Compensation
Cost of Living Adjustments
Within Georgia House Bill 916, the Governor and General Assembly have proposed a Cost-of-Living Adjustment (COLA) for full-time, benefit- eligible state employees to be effective July 1, 2024. Eligible Georgia Tech employees will receive a 4% increase to base salary, not to exceed $3,000.
The majority of pay adjustments will be completed in July, but there are many unique situations, such as mid-year hires, job changes, and leave statuses, that will require manual pay adjustments through the end of August.
Note: The information below is current as of May 23, 2024. Updates are ongoing. Additional FAQs and details will be published as soon as they become available.
Who is eligible?
The 4% increase to base salary not to exceed $3, 000 is for all active, regular, benefits-eligible faculty and non-academic staff at Georgia Tech. The increase will be prorated based on full-time equivalency (FTE). Employees not receiving benefits, including temporary workers and those working less than 30 hours per week, are not eligible for the increase. There may be exceptions to the eligibility population based on unit structure and funding.
When will payments be issued?
- Eligible employees paid biweekly will see the rate increase in their July 12 paychecks.
- Eligible employees paid monthly will see the rate increase in their July 31 paychecks.
- Academic contracts being renewed effective August 1 will see the rate increase in their August 30 paychecks.
FY25 COLA Town Hall | May 23, 2024
Colleagues from Georgia Tech Human Resources and the Budget Office join Vice President and Chief Human Resource Officer, Skye Duckett. Together, they answer audience questions about the implementation of the increases.