Compensation at Belmont University
Belmont University seeks to attract and retain highly qualified staff and faculty who will share our values and will support our mission and vision. To reward its staff and faculty, Belmont uses compensation systems that are fair and equitable, and comply with all local, state and federal regulations. As described in its Vision 2015 document, “Belmont employees will be fully engaged in challenging and demanding work and will share in the financial success of the university as salaries meet and exceed peers. Compensation will increasingly be tied to performance excellence.”
An employee’s total compensation is made up of two components – base compensation and benefits.
- Wages paid for hours worked or salary paid for job performed
- Positioned to be competitive with the median of the labor market in which employees are found
- Internal equity as well as competitiveness with applicable labor markets
- Includes all indirect compensation programs such as paid time off, insurance programs, and retirement contributions
- Positioned to be competitive with the local market and comply with government regulations
- For more information about the benefits provided at Belmont University, click here.
All staff compensation system programs are developed and administered using the following five philosophies:
- Consistency - All positions are evaluated using the same methodology and factors. Pay practices are common for all staff positions in the compensation structure.
- Competitiveness - Base compensation for fully competent employees is intended to be competitive with the median of the labor market from which they are recruited.
- Development - Key goal of pay delivery practices is to motivate staff development and increase effectiveness.
- Performance - Belmont University performance influences annual compensation programs. Individual employee performance, specifically achievement of annual objectives, affects annual compensation treatment.
- Openness - Information concerning an employee’s personal compensation program structure is available to employees for their private use.
For more information about staff compensation programs, click here.
The base faculty salary incorporates the concept of differentiated pay based on rank, experience, academic preparation, and meritorious service to the university as determined by faculty evaluations, and market supply and demand in the teaching field. Differences in salary are made in an orderly systematic manner with careful regard to the over-all impact on the total Belmont faculty. Additional information about faculty compensation policies can be found within the faculty handbook.