Posted on May 12: Board of Governors approves TMG compensation

Compensation for 2003-04 for members of The Management Group (TMG) was approved by the Board of Governors at its April 24 meeting.

The salary provisions were based on recommendations from a committee comprised of delegates from TMG and senior management and were unanimously endorsed by the Board's remunerations committee.

The approved salary provisions are:

The salary provisions for 2003-04 are composed of economic revision (formerly known as across-the-board) of 1.5 per cent and merit pool of 3 per cent. This combination of economic revision and merit pool is in keeping with the University's adoption and transition to a pay-for-performance model for TMG compensation.
The salary ranges for 2003-04 will move by a weighted average increase of about 4.5 per cent to achieve the previously approved target of 60th percentile of comparable organizations. The definition of a comparable organization includes national and regional market analyses, public and private sector institutions and corporations. This change to salary ranges fulfills a commitment that the pay policy line would be at the 60th percentile in the third year of the TMG Total Rewards Redevelopment initiative.

The salary provisions are effective June 16, 2003 and will be reflected in the July 15, 2003 pay deposit.

Human Resources Services is coordinating a series of information meetings in May and June for TMG members to attend and learn more about the 2003-04 salary provisions.

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Compensation for 2003-04 for members of The Management Group (TMG) was approved by the Board of Governors at its April 24 meeting. <br />
<br />
The salary provisions were based on recommendations from a committee comprised of delegates from TMG and senior management and were unanimously endorsed by the Board&#039;s remunerations committee. <br />
<br />
The approved salary provisions are:	 <br />
	<br />
<ul><li>	The salary provisions for 2003-04 are composed of economic revision (formerly known as across-the-board) of 1.5 per cent and merit pool of 3 per cent. This combination of economic revision and merit pool is in keeping with the University&#039;s adoption and transition to a pay-for-performance model for TMG compensation.</li><br />
<br />
<li>	The salary ranges for 2003-04 will move by a weighted average increase of about 4.5 per cent to achieve the previously approved target of 60th percentile of comparable organizations. The definition of a comparable organization includes national and regional market analyses, public and private sector institutions and corporations. This change to salary ranges fulfills a commitment that the pay policy line would be at the 60th percentile in the third year of the TMG Total Rewards Redevelopment initiative. </li></ul><br />
<br />
The salary provisions are effective June 16, 2003 and will be reflected in the July 15, 2003 pay deposit.<br />
<br />
Human Resources Services is coordinating a series of information meetings in May and June for TMG members to attend and learn more about the 2003-04 salary provisions.  <br />
<br />
<br />
<br />

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