W&M Faculty Salaries Board of Visitors April 2018 Faculty - PowerPoint PPT Presentation

W&M Faculty Salaries Board of Visitors April 2018

Faculty Salaries Under the Promise 2

W&M Faculty Salary Increases FY14-FY18 State State Planned Actual Authorization Funded Constraints − FY14 6% 6% 3% 0.75% 5.7% drop in FY15 6% 5.5% 0% 0% state support 4.5% statutory cap; FY16 6% 4.5% 2% 0.5% 2.5% from reallocation 3% statutory cap; FY17 3% 0% 0% 6% additional budget reductions FY18 3% 2% 0.5% 6% State budget reductions Total 22% 7% 1.75% 30% 3

Increases in Faculty Base Salary Indexed to FY 2007 W&M UVA VT State Actions 1.450 1.400 1.368 1.350 1.325 1.300 Indexed Value (FY 2007 = 1.00) 1.250 1.232 1.200 1.150 1.114 1.100 1.050 1.000 0.950 FY 2007 FY 2008 FY 2009 FY 2010 FY 2011 FY 2012* FY 2013 FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 *VRS participants received a 5% raise in FY 2012 offset by a required 5% VRS contribution. 4

W&M Avg. Faculty Salaries and Gap to the SCHEV 60th Percentile Goal, FY09-FY17 W&M Difference/Gap to 60th Percentile (%) $120,000 25.0% 22.7% 21.3% $100,000 20.7% 20.0% 19.2% 18.4% 18.0% 17.7% Percent Gap to SCHEV 60th Pcntl. Goal $80,000 15.7% 15.3% 15.0% Avg. Faculty Salary $60,000 $99,594 $96,741 $96,880 10.0% $92,277 $90,452 $88,800 $88,587 $86,204 $85,638 $40,000 5.0% $20,000 $0 0.0% FY2009 FY2010 FY2011 FY2012 FY2013 FY2014 FY2015 FY2016 FY2017 5

What happened? • As the composition of W&M faculty has changed to incorporate more full-time NTE faculty, this has impacted average faculty salary. • Fluctuation within the pool (retirements, promotions from one rank to another, etc.) create some variation from year-to-year. • The Promise has done a lot, but not as much as originally hoped. 6

Composition of Full-Time Instructional Faculty Included in Average Salary Full Assoc Asst Instr/Lect 100% 7.6% 9.0% 10.2% 10.8% 12.6% 92.4% 91.0% 90% 89.8% 89.2% 87.4% 80% 70% 60% 50% 40% 30% 20% 10% 0% FY2013 FY2014 FY2015 FY2016 FY2017 7

W&M Avg. Faculty Salaries by Rank, FY09-FY17 Full Associate Assistant Instructor Lecturers $140,000 $129,048 $120,000 $100,000 $94,800 $80,000 $70,843 $60,893 $60,000 $40,000 $20,000 $0 2009 2010 2011 2012 2013 2014 2015 2016 2017 8

Faculty Salary Distribution FY13-FY18 9

Continuing Faculty Salary Growth, FY13 A&S Law MSOB SOE VIMS 80% 70% 60% Cum. Pct. Increase 50% 40% 30% 20% 10% 0% $0 $50,000 $100,000 $150,000 $200,000 $250,000 $300,000 Salary 10

Continuing Faculty Salary Growth, FY14 A&S Law MSOB SOE VIMS 80% 70% 60% Cum. Pct. Increase 50% 40% 30% 20% 10% 0% $0 $50,000 $100,000 $150,000 $200,000 $250,000 $300,000 Salary 11

Continuing Faculty Salary Growth, FY15 A&S Law MSOB SOE VIMS 80% 70% 60% Cum. Pct. Increase 50% 40% 30% 20% 10% 0% $0 $50,000 $100,000 $150,000 $200,000 $250,000 $300,000 Salary 12

Continuing Faculty Salary Growth, FY16 A&S Law MSOB SOE VIMS 80% 70% 60% Cum. Pct. Increase 50% 40% 30% 20% 10% 0% $0 $50,000 $100,000 $150,000 $200,000 $250,000 $300,000 Salary 13

Continuing Faculty Salary Growth, FY17 A&S Law MSOB SOE VIMS 80% 70% 60% Cum. Pct. Increase 50% 40% 30% 20% 10% 0% $0 $50,000 $100,000 $150,000 $200,000 $250,000 $300,000 Salary 14

Continuing Faculty Salary Growth, FY18 A&S Law MSOB SOE VIMS 80% 70% 60% Cum. Pct. Increase 50% 40% 30% 20% 10% 0% $0 $50,000 $100,000 $150,000 $200,000 $250,000 $300,000 Salary 15

~Backup Slides~ 16

W&M Avg. Faculty Salaries and Gap to the SCHEV 60th Percentile Goal, FY09-FY17 W&M 60th Pctl.-Private 60th Pctl.-Public 60th Pctl.-Combined $140,000 $122,816 $121,361 $118,094 $120,000 $114,460 $117,548 $117,252 $110,293 $109,589 $107,387 $111,956 $110,014 $103,032 $102,197 $109,588 $107,645 $100,000 $104,081 $104,080 $103,496 $103,194 $102,011 $100,274 $99,912 Avg. Faculty Salary $80,000 $60,000 $99,594 $96,741 $96,880 $92,277 $90,452 $88,800 $88,587 $86,204 $85,638 $40,000 $20,000 $0 FY2009 FY2010 FY2011 FY2012 FY2013 FY2014 FY2015 FY2016 FY2017 17

Avg. Faculty Salaries Among Research Universities, FY09-FY16 W&M R2 (Higher Research)-60th pctl. R1 (Highest Research)-60th pctl. USNWR Top 100-60th pctl. SCHEV-60th pctl. $117,252 $120,000 $111,289 $100,000 $105,903 $86,877 Avg. Faculty Salary $80,000 $60,000 $99,594 $96,741 $92,277 $90,452 $88,800 $88,587 $86,204 $85,638 $40,000 $20,000 $0 FY2009 FY2010 FY2011 FY2012 FY2013 FY2014 FY2015 FY2016 18

Percentage Increase in Avg. Faculty Salary, FY13 to FY16 16% 14.7% 13.6% 14% 12.9% Increase in Avg. Faculty Salary, FY13 to FY16 12.4% 12% 10% 8% 6% 4% 2% 0% Note: Yeshiva U. excluded due to apparent data error (45% increase from FY15 to FY 16). 19

Percentile Rank among SCHEV Peer Group of W&M Avg. Faculty Salaries by Rank, FY09-FY17 Full Professors Associate Professors Assistant Professors 0.350 0.300 0.250 Percentile Rank Among SCHEV Peers 0.200 0.150 0.100 0.050 0.000 2009 2010 2011 2012 2013 2014 2015 2016 2017 20