Faculty Compensation Review

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.

Phase 1 (May 2024 – ~December 2024): data collection, selection of peer comparator groups, and benchmarking analysis of faculty salaries against composite competitive market values

Phase 2 (Spring 2025): development of a multi-phase implementation plan for each school, which is likely to include refinement of the recommendations to account for faculty productivity and school or department-based factors

Phase 3 (Fall 2024 – Spring 2025): development and socialization of university-wide compensation guidelines and best practices