North Carolina Equity Compensation Plan
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How to fill out Equity Compensation Plan?
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FAQ
The North Carolina state budget provides for a base salary increase of 4% for SHRA and EHRA employees in 2023. Information about the implementation of the legislative salary increase is below.
Salary Grade: NC08 Salary Range: $35,788 - $62,628.
Beginning teacher pay is set to increase from $37,000 to $41,000 over the next two years, ing to the budget ? an increase of 10.8%.
All EHRA faculty, EHRA nonfaculty and SHRA employees will receive a 4% legislative salary increase to their base salary if they meet the eligibility requirements for the increase. The LSI is retroactive to July 1, 2023.
Retention Bonuses: Provides bonuses in FY 2023-24 to all state employees and state-funded local employees regardless of funding source. These funds will be used to provide a $1,500 bonus to employees making less than $75,000 per year and a $1,000 bonus to all state employees making more than $75,000 per year.
Under the proposed budget, most state employees would receive a 4% salary increase for fiscal year 2023-24 and a 3% raise for fiscal year 2024-25.
The new state budget, which passed Sept. 22 and became effective on Oct. 3, included base salary raises ranging from 3.6 to 10.8% for teachers over the next two years ? with larger raises going to beginner teachers. The salary raises for all employees are retroactive to July 1.
Equity compensation, also known as share-based compensation, is a type of non-cash pay that a company offers to employees to partake in ownership of the firm.