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September 05, 2008

University Offers Bonuses for Professors

To improve its status, retention rate, and fund raising, Kent State University is paying cash bonuses to faculty members if the university exceeds its goals in those areas, reports The Chronicle of Higher Education.

The bonuses are built into a contract, approved last month, that covers 864 full-time, tenure-track faculty members who teach and do research on any of the university’s eight campuses.

The message behind the institutional-performance bonuses, which are much more common in private industry and for university presidents than for professors, is that faculty members should benefit from the work they do that influences a university’s success, said Lester A. Lefton, Kent State’s president.

The “success bonus pool” will be divided among faculty members if the Ohio institution improves retention rates for first-year students and increases the research dollars it generates and the amount of private money raised through its foundation.

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