To support our goal of making Colorado College one of the greatest places to work, college leadership and I are committed to paying faculty and staff in a financially sustainable way that takes into account living wage principles and reflects the educational labor market.
As you know, we have taken several steps to address the rapidly changing compensation needs of our staff and faculty:
- Earlier this year, we increased salaries by 2.5% for staff in bands 1-6 and 2% for staff in bands above 6 as part of our annual review process.
- We also provided a one-time payment to staff hired before Jan. 1, 2022, in June of this year to recognize and acknowledge invaluable commitment and efforts.
- We raised the campus minimum wage to $17.00/hour (and $15.00/hour for occasional workers).
- We provided an initial increase for staff whose pay was compressed by the increase in the minimum wage.
While COVID is still a challenge to our campus, most of our students and employees have been vaccinated and we believe we have ample controls and services in place to support our community. So, we have decided to reallocate a portion of funds that were set aside for the pandemic to provide an additional increase for staff in pay bands 1-6.
Staff in pay bands 1-6 with a current hire date prior to 2020 may be eligible for this additional compression adjustment, effective Oct. 1, 2022.
This decision will help approximately 160 of our staff members to come into alignment with our compensation philosophy and goals. If you receive this increase, you will be notified by email with specific information the week of Oct. 1. This letter will include contact information for additional follow-up.
I understand how important getting our compensation right is for all of us. This is just another step to ensuring we are creating one of the best places to work in higher education.
Senior Vice President, Chief Operating Officer and Chief Financial Officer