Policy Number: 
18

CONCORD UNIVERSITY BOARD OF GOVERNORS

Policy No. 18
Faculty Salaries
 
Section 1.        GENERAL
1.1.      Scope: This policy specifies a faculty salary policy.
1.2.      Authority: West Virginia Code 18B-8-3a
1.3.      Effective Date: August 30, 2005
Section 2.        PURPOSE
2.1.      The best available faculty are essential to the educational experience at Concord University.
2.2.      Faculty have invested considerable time and money to gain the credentials required to teach at Concord University.
2.3.      Attracting and retaining credentialed and committed faculty demands a policy which is internally fair and externally competitive with recognition for meritorious service.
Section 3.        FACULTY SALARIES
3.1.      Subject to available funding, all Concord faculty salaries will be set at a competitive level to attract, retain and reward high quality faculty.
3.2.      All faculty salaries will have an equity salary calculated according to the Concord University Faculty Pay Plan
3.2.1.   Equity will be based upon highest degree earned, academic rank, years of service
3.2.2.   All new faculty will be hired at their equity target salaries as determined by the faculty pay plan, except provided in 3.2.3. below.
3.2.3.   Prevailing market conditions may justify a maximum eighteen percent (18%) upward adjustment of initial salary.
3.3.      New faculty salary funds (salary increases for continuing faculty) will be distributed as follows:
3.3.1.   Merit awards. At least 51% of new funds will be dedicated to merit awards according in the following order of priority.
3.3.1.1.            Faculty promoted in academic rank will receive a 10% increase over the previous academic year salary.
3.3.1.2.            Faculty with a change in their highest degree earned status will receive a salary increase in accordance with the Faculty Pay Plan.
3.3.1.3.            The Remainder of merit funds will be awarded according to the Faculty Merit Plan (as revised by the Concord Faculty Senate in 2000). This plan awards increases for excellence in teaching, service, and professional activity.
3.3.2.   Remaining funds (49% or less of new funds) will be dedicated to achieving equity at Concord and between Concord and its peers in accordance with the Faculty Pay Plan.
3.4.      Individual faculty salaries will be recommended to the President of the University by the Vice President and Academic Dean.
3.5       Concord University faculty will remain effectively involved in the administration and future modification of the Faculty Salary Policy.
3.6       Funding of faculty raises
3.6.1.   Raises described in sections 3.3.1.1. and 3.3.1.2. shall be fully funded each year.
3.6.2.   Effective at the beginning of the 2006-2007 academic year, the average faculty salary at Concord shall be increased to and maintained at a level not lower than the average salary of faculty at the comparable institutions within the West Virginia State System.

Created on Jun 22, 2009. Report incorrect information.