What is the academic base salary?
For a faculty member who terminates employment as of the June 30 end of an academic year, his/her academic base salary is the base salary that was in effect as of the preceding July 1. For a faculty member who terminates employment as of some other date, his/her academic base salary is the “weighted average” of his/her academic base salaries during the 12 months preceding his/her termination. An example of this weighted average calculation is as follows: Example: Assume that a faculty member elects to terminate employment as of January 1, 2005. The faculty member’s base salary as of July 1, 2003 is $120,000. The faculty member’s base salary as of July 1, 2004 is $150,000. The faculty member’s weighted average academic base salary for the last 12 months is $135,000, determined as follows: $60,000 (six months of salary at an annual rate of $120,000) plus $75,000 (six months of salary at an annual rate of $150,000) equals a weighted average academic base salary of $135,000. Academic base
