The academic remuneration package is made up as follows:
- Basic Cash
- Annual service bonus (only paid if in service, paid pro-rata in first year of service and not paid pro-rata upon resignation)
- UIF insurance
- Group life insurance of +-.456% of basic cash,
- Pension/provident/non-contributory provident fund
- Medical aid membership
- Housing allowance
Depending on benefits selected, the total cost to company remuneration packages may vary. While the total cost to company will not differ, the basic cash will depending on whether the pension/provident or non-contributory provident fund is chosen. If the non-contributory provident fund is chosen, the basic portion of remuneration package will be 94.27% of that of the pension/provident fund. For this reason, different remuneration information is provided for pension/provident fund and non-contributory provident fund.
Remuneration reviews take place on an annual basis, effective from January of each year. In January 2008, a market review of academic remuneration took place resulting in an adjustment to cluster academic remuneration at Rhodes around the 50th percentile (this means that Rhodes pays in the middle of the Higher Education market). In January 2009 a market adjustment was made to the associate professor scale. For strategic reasons, the junior lecturer remuneration was also increased by more than just the annual adjustment. In January 2012 an annual adjustment applied to all academics and a market adjustment to senior lecturers, associate professors and professors.
For further information please feel contact the Director: HR at 8113 or email@example.com.
Last Modified :Tue, 03 Oct 2017 16:28:06 SAST