated from the college (Topping was USC undergrad/M.D. and Penn VP) and a top ranked university. Chris Cox, the former Chairman of the SEC (USC-Harvard MBA) comes to mind. USC has several graduates who attended elite grad and professional schools. While I admire the John Sextons (i.e., president of NYU) of the world, USC will need less of a salesman and more of an academic (or at least academic pedigree) as its next president. I encourage all high achieving USC undergrads to go to a top grad or professional school (as did I) to enhance our breadth of well-educated alumni. We are all USC ambassadors, and USC needs more of us to enhance our brand name among the nation’s top grad and professional schools and beyond. So, as the saying goes, get your USC degrees, go forth and multiply!</p>