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Budget and Costing Guide

Salaries and Wages

Faculty

Faculty seeking external grants are asked to predicate requests for salary support on their nine-month academic year contract. Each month of grant effort represents 1/9 of the salary base. The level of remunerated effort frequently varies from 5-100%, depending on the nature of the applicant's grant activities. For example, a faculty member receiving an academic year salary of $36,000 might ask the external sponsor for 2 months of full-time salary support in the summer.

Salary Calculations:

Time commitment salary base level of effort summer salary

2/9 (22.2%) x $36,000 x 100% = $8,000

Administrative

Administrative, technical and clerical salaries are generally predicated on a twelve-month contract. Whenever the funding source will allow, the grant applicant should request 1/12 of the salary base for each month of grant effort. For example, support for a technical position at an annual salary of $18,000 for a six-month period at 25% is calculated below.

Salary Calculations time commitment salary base level of effort total salary

6/12 x $18,000 x 25% = $2,250

Release Time:
Release time refers to the amount of time an individual is freed from regular duties for another activity (such as a sponsored project). There are two types of release time: Sponsor paid release time and college paid release time (see cost sharing). Sponsor paid release time funds are transferable from the project account to the divisional or departmental account.

Off-semester Compensation:
Many sponsors will allow some off-semester salary for faculty appointments at a maximum of 2 months (2/9 or 22.2%). One month of full-time summer work for a faculty member working half time with a base salary of $30,000 would be calculated as follows

Time commitment Salary base level of effort total

1/9 (11.1%) x $30,000 x 50% = $1,665

Students

Typical hourly wages for students hired by the College range from $7.15 (undergraduates) to $10.25 (graduate students).

Full-time Employees/Multi-year Projects

Multi-year projects should project a 4% increase to the salary base for each subsequent fiscal year. In some instances, funding sources have a maximum rate for salary or provide a lump sum fellowship. Please follow the guidelines of the sponsors.

Fringe Benefit Rates

31.4% applicable to all employees


Facilities and Administrative Costs

Marist College's indirect (F&A) rate on-campus is 49.3% of salary and wages
Marist College's indirect (F&A) rate off-campus is 19.7% of salary and wages