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The Board of Governors of the University of Central Missouri has a primary responsibility to assure that the university allocates and spends its resources to fulfill its educational mission. The main mission of the university is to provide excellent educational opportunities for UCM's students. A quality faculty body is a primary factor related to student success; therefore, this compensation policy is designed to attract and retain the most qualified faculty possible within UCM's fiscal resources.

A. The University of Central Missouri's faculty compensation system is based upon three values - equity, competitiveness and quality.

1. Equity. Faculty salaries will be set at a level that is reasonable for the qualifications and experience of faculty within their respective norm group. This requires national disciplinary comparisons to assure that UCM faculty are being paid a fair salary within the context of their discipline.
   
   
2. Competitiveness. The compensation system will be flexible enough to attract and retain a quality faculty in all disciplines that comprise the university. This value requires the administration to administer a system sufficient to attract quality faculty from all disciplines and flexible enough to adjust to market conditions and to allow the university to retain faculty who may be recruited by other institutions.
   
   
3. Quality. The compensation system will encourage and reward demonstrated excellence as a teacher/scholar throughout a faculty member's UCM career. This value requires the institution to define the specific faculty behaviors it wishes to encourage and assess those behaviors through a carefully designed faculty evaluation system.
   
   

B. The faculty compensation system will:

1. be characterized by efficient use of resources
   
   
2. incorporate competitive salaries as defined by disciplines
   
   
3. set the base salary for the campus at a level that is competitive 
   
   
4. accommodate disciplines demanding higher salaries than the base model through market adjustments
   
   
5. index salary levels to four faculty ranks: instructor, assistant professor, associate professor and professor 
   
   
6. be indexed to a national survey that reflects its mission and goals
   
   
7. require that the administration and faculty conduct a salary equity review for ethnicity and gender bias every three years to assure fairness
   
   
8. hold harmless incumbent faculty salaries, i.e., no salaries will be reduced as a result of the shift to the new model
   
   
9. treat all faculty the same, assuming satisfactory performance, i.e., all faculty will be and are eligible for all salary components
   
   
10. include the salary components of annual across-the-board increases, market and merit