Ohio University announces raises and a bonus for employees< < Back to
ATHENS, Ohio (WOUB) — Ohio University, which will end its fiscal year with a large budget surplus, on Thursday announced bonuses and merit raises for eligible employees.
The bonus is $2,000 before taxes for permanent employees who were hired before Jan. 1, earn a base salary below $250,000 and are in active pay status on May 12.
Part-time employees will receive a prorated amount based on their full-time equivalency.
The bonus will arrive with the May 13 paycheck for employees paid semi-monthly and on the May 18 paycheck for those paid biweekly.
The bonuses are considered supplemental wages and will be taxed at 22 percent for the federal government and 3.5 percent for the state.
Employees hired before Jan. 1 will also receive a raise for fiscal year 23, which begins July 1.
The university’s divisions will create a raise pool equaling 2 percent of salary for all eligible employees. From this pool, the raise for each employee will then be determined based on merit.
Raises will range from a minimum of a half-percent to a maximum of 4 percent based on an employee’s performance as evidenced by their performance evaluations.
Faculty promotions will also come with the following pay boosts: $4,000 for promotion to associate lecturer, $6,000 for promotion to senior lecturer, $6,000 for promotion to associate professor, and $9,000 for promotion to professor.
OU’s unionized employees should refer to the language of their respective collective bargaining agreement to find the details related to their bonuses and wages.
The university also announced that health plan premiums will be increasing by about 22 percent, dental premiums will decrease by 1.8 percent and vision, life and short-term disability insurance premiums will remain the same.