The Board of Trustees has approved a $2.7-million salary pool for discretionary merit-based increases for 2018-19.
“Delivering a world-class and transformative Catholic, Jesuit education requires world-class faculty and staff who bring skill, talent and a commitment to our mission,” President Michael R. Lovell said. “Our people are, hands down, our greatest asset, so it’s important that we invest in them despite the very real economic challenges we face in higher education.”
Merit-based salary increases are given to high-performing employees and vary by individual and position, according to President Lovell. He said deans and vice presidents have discretion in allocating their respective salary pools by unit, based on annual performance reviews and market and equity adjustments.
In addition to the salary pool, the university makes contributions to fringe benefits, including health, dental and vision insurance, and retirement contributions. Chief Financial Officer Joel Pogodzinski noted that the university pays 80 percent of health insurance premiums and contributes 8 percent of salary to a TIAA-CREF 403(b) retirement account for qualified employees who voluntarily contribute 5 percent of their gross salary to the account.