The high-level administration has multiplied also, in addition to the more peripheral administrative initiatives growing. Where there might have once been a Chancellor and perhaps a Vice Chancellor, there's now a whole Office of the Chancellor, a slew of Vice-Chancellors and Executive Vice Chancellors and Provosts and Deans and Associate Deans, all with staff, etc. Their pay has also increased, even relative to other university pay; the salary multiple of top-level administrators relative to a median professor in 2010 versus 1960 is much larger.

It seems to largely be a result of the professionalization of the administration; in ye olden days universities were largely self-run by the faculty, with Deans and Vice-Deans just being professors who moved up into that position, sometimes rotating in temporarily. Now there's a whole category of professional career administrators who jump school-to-school, roughly parallel to the executive-management class in private-sector organizations (and they expect salaries in the $200k-$600k range).