Approved by Trustees May 2012
New Peer Group: the University Salary Comparison Group (USCG)
Earlier this year, we developed a new University Salary Comparison Group (USCG) that we believe offers fair peer assessment for benchmarking. The USCG includes schools are co-ed, four-year, liberal arts institutions with similar levels of resources to ensure the group will be made of schools that are most like us in mission and student body. A list of the peer colleges in the USCG is at the end of this memo. We will use the USCG through 2015-2016 for increases that take effect January 1, 2016. At the end of four years, the peer group may be revised according to the same parameters, allowing individual schools to be added and subtracted based on those schools’ individual fortunes.
New date for salary increases
Salary increases will take place effective January 1 of each year.
Salaries will be the first charge on the budget after the legally binding calls on the budget. If, however, either global economic circumstances or an inability to meet our institutional revenue goals in a way that is enduring beyond one fiscal year or causes unacceptable consequences to the University’s well-being, we reserve the right to change our plans and will communicate that decision promptly. There will be no change in the structure of the compensation package in terms of the percentage of contributions toward retirement or health insurance over the next four years.
Plans for 2012-2013
After gathering data of the average salary increase in 2011-2012 for administrators in the USCG, we determined 2.1%, as our pool for St. Lawrence administrators, technicians and executive secretaries. For salary increases effective January 1, 2013, continuing administrators, technicians and executive secretaries can expect at least a 2.1% increase on your January 1, 2012 annualized salary.
For increases that take effect January 1, 2013 and January 1, 2014, we will conduct a positionby-position examination of salary equity using the University Salary Comparison Group as our context. We will work to bring those salaries determined to be inequitable as close to equity as we can, taking the next two years for this process. In December, all administrators and technicians will receive a letter confirming their 2013 annualized salary, whether with the 2.1% increase or a different increase because the salary was determined to be inequitable.
We also will take the next year to examine best practices, then develop, train and begin implementation of a simplified, annual performance evaluation process. After we have such a system in place for all administrators, we will introduce a merit component to our salary planning, possibly for salaries that take effect in January 2014.
University Salary Comparison Group
College of the Holy Cross
College of Wooster
Franklin & Marshall
Hobart and William Smith Colleges
Wesleyan Wheaton (MA )