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ERIC Number: ED500281
Record Type: Non-Journal
Publication Date: 2006-Oct-17
Pages: 12
Abstractor: ERIC
Reference Count: N/A
ISBN: N/A
ISSN: N/A
Faculty Study: New Mexico Higher Education Institutions Compared with Regional Peers. Gap Analysis
McClure, Beverlee J.
New Mexico Higher Education Department
This study addresses concerns regarding compensation disparities between New Mexico institutions and their peers. A recommended adjustment schedule with fiscal requirements is included, but not specific recommendations for faculty at individual institutions. The average salaries for New Mexico institutions were compared with regional peers to identify gaps in faculty compensation. The differences between each New Mexico institution and its peer average is in turn weighted by the number of New Mexico faculty in each rank category to estimate the funds required to bring those salaries to approximate the average of their peers. These institution specific amounts are then summed to provide an estimated minimum allocation required to accomplish this goal. This amount is spread out over a four year implementation schedule, which includes expected inflation in peer salaries, in order to meet the peer average in a reasonable time with reasonable increases in salary expenditures. Community college salaries were compared to the average for all New Mexico community colleges, which is dominated by Central New Mexico College. Those below the state average were identified as having a salary gap. The case of Northern New Mexico College is unique in that the institution is in transition as it expands its mission to include bachelor's and graduate degrees. A number of bachelors and graduate programs are proposed which will require additional faculty with terminal degrees: those individuals are included separately with the assumption they will be hired at the peer average for assistant professors at other comprehensive universities. The Higher Education Department estimates correcting the current difference between salaries at New Mexico institutions and their peer averages will require an estimated $25,218,000 in additional funding. Assuming this will occur over 4 years requires additional funds to off set an anticipated salary inflation of 3.5%, bringing the amount to approximately $28,750,000. This will require an annual allocation of $7,200,000 to allow the institutions to approximate the average salaries of their peers. All valves assume the inclusion of benefits in the calculations. (Contains 15 tables.) [This document was published by the New Mexico Higher Education Department for the Legislative Education Study Committee.]
New Mexico Higher Education Department. 1608 Cerrillos Road, Santa Fe, NM 87505. Tel: 505-476-6500; Fax: 505-476-6511; Web site: http://www.hed.state.nm.us
Publication Type: Numerical/Quantitative Data; Reports - Descriptive
Education Level: Higher Education; Two Year Colleges
Audience: N/A
Language: English
Sponsor: N/A
Authoring Institution: N/A
Identifiers - Location: New Mexico