17.19 Converting Faculty and Staff Salaries between Fiscal and Academic Year
(1/20)
Standard University practice to convert faculty and staff salaries between fiscal- and academic-year appointments: When circumstances require that a salary be adjusted from a fiscal-year (twelve-month) basis to an academic year (nine-month) basis and vice versa, a 9:11 conversion factor is used. The 9:11 ratio is used rather than 9:12 because faculty and staff on an academic-year appointment do not earn vacation leave, whereas faculty and staff appointed on a fiscal year basis earn vacation leave. Assuming full-time effort, faculty and staff on fiscal appointments earn 24 days of vacation leave annually and thus work approximately eleven months of the year.
- To convert a fiscal-year salary to an academic-year salary: Fiscal-year salary / 11 X 9 = academic-year salary.
- To convert an academic-year salary to a fiscal-year salary: Academic-year salary / 9 X 11 = fiscal-year salary.