For the first time in eight years, the increase in faculty salaries at universities and colleges across the country did not keep up with the rate of inflation, according to the Annual Report on the Economic Status of the Profession for 2004-05 released Monday by The American Association of University Professors.
Although the average salary increase was greater than that seen in 2003-2004, this year's 2.8 percent increase still is less than the 3.3 percent rate of inflation reported between December 2003 and December 2004.
The report also found that faculty members at public institutions, while receiving an average salary less than that of their peers at private institutions, saw a greater percentage increase in their salaries than did faculty members at private institutions.
University spokesperson Carol Wood said the Board of Visitors identified compensation as one of the key issues facing the University two years ago.
"At that time, they launched a plan to increase compensation levels among all University employees, including bringing faculty salaries up to nationally competitive levels," Wood said.
Colette Sheehy, vice president for management and budget, said the University went through a period of two or three years at the beginning of the administration of Gov. Mark Warner when there was no increase in faculty salaries due to the recession and budget cuts. Consequently, all Virginia institutions fell far behind their peer groups defined by the State Council of Higher Education for Virginia regarding salary increases.
The University now is in the second year of its four-year plan to return the average University faculty salary back to levels not seen since the state budget cuts began after the 1989-1990 academic year.
In order to achieve this objective, the University itself supplements the annual faculty salary increases appropriated by the Commonwealth.
"As a result of these supplemental increases, U.Va. has jumped from number 30 to number 23 in faculty salaries among its national peer schools in the American Association for Universities rankings," Wood said. "The Board passed a resolution last May, targeting an AAU ranking between 15th and 19th by 2006-2007."
Sheehy also said next year, a 0.5 percent increase in faculty salaries will be recommended to the University's budget to complement the 5 percent increase appropriated by the Commonwealth. This will allow the University to continue on its trajectory to reach its goal, and it also will play into the General Assembly's goal that Commonwealth institutions return to the 60th percentile for faculty salary increases.
"I think we're making good progress," Sheehy said. "We have a goal in mind and a timeline to get there."
Wood said there is a strong commitment from the Board to be competitive among peer institutions, and progress is being made.
"The University intends to keep and recruit top notch faculty and staff, and it is committing the resources to do that," Wood said.
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