To aid in your understanding of compensation policies, we have provided definitions for many of the compensation terms found throughout this document. Please refer to these definitions as necessary.
Annual salary pool is a percentage that the Board of Trustees sets aside on an annual basis for increases for continuing staff. The salary pools are set as a part of the annual budget process and may include funds for market adjustments.
Career Stages are a way of grouping similar jobs based on the type/nature of work performed and are determined by the scope of responsibility, knowledge or problem complexity, autonomy, direction given or received, technical and computer skills and typical training and experience required to perform a job.
Job Descriptions describe job responsibilities and qualifications. The information contained in the job description is the basis on which positions are compared with those of peer institutions and other labor markets, and salary levels subsequently determined.
Job Families are groupings of positions based on skill set, degree/experience required and similarity of responsibilities.
Job qualifications are those educational credentials, professional credentials, and certifications required for the position.
Job Reclassification is the reassignment/movement of a job to a different career stage or market reference range due to a significant change in current job responsibilities and/or a significant increase or decrease in skill level.
Labor markets are normally those geographic areas, industries, and peer institutions from which staff are recruited and to which they move when they leave Washington and Lee. The market used to evaluate our external competitiveness for most positions is the top 25 liberal arts institutions.
Market adjustments are increases to base pay that may occur when an employee's salary is below its peer or survey group average. A number of factors are considered when determining if a market adjustment is appropriate, including: job performance, education, work experience, certifications and licenses, the placement of the employee's salary within his/her salary range, and the salaries of other employees in the same or similar classifications. Availability of funds also may impact adjustments.
Market Reference Ranges are the individual salary ranges that reflect how positions across the University are paid in the market. Each position is assigned to a market reference range.
Promotions occur when an employee moves to a different position in a higher market reference range or pay band.
Staff refers to all non-exempt and exempt non-faculty employees.
Supplemental Pay is additional pay for assuming temporary new duties/responsibilities in a higher market reference range.
Work experience is defined as: (1) years in the subject area or discipline, (2) years in similar positions, and (3) depth and breadth of previous positions.