Salary Strategy of Reykjavik University

Reykjavik University (RU) determines salaries based on job requirements with regards to education, knowledge, competence and responsibility. The RU Salary Strategy is in accordance with the Human Resource Strategy of RU.

• Reykjavik University has individual-based employment contracts and is not party to general wage agreements.
  
• RU is obligated to offer overall terms of employment (payments and perquisites) that are no worse than what is provided for in general wage agreements.
  
• Reference wage agreements are used as regards illness rights and holiday rights of employees, but solely in those instances. This, for example, does not apply in relation to period of notice or other employment terms.
  
• Decisions on wages are documented, supported with arguments, traceable and signed by responsible parties.
  
• Salaries are influenced by the scope and nature of a position and are determined by factors such as education, experience, knowledge, competence, responsibility, performance, job pressure, authority, cooperation abilities, management and extent of projects.
  
• Prerequisites for salary decisions are that the decisions are in accordance with the salary structure of RU, supported with arguments and that they ensure that the same salary is paid for comparable or equally valuable work.
  
• Decisions on salary changes are made by the RU Executive Board once every year. The Executive Director of Human Resources and Quality reviews the salaries of all permanent employees twice a year; when a decision on overall leeway to increase salaries is made in preparation for the annual budget, and during the annual salary review and salary interviews, to ensure that there is consistency in the salary amounts. The salary review of RU is carried out annually in February/March but changes are applicable from 1 January each year.
  
• Job descriptions for all positions shall be in place at RU. These shall specify all the main aspects of a position, such as requirements for education, competence, experience and the responsibility that the position entails.
  
• RU has the goal of ensuring that all employees enjoy equal salaries and terms of employment for the same or equally valuable positions so that no salary difference exists. Everyone must be ensured equal possibilities for jobs, responsibility, salaries, promotions, continuous education and professional training.
  

The Rector is responsible for the Salary Strategy of Reykjavik University. The Rector is also responsible for the Equal Pay Strategy of RU and that legal requirements and other requirements that concern the equal pay system are adhered to. The Executive Director of Human Resources and Quality attends to the enforcement of the Salary Strategy, in addition to implementation of the equal pay system, as well as review, maintenance and constant improvements to the system.