Penn State To Allocate $60 Million For Staff Salaries
Penn State’s “Compensation Modernization” initiative is in its final stages of completion, and the university plans to conclude with a nearly $60 million investment into staff salaries.
The Compensation Modernization initiative, which began in 2020, is an effort to refashion Penn State’s career and salary structure to fit the modern working world. The effort formed a new salary structure for Penn State staff and now aims to align staff salaries with said structure.
Penn State plans to put forth $17.6 million for altering staff salaries to fit the new structure and $42.6 million for other adjustments.
“From the beginning of this initiative several years ago, we have been focused on developing a new compensation program that will allow for competitive staff salaries and more flexibility for executives to adjust salaries in their unit for high-performing staff, and to recruit and retain the best employees,” Vice President for Human Resources and Chief Human Resources Officer Jennifer Wilkes said. “I know it has been a long journey to get to this point, but I’m thankful that the University has committed to making this historic investment in our staff.”
While not all staff will see a pay increase, as Wilkes ensures much of Penn State staff is paid either equal to or above their new pay grade, the university will continue to evaluate the pay and career structures going forward. With the new structures in place, receiving a promotion or raise in pay will be more achievable while staying in the same job, whereas before this process often required a job switch.
The job and compensation changes made as a result of the Compensation Modernization initiative will be effective starting March 1, but Penn State staff can view any salary adjustments today, Wednesday, January 24.
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