Students are paying extra to go to Texas Tech this year, and professors are reaping the rewards of that tuition hike. Tech's Board of Regent's Finance Committee approved the budget for 2010 Thursday, and the revenue coming in from bigger tuition bills will go towards a merit pay program. Tech set aside $200,000 for their professors that receive good evaluations.
"Most of the increase in tuition is going to trying to keep and recruit better faculty members. We're a little low compared to our competitors, and so we're trying to get our level of pay for our faculty up to the level that our main competitors are," says Texas Tech Chancellor Kent Hance.
Department deans will determine who deserves the raise. Those determinations are based on reviews by other faculty and staff, as well as student evaluations.