A large number of faculty retirements in the next decade means that the demand for candidates will exceed the supply, making competition for the most promising faculty members more intense and costlier than ever.
And it’s not just competitive salaries that drive these sought-after professors. Increasingly, they require specialized equipment, sophisticated computer systems, travel support, and additional graduate assistants to be part of their research or performance teams.
Clearly, the start-up costs for a new faculty hire are substantial.
To meet the rising costs of hiring and retaining exceptional faculty, the Syracuse University requires funds to endow deanships, chairs and professorships, and for faculty recruitment and retention, start-up costs, and professional development.
There are many endowed gift opportunities for faculty campus-wide. In all cases, dollar amounts represent minimum giving levels to establish an endowment fund; actual levels vary by school, college or unit.
Chancellor’s Chair $5,000,000+
This type of endowment enables SU to support scholars of unusual distinction. These individuals not only raise the level of academic discourse throughout the University, they attract other top faculty and students and increase outside funding from corporations, foundations, and federal sources.
Endowment funds in support of existing deanships allow SU to attract and retain the best possible deans.
Funds contributed to establish an endowed chair support Syracuse University’s efforts to attract and retain scholars of national and international acclaim.
Trustee Professorship $1,500,000+
A trustee professorship is a University-wide distinction reserved for a small number of exceptionally high-level faculty who merit substantial supplementary resources to support their continuing scholarly activities.
By offering increased compensation and other types of direct support for scholarly activities, endowed professorships support teaching and research by outstanding faculty. Such endowments encourage and reward faculty with stipends for summer research and time for curriculum development and writing.
Visiting Professorship/Professor of Practice $750,000+
This type of endowment fund enables the University to bring prominent scholars and executives to campus on a rotating basis, usually for a semester or less. Endowment income is used to cover travel costs, honoraria, and other expenses.
Associate/Assistant Professorship $600,000+
Endowed associate or assistant professorships provide annual income to support the professional development activities of young faculty members. These can include attending or presenting at conferences, traveling abroad for scholarly research, and publishing academic papers.
Distinguished Teacher/Scholar $500,000+
These awards give the University a flexible way to honor faculty who perform at the highest possible level. Funds for these endowments allow schools and departments to supplement the compensation of these exceptional individuals.