Faculty Market Analysis

Recognizing and rewarding our faculty is a university priority. To support this priority and enhance our recruitment and retention efforts, we are working diligently to ensure that faculty salaries are competitive. In spring 2024, the Provost's Office launched a project to review compensation for full-time faculty across the university who are not covered by a collective bargaining agreement.

This multiphase project includes a market benchmark analysis and a market pricing strategy. For the first phase, we are partnering with consultants at Willis Towers Watson (WTW), experts in compensation strategy and design. Phase one will conclude by the end of the fall 2024 semester with a market pricing strategy and a report with recommendations. During this phase, we will engage faculty stakeholders from each school to share their perspectives on compensation practices and provide input on which peer schools to include in the analysis for comparison.

In the second phase of the project, the consultants will deliver their findings and recommendations to the deans, and the deans will develop plans for implementation at their respective schools. In the project’s final phase, we will develop university-wide guidelines and best practices for faculty compensation.

This a multi-phase project and as of Fall 2024, we are in Phase 1.

Phase 1 (May 2024 – ~December 2024): Work with Willis Towers Watson to develop peer comparator group(s) and market pricing recommendations to assess how faculty are paid relative to the market.

Phase 2 (Spring 2025): Develop market pricing strategy for each school and develop implementation plan to address resulting salary gaps.

Phase 3 (Fall 2024 – Spring 2025): Create and socialize university-wide guiding principles for faculty compensation.