Examples of salary increase calculations Sample Clauses

Examples of salary increase calculations for a part-time teacher with an increasing FTE status: FTE Status: 2020-2021: 0.5 FTE salary is $50,000 2021-2022: increased to 0.75 FTE with a contractual 3% raise over previous salary, or increased to 0.75 FTE with a contractual $2400 raise over previous salary (both calculations shown) Pro-rated Salary Calculation: Step 1. Establish teacher increase for 0.5 FTE Percentage: $50,000 x 1.03 = $51,500 Flat Dollar: $50,000 + (0.5 of $2,400) = $51,200 Step 2. Prorate to 0.75 FTE. Percentage: $51,500 x 1.5 = $77,250 Flat Dollar: $51,200 x 1.5 = $76,800 Note: The increases used above (i.e., 3% and $2400) are examples only, and will not actually be applied. Rather, the increases identified in Article IX, Section A of this Agreement will be operative.
AutoNDA by SimpleDocs

Related to Examples of salary increase calculations

  • Submission of Salary Increases Recommendations for salary increases must be made to be effective on the first day of the month and must be submitted prior to the proposed effective date. However, retroactive six (6) month and annual salary increases to correct errors or oversights and retroactive payments resulting from grievance settlements shall be authorized. The proposed effective date for retroactive six (6) month and annual salary increases must be the first day of the month no more than twelve (12) months prior to the time of submitting the correcting recommendation.

  • General Salary Increase 1. Effective with the start of the pay week commencing closest to September 1, 2013, employees shall be provided an across-the-board salary increase of one percent (1%). Salary schedules shall be increased accordingly.

  • Salary Increases During the period of employment as provided in Paragraph 1(b) hereof, the base salary of the Executive shall be reviewed no less frequently than annually by the Board or the Compensation Committee of the Board to determine whether or not the same should be increased in light of the duties and responsibilities of the Executive and the performance thereof, and if it is determined that an increase is merited, such increase shall be promptly put into effect and the base salary of the Executive as so increased shall constitute the base salary of the Executive for purposes of Paragraph 3(a).

  • Salary Increments The Employer, may grant an increment for meritorious service after an employee has served for a period of twelve (12) months following the first day of the month established in Article 35.07 or twelve (12) months following the date of a change in his rate of compensation as established in Articles 35.04, 35.05, or 35.06.

  • Salary Increase 46.01 Effective July 1, 2020 an increase equal to 1% will be added to the job rates and to the salaries of all employees. Effective July 1, 2021 an increase equal to 1% will be added to the job rates and to the salaries of all employees. Effective July 1, 2022 an increase equal to 1% will be added to the job rates and to the salaries of all employees.

  • Status of Salary Schedule The salary schedules are not to be construed as part of a teacher’s continuing contract. In the event a successor Agreement is not entered into prior to the expiration date of this Agreement, a teacher shall be compensated according to the previous year’s compensation until such time that a successor Agreement is executed.

  • Annual Increases On each anniversary of Employee's termination from employment, any remaining amounts to be paid during the next year pursuant to this Paragraph 9 shall be increased to an amount equal to one hundred ten percent (110%) of the amounts required to be paid by Employer hereunder under the provisions of this Paragraph 9 during the preceding year.

  • SUPPLEMENTAL SALARY SCHEDULE 12.01 Every effort shall be made by the Board to post supplemental positions in a timely manner each school year. Teachers in the bargaining unit may apply for the supplemental vacancy within ten (10) working days of each posting. If no qualified bargaining unit member applies for the supplemental position, the Board may fill the vacancy with individuals not in the bargaining unit.

  • Increment Date for Salary Grid Placement Upon achieving one (1) year of experience, an increment shall be awarded on the first of the month following the month in which the experience accumulation is earned.

  • SALARY STEP INCREASES a. Increases to steps above the entry step shall be based on performance and length of service. The employee must have earned the equivalent of at least twenty-six

Time is Money Join Law Insider Premium to draft better contracts faster.