Common use of Aggregate Base Salary of Faculty Clause in Contracts

Aggregate Base Salary of Faculty. The aggregate base salary of Faculty is defined as the total of the base salaries of those Faculty who are members of the bargaining unit (this includes Faculty in active status, Faculty on paid and unpaid Leave status, and interim Chairs/Directors). Example: On May 1st 2007, there are 700 Faculty (bargaining unit) members with an average monthly salary of $7,000.00 per Faculty member. The aggregate base salary of Faculty on this date is $4,900,000. The raise for fiscal year 2008 is 3%. Therefore, there will be $147,000 available to be distributed for general salary adjustments to the base salaries of those Faculty members who were employed during the 2007 fiscal year and who are still on the active payroll as of July 1, 2007. In this year, the raise will be distributed as 34% for merit and 66% across the board. Therefore, the $147,000 will be distributed as $49,980 for merit and $97,020 across-the-board. For example, if the $147,000.00 is 3.1% of the aggregate base salary of Faculty members who were employed during the 2007 fiscal year and who are still on the active payroll as of July 1, 2007, then each of these Faculty members will receive an increase to his/her monthly base salary of 2.046% (66% of 3.1%). In addition, each department will receive an allocation for merit increases equal to 1.054% (34% of 3.1%) of the aggregate base salaries of Faculty who were employed in that department during the 2007 fiscal year and who are still on the active payroll as of July 1, 2007.

Aggregate Base Salary of Faculty. The aggregate base salary of Faculty is defined as the total of the base salaries of those Faculty who are members of the bargaining unit (this includes Faculty in active status, Faculty on paid and unpaid Leave leave status, and interim Chairs/Directors). Example: On May 1st 2007, there are 700 Faculty (bargaining unit) members with an average monthly salary of $7,000.00 per Faculty member. The aggregate base salary of Faculty on this date is $4,900,000. The raise for fiscal year 2008 is 3%. Therefore, there will be $147,000 available to be distributed for general salary adjustments to the base salaries of those Faculty members who were employed during the 2007 fiscal year and who are still on the active payroll as of July 1, 2007. In this year, the raise will be distributed as 34% for merit and 66% across the board. Therefore, the $147,000 will be distributed as $49,980 for merit and $97,020 across-the-board. For example, if the $147,000.00 is 3.1% of the aggregate base salary of Faculty members who were employed during the 2007 fiscal year and who are still on the active payroll as of July 1, 2007, then each of these Faculty members will receive an increase to his/her monthly base salary of 2.046% (66% of 3.1%). In addition, each department will receive an allocation for merit increases equal to 1.054% (34% of 3.1%) of the aggregate base salaries of Faculty who were employed in that department during the 2007 fiscal year and who are still on the active payroll as of July 1, 2007.