Parameters for Compensation at The University of Vermont
UVM’s approach to compensation supports and advances our vision of being the nation’s premier small public research university, committed to providing an exceptional educational experience to our students and to fulfilling our research and service missions. All that we do, including compensating employees, must serve these purposes.
Recruiting and retaining outstanding faculty and staff and assessing and rewarding their performance are essential elements of our ability to succeed. UVM is committed to compensating employees competitively and equitably, always with attention to student affordability and within the scope of available resources.
UVM compensation is guided by these parameters:
1. Compensation should be determined based on the following factors:
- Performance, including advancement of University and unit vision, mission, and goals
- Market competitiveness
- Equity, including attention to basic needs
- Recognition of the role of collective bargaining for unionized employees
2. Compensation equity encompasses several important factors, including awarding salary and benefits in a lawful, non-discriminatory manner. It also includes acknowledgment of the costs of living in this geographic area and the institutional interest in assisting em-ployees, especially lower-paid employees, in meeting their basic needs. In doing so, we also recognize, and address where feasible, the differing impacts that required employee contributions to benefits have on employees at various compensation levels.
3. Compensation will be viewed as salary/wages plus benefits (total compensation).
In determining total compensation, the University recognizes that compensation rates for employees who are unionized are set through a collective bargaining process.
Reported to the Executive Committee of the Board of Trustees on January 8, 2007.
Last modified November 09 2014 01:03 PM