Many University of New Mexico staff and faculty will be getting a little extra in their paycheck in August. UNM’s Board of Regents today agreed to a one-time pay supplement of $550 for employees who meet merit, time in position, and salary criteria.

During the UNM Budget Summit this spring, Regents had voiced concern that reduced revenue and increased costs negated the University’s ability to fund salary increases for FY17. The one-time pay boost applies to all regular faculty and staff who:

  • earn less than $100,000,
  • were hired before Jan. 1, 2016 and are not on probation
  • have satisfactory performance reviews.

A total of 5,900 employees qualify for the added pay, just over 4,600 staff and nearly 1,300 faculty. $1.3 million from UNM’s central reserve fund will be used to help pay for the one-time salary supplements.

Following the meeting, Regent President Rob Doughty and Regent Marron Lee commented that the board felt it was an important move to recognize the contributions of staff and faculty to the University.

“During this tough financial climate, this is a way for us to recognize their high quality work and still balance our budget,” Lee said. “I hope they will remain patient as we continue our realignment efforts that may provide more opportunities for compensation in the future.”

“The Higher Education Department recommends the University set aside about three percent of our budget in a reserve for emergencies,” Doughty said. “Currently we have enough in that fund to give employees this extra one-time payment, without falling below that threshold.”

Employees can expect to see the extra amount in their paycheck in late-August.