This procedure explains the various pay cycles and pay calculations.
Faculty, administrative personnel, salaried Graduate Assistants, Graduate Teaching Assistants, and Graduate Research Assistants, and employees exempt from coverage under the Fair Labor Standards Act (Wage and Hour Law) are paid on the monthly payroll.
Employees compensated on the monthly payroll are paid on the last workday or banking day of each month. If the last workday is an Institute or bank holiday, payment is made on the day before the holiday.
- Full Month Compensation (other than those on an Academic Contract)
The amount of monthly compensation is equivalent to one-twelfth of the fiscal year annual salary.
- Partial Month Pay Calculation
The number of days worked in a month is divided by the total number of workdays to determine a percentage of compensation for that month. Partial pay is calculated by multiplying the monthly rate by the percentage of compensation.
- Vacation Pay Upon Termination
Terminating vacation pay is calculated by multiplying the daily rate by the total days of accrued vacation leave. The daily rate is computed by dividing the annual salary by 2,080 hours x 8. The maximum accrued leave that can be paid upon termination is 45 days.
- Academic Pay Cycle under the Semester System
Under Georgia Tech's semester system, individuals paid on the academic pay cycle receive 10 monthly payments during the regular academic year. The academic year salary is paid out over the 10 months of the academic contract year: 1/18 of academic year salary in August, 1/9 of academic year salary from September through April, and 1/18 of the academic year salary in May. In other words, the employee receives 1/2 of a months pay in May and August, and a full months pay the other 8 months. The summer session is handled separately during the four months from May through August, with the May and August summer salary payments being added to the employee's regular academic year monthly salary, if any. AMN, AMG, RWA will follow proration rule, effective 08/01/02.
While the above describes the general rule of pay for the academic pay cycle, other job events do have a bearing on a particular individual's pay: pay increases for the new Fiscal Year, terminations, retirements, and leave all affect pay. The following describes in detail the pay rules for August and May under Georgia Tech's semester pay system.
August Payment Rules
August Pay for 9-Month (Academic Cycle) Instructional and/or Research Faculty, Post Docs, and Graduate Students will be paid in compliance with the 10-payment plan described above. The August Pay will reflect the Last Payment for the Summer Session and First Payment for the Fall Semester. Payment rules that will be applied are:
9 MONTH FACULTY:
- Instructional and/or Research Faculty with hired in August will be paid 1/2 of their monthly rate.
- Instructional and/or Research Faculty that are terminating, retiring, or on leave without pay effective the 1st day of the fall semester will be paid only the Summer Pay entered into the Summer Pay Panel or via pay.ask. If no Summer Pay has been entered or submitted via pay.ask, these employees will not be paid.
GRADUATE STUDENTS PAID ON ACADEMIC PAY SCHEDULE:
- Graduate Students pay is prorated according to the number of days worked.
The formula to calculate partial pay for August is:
____ # Days worked divided by Total # work Days in August = ____
% days worked ____ % Days worked times ____ Monthly Rate of Pay = _____August Partial Pay
EX: Jamie Dollar's appointment date is effective 8/21/2006 and the monthly rate of pay is $1500.00. As a result, he will be paid 9 of 23 workdays in August.
9 divided by 23 = .313182 times $1500.00 = $586.96
Please forward all questions to email@example.com
Bi-weekly Staff and Student Payroll
Employees, including students, covered under the Fair Labor Standards Act (FLSA) and hourly appointments for employees exempt from the FLSA are paid bi-weekly.
Hourly appointments of non-exempt staff assigned to a line budget position or a group budget position and hourly exempt staff are paid bi-weekly. Hourly appointments of Graduate Research Assistants, and Student Assistants also are paid bi-weekly. The annual salary is determined by multiplying the hourly rate x 2,080 hours. The gross amount of each check is determined by multiplying the hourly rate of pay by the number of hours reported on the bi-weekly time document.
Pay dates are normally 7 work days after the pay period ends. If the pay date falls on a holiday, including bank holidays, payment will be made on the preceding workday.