As the cost of tuition continues to rise and enrollment declines, colleges and universities nationwide are faced with potential revenue shortfalls.
The added pressure of smaller operating budgets and increased scrutiny of executive and employee pay practices makes attracting and retaining top talent more difficult than ever.
With a strong understanding of the unique challenges that higher education institutions are facing, SullivanCotter provides the guidance, data and insight needed to navigate today’s evolving environment. We work closely with colleges and universities to develop and implement competitive compensation, benefits and talent management strategies tailored to the individual needs of each organization – enabling them to align pay with performance to help achieve organizational goals.
Our comprehensive higher education services include:
Executive Compensation and Governance
- Designing, evaluating and implementing executive total compensation programs
- Selecting appropriate and defensible peer groups for compensation benchmarking
- Determining and documenting reasonableness of compensation programs to help ensure compliance with federal and state regulations
- Developing incoming and outgoing executive compensation and benefits packages
Employee Compensation
- Designing competitive cash compensation programs, including salary and incentive programs
- Developing salary administration strategies, including salary structure design and evaluation
- Analyzing programs for external competitiveness and internal equity
Board Compensation and Governance
- Educating board on best practices and regulatory requirements
- Researching and facilitating best practices in board governance