Few professors would turn down a raise, but even standard contract pay bumps of 3 or 4 percent can leave long-serving faculty feeling less valued than their newer colleagues. That's because junior faculty often are recruited at similar or even higher salaries fresh out of graduate school, especially those in high-demand fields such as business and medicine. The issue, known as salary compression, compounds over time, and it's not great for morale.
But at least one university has stepped outside the box in its approach to equity in professor pay, aiming to bring all faculty salaries up to current market rates for their ranks and discipline, with some getting big percentage raises, and others less. And those involved in contract negotiations at Eastern Washington University say they’d be surprised if other universities didn’t take note.
Read more: http://www.insidehighered.com/news/2013/09/17/eastern-washington-u-adopts-market-approach-faculty-raises
Inside Higher Ed