News
By Caroline Freeman
|
April 20, 2005
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.