The Board of Regents today authorized a 2 percent salary pool, enabling merit increases for many faculty, officers and exempt professionals in the 2012-13 fiscal year.
University leadership had proposed a 3 percent salary pool during the meeting on the CU Denver campus; after discussion by the board, it instead moved forward with the more modest plan.
“We need to support our staff,” said Board Chair Kyle Hybl. “At the same time, I’m not entirely comfortable with the (proposed) 3 percent rate, given that we remain in tough economic times.”
Said Regent Joe Neguse, “The professors are what makes this university so great, and they should be rewarded for their good work.” He said he appreciated the university administration’s “modest proposal,” but that he was conflicted about the 3 percent proposal.
Hybl moved to change the proposed salary pool from 3 percent to 2 percent, and that the difference be applied to a reduction of proposed tuition rates.
That suggestion passed on a 6-3 vote, with regents Tilman “Tillie” Bishop, Michael Carrigan and Stephen Ludwig dissenting. The board gave unanimous approval to the 2 percent salary pool as amended.
The approved salary motion also included an amendment proposed by Carrigan, who said he wanted each campus and the system to have the authority to exceed the salary increase limit “in extraordinary circumstances.” The example he gave was “a rock star faculty member” who might otherwise leave CU.
Exempt professionals earning more than $175,000 are not eligible for any increase under the plan. Increases for exempt professionals earning between $100,000 and $175,000 must not be more than $2,000. Exempt professionals earning less than $100,000 are eligible for raises from the 2 percent pool, which are determined on a merit basis.