My wife works for a private university (you've heard of it), in a non-technical role, and it's the same there according to her and her friends at work. The pay is mediocre at best, but the benefits kick ass. Those include excellent health insurance, which as most reading this probably know is a very big consideration in the USA. So maybe that's just how universities do things.
Depending on where said fancy private uni that doesn't pay well is located might be an issue. Yes perks are good. But mediocre pay only goes so far if you're living in a high tax, high rent state.
