Body
Unit Policy
Title
Kenan-Flagler Business School: Faculty Salary Policy
Introduction
Purpose
The purpose of this policy is to describe the procedures and processes that Kenan-Flagler Business School uses to establish faculty salaries.
Scope
This policy applies to all faculty at the University of North Carolina at Chapel Hill's Kenan-Flagler Business School.
Policy
Initial Salary
For a new hire faculty member the initial salary is based on the individual's qualifications (e.g. educational preparation, productivity and accomplishments in research, teaching, and service, professional experience, and national or international standing), the rank at initial hiring (e.g., holding a named professorship), administrative load, teaching load, equity considerations within the School, market conditions, and other relevant factors. The Senior Associate Dean leads all salary negotiation efforts for the school.
Annual Reviews
Kenan-Flagler Business School assesses all salaries during the annual review process, which occurs in May and June of each year. The school uses a standard format for annual reporting of performance on areas of research, teaching and service. Materials are submitted to the Senior Associate Dean's Office and include: a vita and a summary of his/her activities over the last two years; a list of courses s/he will teach during the upcoming academic year, and specific research and teaching goals for the next year. The Senior Associate Dean meets with area chairs in an overview meeting to review faculty performance in their area. The Senior Associate Dean and the area chair meet with each faculty member to discuss the assessment of his/her performance. The Senior Associate Dean then prepares a written evaluation and sends to the area chairs for input. Once finalized, the written evaluation is sent out to each faculty member.
Salary Adjustments
An annual performance assessment is a key factor in salary setting considerations. Other factors include, but are not limited to, the following: retention concerns, changes in either teaching or administrative responsibilities, salary compression/area equity, promotions, and market changes at peer institutions. The school uses AACSB survey data as a source of market data for comparative salary information at peer institutions. These survey data include the distribution of salaries by academic area and rank, and can be obtained for groups of business schools that also differ in ranking. These data change each year.
Contingent on the availability of funds and based on the applicable salary setting guidelines/requirements for that year, the Senior Associate Dean develops salary recommendations considering all factors specified above, along with input from the Area Chairs. The Senior Associate Dean presents these recommendations to the Dean, and works with the Associate Dean of Business and Operations to implement. The School follows the instructions, limitations and conditions for salary adjustments as determined by the North Carolina General Assembly, UNC Board of Governors, as well as the Offices of the President, Chancellor, and Provost.
Each faculty member receives their new salary amount in writing.
Related Requirements
External Regulations (if applicable)
- Is this Policy connected to any Policies, Laws (federal, state, local, regulations), and/or Accreditation requirements?
- Are there any related UNC System-wide Policies?
- Is this Policy connected to any UNC-Chapel Hill Policies, Procedures, or Standards?
- Are there any other resources or materials readers of this Policy might likely refer to or need to follow or understand this Policy?
Unit Policies, Standards, and Procedures (if applicable)
- Is this Policy connected to any other Unit Policies, Procedures, or Standards?
Contact Information
Any reader of this Policy needs to be able to contact someone with questions about this Policy or to provide feedback. The Policy can name:
- A particular individual (i.e. John Doe),
- A specific title (i.e. Associate Director of Ethics and Policy), and/or
- A general contact (i.e. policy@unc.edu).
That person will be the point of contact for all questions relating to the Policy in general.
If there are individuals/groups that have particularized knowledge of subsections of this Policy, those people/groups may be listed under “Other Contacts” to provide additional information to the reader.
Primary Contact
Name:
Telephone:
Email:
Other Contacts (if applicable)
Subject:
Name:
Telephone:
Email:
Publication Details
- Who is the “Issuing Officer”? ___________
This is the person with the authority to issue this Policy on behalf of the University – they must be a Dean/Vice Chancellor/Unit Head or that person’s designee.
- What is the “Effective Date”? ___________
This is when the Policy goes into effect.
- What is the “Next Review Date”? ___________
The Policy should be reviewed on a regular basis to make sure all content, links, etc. stay up-to-date. The default interval for review is one (1) calendar year but you may choose a date three (3) calendar years away for items that are less risky and/or less likely to change over time (for example, policies that rely on external regulations). You may also choose a date that fits best with your Unit’s annual schedule.