To budget for a daily rate of pay, divide the faculty member’s base salary by 168 (the number of duty days in an academic year), then multiply that figure by the number of hours of effort for which the faculty member will be compensated. EXAMPLE: Dr. Y is on a 9-month appointment @ a salary of $45,000. Dr.
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To budget for an hourly rate, divide the faculty member’s base salary by 1,344 (the number of duty hours in an academic year), then multiply that figure by the number of hours of effort for which the faculty member will be compensated.
VSU has established 7.65% as the fringe benefit rate for part-time employees, student workers, and summer salary. This includes social security and worker’s compensation. Personnel working less than 75% effort are considered part-time. Fringe benefits for all students should be calculated at 7.65% .
To determine hourly rate of pay, divide the base salary by 1,792 (duty hours for 12-month employees calculated with allowances for annual leave, official holidays, and administrative closings).