University of Georgia

FY24 Cost of Living Increases

12.05.2023

$2,000 COST OF LIVING ADJUSTMENTS

We are pleased to inform you that the University of Georgia is included in the State of Georgia’s budget for FY 2024, which provides a pay increase of up to $2,000 for all full-time, benefit-eligible faculty and staff effective July 1, 2023.

These increases recognize the dedication of our faculty and staff who have worked tirelessly to serve our students and the citizens of the State of Georgia. This brings the total cost of living adjustment (COLA) to $7,000 over the past two years. We remain grateful to the Governor and the General Assembly for continuing to recognize the talent, hard work, and dedication of our faculty and staff.

We would like to take this opportunity to express our deep appreciation to every member of our university community for the work that you do to help the university fulfill its mission.

Frequently Asked Questions

General FAQ

Business and HR Practitioner FAQ

ADDITIONAL QUESTIONS?
Please do not hesitate to contact your unit’s HR Liaison or contact University Human Resources.

Eligibility & Timing

All regular, benefits-eligible faculty and staff of the University System of Georgia who are actively employed on July 1, 2023, will be eligible to receive this $2,000 increase to base pay COLA. The increase will be prorated based on full-time equivalency (FTE). Non-benefited employees, including temporary employees and those working fewer than 30 hours/week, are not eligible.

Fiscal Year Employees
For eligible 12-month employees, you will see an increase beginning with your July paycheck (7/14/23 for biweekly and 7/31/23 for monthly).

Academic Year Faculty and 9-Month Exempt Employees
For eligible 9-month faculty and exempt employees, you will see an increase beginning with your August paycheck.

NOTE: Please remember that these increases, like all other compensation, are subject to income tax.

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