The Compensation Committee also formed a subcommittee to establish a group of comparable peer institutions for salary comparisons. This committee is still working, but they’ve produced an initial list of 46 comparison institutions which they are in the process of narrowing down. Here is their most recent formal report:
The data supporting this list is here:
In past compensation comparisons, such as what is listed in the Guilford Factbook, we have typically used either the peers and aspirants from our strategic plans or the more broad AAUP Category 2-B institutions. Obviously, choosing an accurate and appropriate set of comparison institutions is vital to this process.
The current version of the proposal uses example numbers from this list, calculated as an average for each faculty rank from all the comparison schools. These averages are then reduced by the $5,000 bonus for a terminal degree, because most ranks at most institutions require a terminal degree. At Guilford, we would add this $5,000 back in for faculty members who’ve completed the degree. Similarly, we may need to adjust these averages by the experience component, because we are adding that in on top of the base salary, although this is likely to have a significant effect only for faculty at the full professor rank. It may also be that we choose another method besides a simple mean as a target (e.g. a percentile or median or something similar).
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