Question: Why are we focused on compensation planning now?
Answer: Fair and competitive faculty compensation allows UVA to attract and retain the best and brightest academically oriented clinical talent aligned with our mission. Today, there is significant variability in departmentally determined compensation and incentive plans across departments and divisions with some providing faculty an opportunity to earn significant variable compensation while others have a limited mix of fixed and variable compensation. The metrics used to calculate incentive compensation also vary greatly with significant variation in how we value and reward academic contributions. This was further validated by the SOM-wide Salary Study that was conducted in 2022-2023. Hence, the SOM needs a Clinical Compensation Plan that provides market-competitive compensation, is based on an equitable, transparent, and consistent methodology, is based on national benchmarks for compensation and clinical work, and encourages us to grow across all of our mission areas.
If you have specific questions about the Clinical Compensation Plan redesign, please contact your department chair or Department Compensation Plan Committee members. You may also send an email inquiry to: clinicalcompplan@uvahealth.org. Further, an internal website is being developed that will host information on the Clinical Compensation Plan. More details to follow.
Filed Under: Clinical