COLA Announcement The NSHE Board of Regents approved a 12 percent increase in the base salaries of all NSHE professional staff as a cost-of-living adjustment (COLA), effective July 1 for FY 2024.
June 30, 2023
Dear Wolf Pack Family,
Earlier today the Nevada System of Higher Education (NSHE) Board of Regents approved a 12 percent increase in the base salaries of all NSHE professional staff as a cost-of-living adjustment (COLA), effective July 1 for fiscal year 2024.
The University is pleased that in addition to this 12 percent COLA for our professional staff, the 2023 Legislature approved a 12 percent COLA for classified staff and 13 percent COLA for those covered under the NPU and AFSCME Collective Bargaining Agreement.
The legislature, however, funded only a portion of the COLA for state-funded positions, appropriating only 61.45% of the total cost of the COLA to the University. The University will now identify state approved institutional funding to ensure that the entire 12 percent COLA is funded for state-funded employees. We will do this knowing that although there will be impacts regarding hiring for budgeted positions, a fully-funded COLA for our faculty and staff is the priority. We will carefully weigh all of our options to address the cost of living adjustments.
More information will be made available soon about how the COLA will impact our campus.
I wish to thank the Board of Regents and Acting Chancellor Dale Erquiaga for their work in making today’s approval possible. We are extremely pleased to see that the employees of our University were provided with needed financial incentives that have been a long time in coming. All of your work in furthering our institutional mission is truly extraordinary and speaks to the commitment all of you have made to our University. Thank you for all that you do.