7.30 – Tenure Track and Tenured Faculty – Salary Adjustments

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Scope: NMSU System

Source: ARP Chapter 7 | HR - Compensation and Changes in Status

Rule Administrator:

Last Updated: 03/14/2017

Related

Cross-Reference:

Revision History:

2017 Recompilation, formerly Rule 5.25
03/14/17 Amendment approved by Chancellor
10/21/15  former Policy 5.25  replicated by Board of Regents as initial Rule 5.25
Prior Revision History not available.

A. Purpose


To establish a process for faculty compensation adjustments that address changes in cost of living, reward productivity and achievement, and correct market or equity disparities.

 

B. Contingency


Salary increases are contingent upon the availability of funding. The availability of funds for salary increases is typically determined each year after the Board of Regents has approved the annual budget and the New Mexico legislature has appropriated funds for the operation of the university.  All budgetary matters are subject to review and approval by the Board of Regents.

 

C. Types of Salary Adjustments


Salary increases may be in the form of either a one-time nonrecurring payment, or an adjustment to the annual base salary.  Examples of the different types of salary adjustments include:  cost of living increase (COLA), promotion between ranks, merit, equity, or market competition and related factors.

 

D. Eligibility for Salary Increase


Faculty eligible for salary adjustments are the tenured, tenure track and college track faculty. Faculty hired after December 31 of an academic year will not be eligible for a COLA or merit based salary adjustment until the first applicable pay period in the second subsequent fiscal year.

 

E. Effective Date of Salary Increase


Salary increases are awarded effective with the first applicable pay period in the next fiscal year, unless otherwise approved by the Senior Vice President of Administration and Finance and the Executive Vice President and Provost or Chancellor.

 

F. Disclosure of Information Relating to Faculty Salary Increases


Each year upon request, the executive vice president and provost will report to the faculty on how funds allocated for salary increases were distributed.