UNM Today


Contact Us
Current Issue
Editorial Policies
Previous Issues
Publication Dates

Subscribe to
email edition


Links

 

Campus News
     
Your faculty and staff news since 1965
April 18, 2005
Volume 40, Number 9

Compensation equals more than paycheck


By Susan Carkeek

The UNM Human Resources department is committed to attracting and retaining top quality staff. One way the university supports this commitment is to offer a total compensation package competitive with other employers.

Of course, total compensation is more than pay. It includes important benefits such as health care coverage, retirement plans, leave benefits, tuition remission and paid holidays. These two elements – pay and benefits – make up an employee’s total compensation package.

By the end of April, Human Resources will distribute statements that summarize each employee’s total compensation package.

While preparing these statements, we compiled some interesting data. During calendar year 2004, on average, leave earnings comprised approximately nine percent of an employee’s salary – six percent annual and three percent sick. In addition to salary, UNM staff received an average of approximately $9,000 in additional benefits, representing an extra 26 percent paid by the university on behalf of employees. The 15 paid holidays UNM offered in calendar year 2004 would be equivalent to an additional six percent benefit. The total benefit then averages 41 percent of salary.

The total that UNM paid all current staff for hours worked, annual leave and sick leave during 2004 was roughly $180 million. Add to this the 26 percent that is contributed toward benefits and other programs and this figure jumps to $226.5 million. These figures represent only regular benefits-eligible staff.

If you have questions regarding your statement, please contact the HR Service Center at 277-myHR (277-6947) or HSC HR at 272-6445.