Guiding Statements for Compensation at Wilmington College
- It is essential that Wilmington College attract, recruit and retain highly qualified individuals within each area of the College; thus, compensation must be competitive with external labor markets.
- In addition to relevant market analysis, compensation will be monitored to ensure consistency with Wilmington College’s strategic plan, core values, priorities and commitment to equity.
- Wilmington College commits to internal equity and will consistently monitor compensation for compliance. The College also pledges to ensure that there is no discrimination on the basis of race, gender, sexual orientation or any other basis protected by the Wilmington College Statement of Non-Discrimination.
- Wilmington College’s compensation policy will remain consistent with the judicious expenditure of college funds entrusted to us by students, their parents, and donors, and with fiscal responsibility.
- Wilmington College’s compensation policy and procedures will ensure transparency and accountability within the constraints of principles of compensation confidentiality.
Salary Administration for Faculty
Salary administration for academic faculty shall be developed in accordance with the following guidelines:
- On or before December 15 of each year, the Academic Dean/Dean of the Faculty/Dean of Faculty shall make available to the Faculty Council a summary of full-time ranked faculty salaries for the current academic year; at minimum, this summary shall identify the range, median and mean salary of faculty at each rank.
- The Board of Trustees establishes the percentage of the College budget to be used for salaries. The Board bases its decision on the recommendation of the College President, who consults with the Budget and Planning Committee in developing a proposal for salary adjustments and/or increases.
- A method for distributing the salary pool dollars (based on the Board's established percentage) shall be developed by the Academic Dean/Dean of the Faculty in consultation with the Faculty Council; it shall take into consideration across-the-board increases, promotion increases, and equity increases. This method of distribution shall be established and recommended once the salary pool is approved by the Board of Trustees in its April meeting. The President makes the final decision on salary distribution.
- The Academic Dean/Dean of Faculty recommends to the President initial salary of appointees; the President gives final approval. Decisions about starting salaries will be made based on internal equity and market considerations
Goals for salaries for full-time academic faculty shall be established by the Academic Dean/Dean of Faculty in consultation with the Faculty Council. The College’s goal for faculty salaries shall be set at or above 100% of the corresponding group mean of academic ranks in our set of normative peer institutions. If our normative peer group changes, the goal will be to achieve at or above 100% of the corresponding group mean of academic ranks in our new set of peer institutions.
Salary Adjustment for Promotion in Rank
In addition to any annual salary increases, faculty who are promoted in rank shall receive an increase in their base salary beginning the year in which the promotion takes effect. To ensure promotional equity, this increase shall be $2000 when promoted to associate professor and $2500 when promoted to professor.
Increases for Completion of the Doctoral Degree
Full-time ranked faculty shall receive a one-time bonus of $1,000 upon completion of the initial doctoral degree in a field directly related to their area of responsibility. The doctorate must be an earned doctorate from an accredited institution, or an acceptable foreign equivalent.
Equity Adjustments
For each faculty rank, a salary range and a mid-point will be determined using salary data provided by the Office of Human Resources. Each year, the Academic Dean/Dean of Faculty will monitor faculty salaries to determine whether internal inequities exist where faculty salaries are substantially below those of faculty with similar rank, experience, and qualifications. If inequities are found to exist, equity increases will be made in order to bring the salaries of the affected faculty members into the salary range for that rank and within a specified amount of the median for that rank. Assuming comparable experience, qualifications and time in rank, at the Assistant Professor rank, salaries should be within $2000 of the median of the rank after 5 years in rank and thereafter. At the Associate Professor rank, salaries should be within $3000 of the median of the rank after 5 years in rank and thereafter. At the Professor rank, salaries should be within $4000 of the median of the rank after 5 years in rank and thereafter.
Review
The administration of faculty salaries will be reviewed annually for progress towards goals. Additionally, monetary amounts for salary adjustment, bonuses, and equity will be reviewed at least every three years.