What Has Happened to your Compensation?
We all know that the faculty as a group and each and every one of us has taken an economic hit since Greg Dell'Omo became President. While the specific impact on any individual will vary, we think it is essential that we realize the magnitude of the economic damage done to the faculty over that time. There are any number of ways to measure that impact so we in this email look at the loss in earning for an average faculty member over that time period.
If in 2013, your base salary was $100,000 (the approximate average base salary of the bargaining unit in 2013) excluding any promotion increases:
* your base salary today is still $100,000
* inflation has effectively reduced that to $89,000
* you have earned almost $30,000 less than you would have if you had received raises that kept up with the low rate of inflation.
* if you had received the average increases for continuing faculty across the country your salary today would be $121,000.
* you have spent an additional $8,400 on medical insurance premiums.
* you have spent an additional $7,500 to maintain the same level of total contributions to your retirement account.
Conclusion: you are $45,000 poorer.
We are committed to not only stopping this erosion of our financial health but reversing it.
Your AAUP Negotiating Team