Compensation is a key element in retaining quality faculty members. The retention of exceptional faculty helps to ensure a higher level of education for University of Colorado students and enriches our high quality research and scholarship. To that end, the University of Colorado strives to ensure that faculty compensation is an important part of the annual budget planning process. For Compensation Guidelines and Policy Information, reference the following link:
When a faculty member receives an offer from a different Institution, or is expecting an offer, the Chair/Director may negotiate with the Dean to retain them in the College.
- Terms of the retention, if any, are agreed upon between the Chair and Divisional Dean.
- The Dean must concur with the terms and then obtains official written approval from the Provost. The retention will not be processed without this.
- Once approved, the unit submits the following to the College of Arts and Sciences Faculty Affairs Coordinator who submits to the Divisional Dean for review/approval:
- Once approved by the Divisional Dean, the College of Arts and Sciences' Faculty Affairs Coordinator routes the Faculty Retention Information Sheet to the Dean for signature via DocuSign.
- The College of Arts and Sciences' Faculty Affairs Coordinator emails the draft retention offer letter and Memorandum of Understanding (if applicable) to the Office of Faculty Affairs for approval.
- Once approved by the Office of Faculty Affairs, the retention offer letter and Memorandum of Understanding (if applicable) is saved as a PDF and routed by the College of Arts and Sciences' Faculty Affairs Coordinator for signatures in DocuSign with a copy to the following:
- The College of Arts and Sciences' Human Resources Service Center (HRSC@Colorado.edu)
- Director of Budget
- Director of Finance and Financial Service Center Operations
- Once the fully-signed retention offer is returned to the College of Arts and Sciences' Faculty Affairs Coordinator and saved to PDF, a printed version is sent to the Office of Faculty Affairs along with signed Faculty Retention Information Sheet and the Memorandum of Understanding (if applicable).
- If any changes to the offer letter are needed after approval, fill out an addendum form.