In July, eligible Georgia Tech employees will begin receiving a $2,000 Cost-of-Living Adjustment (COLA) recently approved by Governor Brian Kemp and the Georgia General Assembly.
The majority of pay rate increases will be completed in July; however, there are many unique situations, such as mid-year hires, job changes, and leave statuses, that will require manual pay adjustments until the end of August.
“This cost-of-living adjustment helps support the talented individuals who help our institution thrive,” said Skye Duckett, vice president and chief human resources officer.
“We appreciate the governor and state legislators approving these adjustments. They demonstrate a continued commitment to our employees’ well-being, which includes financial wellness.”
Who is eligible?
The $2,000 salary increase is for all active, regular, benefits-eligible faculty and non-academic staff at Georgia Tech actively employed on July 1, 2023. The increase will be prorated based on employees’ work hours. Employees not receiving benefits, including temporary and those working less than 30 hours, are not eligible for the increase. There may be exceptions to the eligibility population based on unit structure and funding.
When will the COLA increase take effect?
- Eligible employees paid biweekly will see the rate increase in their July 14 paychecks.
- Eligible employees paid monthly will see the rate increase in their July 31 paychecks.
- Eligible faculty on academic year contracts will see the increase on their Aug. 31 paychecks.
More information about the COLA will be provided as soon as it becomes available. Additional details and instructions from the USG are still in draft format until the FY24 budget is approved.