Let’s stir the pot. Who really is the chief revenue officer in a school? It’s a hot debate, and I’ve got five contenders. Read on, make your pick, and see if you agree with my conclusion.
- Director of Admission or Dean of Enrollment This seems like a no-brainer, right? This role is all about bringing in new students each year, a major source of income. Depending on the school, this person might be responsible for enrolling up to 100% of the student body in a year. That’s a hefty responsibility.
- Director of Advancement/Development Here’s another heavyweight contender. With responsibilities spanning annual funds, major gifts, and capital campaigns, this person draws in a significant chunk of revenue from parents, alumni, and possibly foundations. They’re definitely in the running.
- The Division Head, Principal, or Dean of Faculty This one’s a bit of a curveball. Overseeing the faculty and program, this person ensures the smooth operation of the school, which is crucial for retaining students. For most schools, revenue from re-enrolling students surpasses that from new enrollees. Keeping a stellar program means continuous revenue flow.
- Head of School The head of school is the key fundraiser in many institutions. This person brings in substantial funds. However, if we separate this role from the development office’s efforts, their revenue contribution might not be as pronounced, potentially taking them out of the top spot.
- Director of Auxiliary Services Often the underdog, but let’s give credit where it’s due. This role balances revenue and expenses through various auxiliary services, which can significantly impact the school’s finances.
My Take The Division Head is a strong candidate due to the retention of students, which is the largest revenue source for most schools. However, they don’t typically handle replacing attrition among returning students, which disqualifies them as the chief revenue generator.
So, who’s left standing? The Dean of Enrollment. Despite the collaborative effort required to bring in students, the “buck” ultimately stops with the Dean of Enrollment. This person is tasked with replacing the graduating class and covering any attrition. Given that schools are 70-90% dependent on tuition, it’s clear: the Dean of Enrollment is the Chief Revenue Generator.
Could it be clearer? Am I missing something? This isn’t to say that enrollment success falls solely on the Dean of Enrollment’’s shoulders. However, when it comes to leading the charge (or taking the blame for targets missed), they are the designated individual for bringing in the bulk of the school’s revenue.
When school leaders grasp this reality and consider the school’s financial health, they prioritize hiring for this role. Yet, meeting many new directors, it’s evident that some leaders don’t fully recognize this position’s critical role as the Chief Revenue Generator.
So, how is the Dean of Enrollment perceived at your school?
