Up to 45 percent of NMSU faculty could receive salary adjustments as part of a market equity effort. Here is the full text of a memo issued Friday:
DATE: April 17, 2015
TO: NMSU Las Cruces Faculty
FROM: Garrey Carruthers, President
Dan Howard, Executive Vice President and Provost
SUBJECT: NMSU’s market equity plan
Earlier this month, the New Mexico State University Board of Regents approved the third and final phase of NMSU’s market equity enhancement plan, an effort to bring all tenured and tenure-track faculty salaries at the Las Cruces campus to a market-competitive level.
While this plan was instituted by a previous NMSU administration, we felt it was necessary to honor this important commitment to our faculty and will invest $2.2 million to fulfill this pledge.
This means that effective with contract periods for the 2015–2016 fiscal year, eligible faculty members will receive an adjustment to bring their base salary to 90 percent of the market median for their faculty rank and discipline. To be eligible, faculty members must be tenured or tenure track, be hired before January 1, 2015, have a performance evaluation of meets expectations or better, and have a base salary below 90% of the market median. As many as 45 percent of NMSU faculty could receive these adjustments.
We are fortunate to have an outstanding faculty at this university. Thank you for your exceptional service to NMSU.