10.3 Method of Computing Faculty Raises
Total Merit Pool and School Allocation:
(1) Merit Pool = Current base faculty salaries x % approved by legislature and any added by institution
e.g., $1,000,000 x 3% = $30,000
(2) Adjusted Merit Pool = Above amount less promotion increments (unless otherwise provided)
e.g., $30,000 - $3,000 = $27,000
(3) Average Merit Increment = Adjusted pool ÷ number of returning faculty and faculty on leave ÷ regular faculty on half-time appointment = 0.5)
e.g., $27,000 ÷ 27 = $1,000
(4) School Allocation = Returning and on-leave faculty x average merit increment
e.g., 10 x $1,000 = $10,000
1. The merit pool for the school does not include new hires or vacant positions. It is calculated on the current year's base, as of September 1. Promotion, equity, and merit increases are calculated separately on the same base salary.
2. Promotion increments are additional to merit and/or across-the-board increments. All increments are added separately to the current 9-month's base salary.