There are a few things that make this easier to understand and be okay with. First, everyone's salary will be frozen, meaning both faculty and staff. The only people who will get increases are union employees (who have a contract) and people who get promoted, which is completely fair. As a community we are in this together. Second, the senior administration has been very open about the current situation. This is the second all staff meeting we have had about this issue and we have received multiple updates by email. Finally, we are a college and our mission is to educate out students. Part of that means meeting our financial aid needs, which in this economy will mostly likely go up. We are also prioritizing our students by initiating the lowest tuition increase in over 10 years. We are putting our students first and aren't the students why we chose to work in higher education?
I can't say that I'm not bummed. I couldn't post about it right away because I needed time to process what this will mean for me financially. I'm moving in June so there is a chance my costs could go down, but there is also a chance my costs will go up. I'm hoping that the trend of negotiating rents will still be around when I start looking for a place.
There are also some benefits about my job that make up for this salary freeze. My employer contributes 10% of my salary to my 403b no matter what. This means I'm saving 17% of my salary towards retirement every month! I would never be able to do that on my own. (I'm a little scared that this will be the next thing to be cut). I also have a tuition benefit and I'm planning on going back to school (fingers crossed I get in). If I am admitted I will have to pay maybe $500 out of pocket each semester. That's it! This is a huge benefit, even with the additional tax burden.
So while I would love to receive a salary increase in July, overall I'm happy for what I still have. And most importantly I still have a job.
7 comments:
Your college sounds pretty dedicated to its people. That's awesome. As is your attitude (oh to only have to pay $500 per semester in tuition! THAT's even more awesome).
Good thoughts. You have some awesome benefits.
And I'm in the same place - my company is doing a salary freeze (except for promotions) so no extra increase come April.
But it is to be expected! At least we still have our jobs. :)
Hi there! I'm a new reader. I like your way of looking at things.
I'm facing the same possibility.It's such a blessing when the institution keeps you updated regarding such matters.At least you can set your goals accordingly.
Speaking of goals,those goal bars you have on the dashboard are really cool. Can you please tell me from where I can get it?
I too work for a university (state owned), we're not getting raises this year either. lame.
I wish the university here was like yours. Their raising tutition by 25% starting Fall 2009. I'm lucky I am considered a resident but still.
My father works for a state university, salary freezes and pay cuts are pretty common. I'm sad that it has happened to you but you have a wonderful attitude. I think a lot of people are just happy to be working.
Ayasha send me an email at alwaystheplanner at gmail dot com and I'll send you the code.
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