Annual Pay Increases
Each year as a part of the budgeting process, the college designates a salary increase pool, to be distributed on July 1, the first day of the new fiscal year. All regular employees are eligible for the college’s across-the-board salary increase.
If a staff member is at the top of their salary range, they will receive salary increases in the form of a lump sum payment on their July 15th paycheck.
If a regular employee will have at least one year of service on July 1, they will also be eligible for a merit increase of 1%, 2%, 3%, 4% or 5%. Each year, every VP/dean is allocated a merit increase budget equal to 1% of the salaries of all the regular employees in their group. Supervisors and directors nominate employees for merit increases and VP/deans review all the recommendations and then decide how to allocate their pools.
One way to think about the size of the merit increase pool is that it is large enough to allocate a 1% raise to every member of a VPs group, or a 2% raise to approximately every other member of the group, or a 3% raise to every third member of the group, and so forth.
Merit increases are competitive and it is not uncommon to be awarded a merit increase one year, but receive no merit increase or a smaller increase the following year.
Because there is a fixed pool for merit increases, whether or not you get a merit increase in a given year depends on how many others in your VP/dean group will be awarded a merit increase.
Simply doing your job well is not enough to earn a merit increase. That is what is expected of all Reed employees. Merit increases are reserved for those who consistently do more than what’s listed in their job description, in service to Reed and its students.
Criteria for merit increases:
- Must have met or made significant progress on individual goals.
- Must embody the honor principle.
- Must be an active and contributing member of the Reed community.
- May have taken on significant new responsibilities during the past year.