The first chart below illustrates the "trend" of University actual cash compensation compared to the data collected during this analysis. For jobs below roughly $60,000 in market value, the University pays at the market median (50th percentile) total cash. For jobs above $60,000 in market value, the University pays below the market median and progressively below as the jobs increase in market value.
Days of paid vacation compared to northwest organizations:
|1 Year||5 Years||10 Years||15 Years||25 Years||# Paid Holidays|
Days of paid vacation compared to higher education institutions:
|1 Year||5 Years||8 Years||10 Years||15 Years||25 Years||# Paid Holidays|
Short-term disability compared to higher education institutions:
|% of Sal||% Employer|
To maintain competitive compensation, organizations budget a certain percent of payroll each year for pay adjustments. In the education sector for 2007, pay adjustments for exempt employees and executives were 3.5% and 3.6% respectively. Increase budgets for 2008 are 3.7% and 3.6% respectively.
In general industry, 2007 pay increase budgets were 3.9% for exempt employees and 4.1% for executives. Projections for 2008 are 3.9% for exempt positions and 4.0% for executive positions.
Base salary adjustments have remained relatively stable for more than ten years. One significant factor contributing to this stability has been the increased use of variable compensation (i.e. incentives and bonuses). The majority of companies that the University competes with for labor talent offer variable pay opportunities of one kind or another (approximately 70%+). Of the universities responding to the custom survey, six reported providing an incentive to at least one position.
Long-term incentives, most typically in the form of stock options, are common at the senior management level in most private sector companies.
Relocation packages are commonly used when the cost of living and the cost of labor in an area like Puget Sound is significantly higher than the national average.
2007 Salary Survey