Flexible merit pay for faculty

Faculty and administrators of medical schools should not depend only upon customary forms of salary administration. Many medical schools and departments set salaries in a manner contrary to the principal mission of the institution. In this approach, the author proposes a versatile, flexible, and cost-effective salary merit pay program. The system not only follows the mission of the institution, it also allows for a stimulating assortment of pay opportunities, and promotes productivity since the faculty members actively design their own programs.