Can you help me understand Annual Salary?
Article ID: 273 | Rating: 1/5 from 1 votes | Last Updated: Tue, Jan 3, 2017 at 9:55 AM
Question: Could you explain "ANNUAL SALARY"? Is it 12 months or 9 months...or does it depend if faculty, staff or student?
Annual Salary is the "rate" at which an exempt employee is paid (as different from nonexempt employees who are paid with an hourly "rate"). Texas Tech's pay plan quotes salaries for exempt titles as an annual rate. Two categories of exempt titles are in the Texas Tech pay plan:
Faculty/TA/GPTI titles whose annual pay is quoted for the 9 month period (teaching titles used in the 9 month academic year of Sept through May). The ePAF for teaching appointments includes 'Faculty/TA/GPTI' with the name of the ePAF, and the ePAF Originator is expected to enter a 9-month total pay in the Annual Salary entry field.
Regular Exempt titles whose annual salary is quoted for a 12 month period. The ePAF for regular exempt appointments includes 'Exempt' with the name of the ePAF, and the ePAF Originator is expected to enter a 12-month total pay in the Annual Salary entry field.
If you are appointing an exempt employee for only a semester, the ePAF requires an Annual Salary "rate" to be entered for a full 9-month or 12-month amount.
If you are given semester pay and need to convert it to an Annual Salary "rate" for entry on the ePAF, use the ePAF Calculator on the AFISM Resources page, and select the 'Multi-purpose Exempt Salary' from the drop-down list.