FY24 salary increases and upcoming bonus
The following message was sent to Ohio University faculty and staff on May 11, 2023
Dear OHIO Colleagues,
As we wrap up our spring semester and look toward the year ahead, we wanted to share an update on our commitment to our most valuable resource – our people. This has been yet another incredible year for Ohio University. We successfully welcomed the largest incoming class in our history, embraced our leadership in health care education across the state, completed the rollout of our Guarantee+ Graduation Plan on the Athens campus, set new records in fundraising to support students, launched major capital initiatives, including approval of our Housing Master Plan, and far more.
None of that would have happened without all of you working together. We do not say it often enough: You are what makes OHIO all that it is. We have talked throughout the year about our collective commitment to your continued growth and success, but we know we have to back up that commitment with action, including, but not limited to, prioritizing investments in compensation.
FY24 Raise Pool and Upcoming Bonus
We are thrilled to be wrapping up yet another year with a budget surplus, and once again we are prioritizing our faculty and staff through a one-time bonus. We will be awarding a bonus of up to $2,000 to all benefits-eligible employees hired prior to January 1, 2023 who meet the eligibility criteria.
In addition, faculty and administrative staff hired before January 1, 2023 will be eligible for an FY24 salary increase, based on merit. Divisions have been instructed to allocate budget equaling two percent of salary for all eligible employees to fund merit-based raises. Individual salary increases for eligible employees will be a minimum of 0.5 percent and a maximum of 5 percent. The final percentage increase will be determined at the unit level and tied to the individual’s performance evaluation. Members of AFSCME (American Federation of State, County, and Municipal Employees) 3200, AFSCME 1699, FOP (Fraternal Order of Police) Police Officers, & FOP Police Lieutenants will receive a 2 percent salary increase as outlined in their collective bargaining agreements.
For details about timelines and eligibility, visit our HR (Human Resources) website.
Looking Ahead: Our People Strategy
Importantly, we recognize that compensation alone is not reward enough for the time, talent, energy and passion you bring to your work. With that in mind, we are beginning work to develop a new, all-encompassing People Strategy focused on fulfilling our commitment to recruiting, retaining, developing and rewarding our people. In the months ahead, we will seek broad input from University stakeholders to inform this work. Our plan will include both short and long-term strategies around compensation and benefits, recruitment, faculty and staff engagement and career growth and development.
Our ultimate goal is an ambitious one: to be one of the best places to work in higher education. Getting there will take time; however, we believe this work is second only to our commitment to student success, and we look forward to working with you to make progress, together.
Vice President for Finance and Administration and CFO