Compensation Principles1. UST will deliver market-competitive total compensation designed to attract and retain competent employees. Our base pay will be targeted at the average of market pay for similar jobs within our defined competitive market.
2. Our market definition for various jobs includes university and non-university markets and will vary from local, regional or national comparisons, depending on the job.
3. Multiple salary surveys will be used to compare our jobs to the market.
4. UST Managers will be involved in reviewing survey matches, recommending pay delivery and managing pay delivery within budgeted allocations.
5. We deliver pay based on market position, internal equity, evaluation of the job, skills of a person, individual performance and contributions to department and UST goals.
6. Affordability will be factored into our compensation decisions.
7. Jobs within the organization will be formally described, reviewed and assigned an appropriate pay grade and range.
8. Our compensation practices will reinforce a more performance-driven culture and our aspirations to become a more prominent university.