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Salary Formulas

Salary Formulas. Presented to the Faculty Salary and Benefits Committee 11 January 2011. Salary Formulas. Salary Range Formula: used for new or replacement positions;

damon-haney
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Salary Formulas

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  1. Salary Formulas Presented to the Faculty Salary and Benefits Committee 11 January 2011

  2. Salary Formulas • Salary Range Formula: used for new or replacement positions; • Target Salary Formula: used to determine raises (when funds are made available by the legislature and/or the University President)

  3. (Tenure-Track) Faculty Salary Range Request Form The following information is needed from the hiring supervisor in order to determine a salary range for a new hire tenure-track faculty member. [Note: Currently, there is no policy or procedure for calculating a salary range for a visiting faculty member. Yet, it seems like hiring supervisors are using the salary ranges for tenure-track faculty as a guide.] CUPA CIP code(s): _________52.16__________________ [Choose the CIP code(s) that most closely represent the nature of the position to be hired or specify that you would like the same category as the person being replaced (and name the person).] Academic Year of hire: _____2010-2011____________________ [E.g., AY 2008-09] Length of Contract: __10 month_and 12 month____________________ [E.g., 9-month, 10-month, 12- month, etc.] Rank: _Assistant Professor_______________________ [E.g., Assistant Professor, Associate Professor, etc.] The salary range will then be computed at 83% to 86% of the corresponding average salary reported by CUPA-HR for the academic year two years prior than the academic year of hire. A salary range will also be computed at 95% of these amounts for a new hire without a terminal degree. These salary ranges will be prorated for contract lengths other than 9 months.

  4. Salary Range Formula(for new or replacement positions) • Salary Range Minimum = (Degree Factor)*(CUPA Average)*(0.83)*(Contract Length Factor); • Salary Range Maximum = (Degree Factor)*(CUPA Average)*(0.86)*(Contract Length Factor); where • Degree Factor = 1 for a terminal degree; Degree Factor = 0.95 for a non-terminal degree; • CUPA Average depends on discipline and rank; • Contract Length Factor = 1 for a nine-month contract; Contract Length Factor = (1 + (2/27)*(# of months above nine))

  5. Faculty Raise Distribution Procedure

  6. Target Salary Formula • Target Salary = (Degree Factor)*(CUPA Average)*(0.83 + 0.0175*(Years in Rank) + 0.002*(Years at WNMU)); where • Degree Factor = 1 for a terminal degree; Degree Factor = 0.95 for a non-terminal degree; • CUPA Average depends on discipline and rank; • Years in Rank is a value no greater than 8; • Years at WNMU (in a tenure, tenure-track position or visiting position (after 2007-08)) is a value no greater than 25.

  7. Deficit = Target Salary - Actual Salary(Total Deficit = $1.7M)

  8. Raise = (Raise Factor)*Deficit; whereRaise Factor = (Available Monies for Raises)/ (Total Deficit for all Faculty)

  9. Promotions(Subtracted from available funds prior to raise distribution; prorated for contract length) • From Associate Professor to Professor: $4,000; • From Assistant Professor to Associate Professor: $2,750; • From Instructor to Assistant Professor: $2,000.

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