The Chronicle of Higher Education has a new op-ed out on lowering income inequality while providing a framework for pay equity on campuses:
At St. Mary’s College of Maryland, a public honors college, a group of faculty and staff members, students, and alumni have put together a proposal that would permanently cap the growing ratio between the top and bottom earners on the campus. The St. Mary’s Wages plan would establish a benchmark minimum salary for the lowest-paid full-time employees that would rise with inflation. Tenure-track faculty members would make at least twice that benchmark. Different groups of workers (for example, associate professors, professional-staff members) would be guaranteed wages above specified fixed multiples of the lowest salary.
On the other end of the salary scale, no professor would be allowed to make more than four times the benchmark. Vice presidents would be capped at a factor of seven times, and the president’s total compensation package would never exceed 10 times the lowest worker’s pay.
Click on the link above to read the whole article.