Faculty Compensation Study
In 2021, the University of Louisville launched a multi-year Total Rewards Study to support strategic planning, standardize compensation and promote career growth.
Sidebar
Objective
The initial purpose of the Faculty Compensation Study is to review and compare UofL’s faculty salaries by rank and discipline to the market. Upon completion of the faculty market assessment, communication regarding next steps of the Faculty Compensation Study will be provided.
Study goals
- Review UofL Faculty’s salaries by rank and discipline.
- Complete Faculty market assessment.
About the Faculty Compensation Study
In 2021, Human Resources, Faculty Affairs and Segal, a national firm, were tasked with leading a Total Rewards Study. Total rewards include, but are not limited to monetary compensation, medical, life, dental and vision insurance, 403(b) retirement savings plans, tuition remission, wellness programs and employee assistance programs.
One core component of the Total Rewards Study is the Faculty Compensation Study. The purpose of the Faculty Compensation Study is to review and compare UofL’s Faculty salaries by rank and discipline to the market. Upon completion of the faculty market assessment, Segal will provide assessment results to administration and committee representatives. Administration will then develop a plan on incorporating Segal’s Faculty assessment findings.
We understand the emotional and personal aspects surrounding this topic and believe it deserves the utmost respect and consideration as we continue our initial step towards creating a market-competitive compensation and pay structure, building the foundation to provide opportunities for career growth and advancement. We hope you will continue to follow this university-wide initiative and provide meaningful dialogue as we continue to pursue a structure that optimizes our employee rewards programs and acknowledges the hard work and dedication that you bring to your position at the University of Louisville.
Timeline and updates
1
Methodology and approach
- Development of market assessment approach
- Methodology presentations to campus groups
- Data collection and preliminary validation of data
October 2023 - February 2024
2
Final data validation
- Final UofL data validation with HR, Office of Faculty Affairs and academic unit finance/business officers
- Individual faculty notifications of compensation
January - April 2024
3
Salary market assessment
- Base salary market assessment against approved peer group
- Pay equity study
April - June 2024
4
Implementation strategy
- Preliminary cost estimates
- Multi-stage, multi-year implementation strategy development begins
May - July 2024
Results
UofL Faculty Compensation Study Overall Results and Initial Implementation Strategy
Aug. 7, 2024, presentation given by Executive Vice President and University Provost Gerry Bradley to university faculty.