I am taking a Leave of Absence for one semester. Will this affect my pay schedule?
In a typical year, the academic salary is divided equally over the pay schedule (9, 10 or 12 months). However, if a faculty member takes a leave of absence in either the Fall or Spring semester, the calculations change slightly as each semester is treated separately for the purposes of actual payments.
When a faculty member takes a leave of absence for one semester, the monthly salary is calculated by dividing the total base salary by 2 in order to get the per semester term amount. The monthly amounts become uneven due to the way the Fall and Spring terms are distributed over the calendar year. This will be most noticeable for faculty on 10 or 12 month pay schedules.
For faculty on the 12 month pay schedule, the Fall term amount is spread over roughly 6.5 months (July through mid-January), while the Spring amount will be spread over roughly 5.5 months (mid-January through June). For the 10 month pay schedule, the Fall term amount is spread over 4.5 months (September through mid-January), while the Spring term amount is spread over 5.5 months. In all cases, the January paycheck will reflect a hybrid amount for the fraction of each semester.
For more information, please see the Faculty Leave Worksheet under the Additional Resources tab.
Why are pay schedules changing?
Changes to faculty pay schedules will take effect starting July 1, 2020 as part of the deployment of Princeton University's new academic calendar. More information on calendar reform can be found online at https://calendarreform.princeton.edu/.
What are the pay schedule changes?
Beginning July 1, 2020, eligible faculty on an academic year appointment (9 months) will have the option to receive their pay over a 9-, 10-, or 12-month schedule.
- Faculty selecting a 9-month schedule will receive their academic year salary over 9 months (September through May). No payments during June, July and August.
- Faculty selecting a 10-month schedule will receive their academic year salary over 10 months (September through June). No payments during July and August.
- Faculty selecting a 12-month schedule will receive their academic year salary over 12 months (July through June).
Will my salary be reduced?
No. This transition will not result in a salary reduction for any employee. Paychecks are simply moved to either a 9-, 10-, or 12-month schedule.
How will I benefit from the change?
By providing these options, faculty can select the best pay schedule for their needs. Faculty who do not earn summer salary may benefit from the 12-month schedule as it eliminates a pay gap during the summer and provides regular cash flow, making it easier for personal budgeting. Faculty who do receive summer salary may find the 9- or 10-month schedule more appealing as it provides a smoother cash flow throughout the year.
The changes also bring Princeton more in line with our peer institutions who either follow a 12-month pay schedule or give similar options to choose.
Who is affected by the transition?
All assistant professors, associate professors and full professors ("ladder faculty") will be impacted by the faculty pay schedule change and must select either a 9-, 10- or 12-month payment schedule.
Newly-appointed or rehired ladder faculty in their first year will have the option to choose a 9-month schedule (September through May) or a 10-month schedule (September through June). After their first year, all three payment schedules will be available to choose.
How are non-ladder faculty ranks impacted?
Non-ladder faculty ranks continuing after their first academic year of appointment will receive their academic year salary over 12 months.
Non-ladder faculty on a single term appointment will be paid over the period they earn:
Fall term only appointments will receive 4.5 months of pay spread over 5 paychecks (September through January).
Spring term only appointments will receive 4.5 months of pay spread over 5 paychecks (January through May).
Note: All non-faculty ranks currently earning pay over 12 months will remain on the same schedule and are not impacted by these changes.
I am a new faculty member starting in September 2020. How will my paycheck be affected?
Newly-appointed or rehired ladder faculty in their first year will have the option to choose a 9-month schedule (pay from September through May) or a 10-month schedule (pay from September through June). After their first year, all three pay schedules will be available to choose.
Do the new pay schedules impact start dates for new hires?
The default start date for all new hires will remain September 1.
What happens if I am on a 12-month schedue, but leave the University prior to the end of June?
Faculty who retire or resign at the end of the academic year will receive a balloon payment at the end of May which will include both their May and June payments.
If a faculty member should leave the University in the fall, they will be expected to repay the University for any money received, but not yet earned.
How do I select my payment cycle?
Faculty will be able to select their preferred schedule during the annual election period, simialr to the benefits process. On April 13, 2020, eligible faculty will receive an email notification that a new tile on their HR Self Service is available. To make a pay schedule election, please select the Faculty Pay Election tile.
What happens if I do not select an option in time?
Faculty who do not submit an election by May 8, 2020 will automatically default to the current 10-month schedule (September through June).
Can I change my payment schedule after the election period ends?
No. Due to IRS regulations, we cannot change payment schedules mid-year. You must wait until the next annual election process to make any changes.
Am I still eligible for summer salary?
Yes. These changes to the faculty pay schedule will not impact summer salary. Eligible faculty will have the ability to earn summer salary regardless of whether they opt to receive their pay over 9, 10 or 12 months. Faculty who select the 10- or 12-month schedule will receive their summer salary payment in addition to their monthly FTE pay.
How will this impact my current mortgage deductions?
For those faculty who participate in the Princeton mortgage program, all current mortgage are written with 10-month amortization schedules and mortgage holders pay through salary deduction over 10 months from September through June.
Current participants who choose a 9-month pay schedule will be contacted separately for the June payment, unless they receive summer salary (in which case it will be taken out through payroll deduction).
Current participants who choose a 12-month pay schedule will continue to have their mortgage deducted through payroll deduction from September through June.
I want to sign up for the Princeton Mortgage Program this year. How will I be impacted?
Future mortgages in the Princeton mortgage program will be written with a 12-month amortization schedule and mortgage holders will pay through salary deduction over 12 months.
New participants who choose a 9- or 10-month pay schedule will receive an invoice any month they do not receive payment from the University (i.e. summer months).
Whom may I contact if I have questions on the Princeton Mortgage Program?
For questions related to the Princeton Mortgage Program, please contact Dede Nissen by email at email@example.com or by phone at (609) 258-3123.
Will there be any changes to the University rental housing deductions?
Rental contracts are written from the date of occupancy through the following June and payments will continue to be collected monthly, preferably through payroll deduction.
Faculty who choose a 9- or 10-month schedule will be required to mail a check or pay online for any month they do not receive a paycheck from the University (i.e. summer months). An email will be sent as a reminder. Additional information can be found on the F&T website here.
Whom may I contact with questions?
For general inquiries, please contact the Office of the Dean of the Faculty at firstname.lastname@example.org. A full list of contacts can be found online here.