Faculty Classification and Compensation Study - Final Implementation
Overview
In 2021, as an initiative within MGA’s Strategic Plan a faculty salary study was launched. The Faculty Classification and Compensation Study concluded that on average faculty salaries at MGA lagged behind faculty at other similar institutions. As a result of the study, a phased implementation was developed to include three phases.
Implementation Plan
Salary Study Implementation Plan
The total fiscal recurring costs of the salary adjustments is $1.85M. A phased approach is necessary due to the enrollment decline in Fall 2021, which has and will continue to impact our budget through 2024.
- Phase one occurred on July 1, 2022 (FY23) for 12-month administrative faculty and August 1, 2022 for 10-month faculty. Phase one implementation was 50% of the total adjustment, up to a max of $12,500 per individual.
- Phase two implemented on January 1, 2024 (FY24), covering an additional 25% of the total salary adjustment.
- The third and final phase will occur on July 1, 2024 (FY25), covering the final 25% of the total implementation plan.
We are pleased to be able to complete the implementation on schedule. In addition, a careful review of the bands has resulted in a further adjustment to the faculty pay table minimums effective July 1, 2024
New Faculty Pay Tables
The new Faculty Pay Tables can be found here, or by contacting the Office of Academic Affairs or Human Resources.
Faculty Contracts and Letters
FY25 Faculty Contracts
FY25 faculty contracts will be distributed by Thursday, May 23, 2024. Faculty Contract Delivery allows contracts to be generated, sent and digitally signed. Faculty members will have until July 12, 2024 to digitally sign the FY2025 contract. Your contract will not be mailed to your home address.