Announcing Multiyear Compensation Initiative
December 06, 2023
Dear LMU Community,
On Monday, the Board of Trustees authorized that we pursue a multiyear compensation initiative, a deliberate and thoughtful strategy aiming to support and retain our faculty and staff. Over the next several years, the university will invest millions of dollars in the base budget to raise faculty and staff salaries beyond the market median into a more competitive range worthy of the ambitions and successes you make possible. Forthcoming guidance will define specific targets and clarify how this initiative applies to individual community members.
Guided by our Catholic, Jesuit, and Marymount values and mission, this initiative has been in the works for several years. Beginning in 2016, we prioritized aligning faculty salaries with the market median, achieving this goal across most of our colleges and schools by 2022. Our review, analysis, and work continued. In partnership with LMU Human Resources, in March 2022 we conducted and continue to conduct comprehensive analyses of our marketplace competitors. Last fall, I announced a base compensation increase to at least $21 per hour for all employees, which we implemented in April 2023. These undertakings are significant strides forward to ensure we continue to recruit and retain talented colleagues.
To guide the path ahead, I have directed Executive Vice President and Provost Thomas Poon and Executive Vice President and Chief Operating Officer Rosemarie Rae to form and lead a special task force, the LMU Compensation Committee, to consider implementation methodologies. In collaboration with the University Comprehensive Benefits Committee (UCBC) and the Budget Planning Committee, this work will proceed with transparency and will include faculty and staff. We will update our community regularly in LMU This Week.
In announcing our ongoing work through this initiative, we will continue prioritizing student financial aid and advancing strategic funding priorities. These efforts will improve our capacity to support our students and provide the outstanding educational experience for which we are known.
With gratitude, and in solidarity,
Timothy Law Snyder, Ph.D.