We propose a new method of benchmarking salaries at St. Mary’s College of Maryland that would complement the current practice of marking salaries to those at peer institutions.
Our proposed St. Mary’s Wages would accomplish several goals:
- bring our wage policies in line with the College Mission and the St. Mary’s Way
- establish a living wage that adjusts for inflation
- limit future spending by capping faculty and administrator pay
- hold down tuition increases
The St. Mary’s Wages proposal seeks to align our salary structure with our mission. We propose establishing a benchmark minimum salary for the lowest paid full-time employees that would adjust with inflation. Other categories of employees would have pay ranges based on the benchmark. Faculty and administrator pay would be subject to caps also based on the benchmark. Adopting this St. Mary’s Wages proposal would guarantee a living wage to all college employees – one that wouldn’t erode with inflation over time. The caps on higher salaries would eliminate one of the drivers of costs, limiting future tuition increases and improving the college’s ability to implement its mission of inclusiveness. As the first higher education institution in the country to implement such a plan, the college would serve as a model for reining in runaway costs and protecting the public interest.