Merit Increases/Market Adjustments
The UVAMC Compensation program is flexible, giving you many ways to grow your career and your base pay. You can:
- Grow within your pay grade by demonstrating greater levels of competency and consistently meeting your objectives. If approved within a given year’s budget, merit increases are paid on a common annual date and reflect growth within your current job and pay grade. A merit increase is a percentage of your pay. If you are at or above the maximum of your pay grade, your increase will be in the form of a lump sum payment. Keep in mind that merit increases are not guaranteed. The amount of your merit increase, if any, will be determined by the annual merit increase budget which is determined by UVAMC leadership and your performance.
- Advance to a higher pay grade by developing new skills or taking on new responsibilities that allow you to qualify for a high level job.
- In addition, each year, UVAMC will evaluate all jobs against market data to ensure our current pay keeps pace with the market. When needed and based on our budget, we will do a market adjustment to update pay ranges to a competitive level. Market adjustments are done on a position-by-position basis based upon market data and could result in pay adjustments for individuals in those positions. The market adjustment is not intended to compensate employees for general inflation or cost of living increases. Rather, it is dependent upon the actual increase in the market value of the job.