Compensation Structure
The University of Richmond's compensation and career program consists of a salary structure and a career structure. The salary structure enables the University to manage compensation competitively against the market through market-based salary grade ranges that provide enough width to account for variation in individual experience and performance. The career structure explains how employees move through career stages as they advance in the salary structure.
The combined goal is to maintain competitive compensation with the market while providing employees with more clarity about career progression and career opportunities.
The UR salary structure contains 12 grades. Each of the grades has a minimum, midpoint, and maximum reflecting the range of compensation in the market for the positions in the grade. UR benchmark positions (i.e., positions for which market data is available) are placed into the structure based primarily on an analysis of compensation in the market for each of the positions, along with internal equity considerations. Non-benchmark positions (i.e., positions that are unique to the University or for which market data is not available) are placed into the structure based on a comparison of the scope, impact, and responsibility of the position to benchmark positions.
The salary structure provides guidelines for UR to set and manage compensation. Employees can expect to be paid within the range of the grade for their position. Employees primarily advance through a grade through annual performance-based increases.
Positions are assigned to salary grades primarily based on their market value. Many positions at UR are benchmark positions. This means that positions with similar responsibilities and skill requirements are typical in the market and reliable pay data can be found in published surveys. Benchmark positions are assigned to a grade with the midpoint closest to the market median for the position. The internal equity of all assigned positions is reviewed before finalizing grade assignments.
For other positions, market data may not be available; these are called non-benchmark positions. This occurs when positions are found in the market, but not included in salary surveys. In some cases, positions are developed around the skills and expertise of individuals, or to accommodate specific organizational needs. Non-benchmark positions are assigned to the salary structure by comparing the non-benchmark position to other benchmark positions at the University. Positions are compared by considering:
- Knowledge and Skills: The formal and informal expertise needed to perform the duties of the position on a day-to-day basis. Example: Accounting rules, standards, and procedures.
- Experience: The amount of prior experience in the same or similar position required to perform the duties.
- Autonomy: How much supervision the position requires.
- Influence: The impact that a position has on key organizational imperatives. Example: Financial health, academic quality, or effectiveness of services provided within the institution.
- Scope of Responsibility: The breadth or range of the position's operational influence within the institution. Example: University-wide scope, division, or department.
Employees with satisfactory performance will be brought to at least the minimum of the salary grade to which their position is assigned. No permanent employee will be hired below the minimum.
All employees can expect to be paid within the pay range associated with their position's grade. For salary structure implementation, individual adjustments also consider skills, experience, and performance. Human Resources will discuss appropriate salary adjustments with department leaders.