The national center for labor statistics says labor costs are about 30% of the spend [0]. STEM programs also include Liberal Arts courses, so only a fraction of the 30% goes to STEM professors pockets. AFAIK, STEM professors justify their value by generating money for the university via patents and grants.
While there are a massive number of private liberal arts schools, there are relatively few private STEM schools. Most STEM degrees come from public university that are significantly cheaper than private universities.
While there are a massive number of private liberal arts schools, there are relatively few private STEM schools. Most STEM degrees come from public university that are significantly cheaper than private universities.
[0] - https://nces.ed.gov/fastfacts/display.asp?id=75