My friend went to Naropa in Boulder, which has an amazingly low pay scale. No wonder it's not a great option for instructors and students.
It would be nice if faculty pay grew with inflation, but with more and more people with upper level degrees, it just can't happen. It's a simple supply and demand thing -- more women are being hired as professors, meaning there's that much more of a hiring pool, thus salaries go down. Happened with lawyers, too.