Fair and equitable compensation is an important part of personal and professional satisfaction for faculty members. You should study and understand the faculty compensation plan at your institution when you initially negotiate your appointment and each year as your role evolves. This should include how base pay, sources of pay, market adjustments, and incentive payments are determined. You also should remember that many forms of non-salarySalary compensation are important, including space, staff, equipmentEquipment, the availability of sabbatical and other leavesLeaves, career development support, and discretionary fundsDiscretionary funds for your academic and professional activities.