University of Wisconsin will spend $3 million this year in order to recognize outstanding faculty by rewarding them with raised salaries.

Meredith McGlone, a UW spokesperson said the university believes it is important to recognize and reward the top faculty members.

Although this increase in salaries does not occur every year, the university has tried hard to continue this process throughout the years, she said.

McGlone said the university has been planning this salary increase for months and they keep a level of funds set aside for projects such as these.

“UW has a budget that we can use for high priority strategic initiatives and that’s where the money to fund something like this comes from,” said McGlone.

The university’s salary for faculty members is been lower than other peer universities, according to a survey taken from the American Association of University Professors.

Faculty turnover, promotion and competitive markets all affect salaries, McGlone said.

The average full professor at UW is paid $123,450, $50,000 less than the highest ranked university for full paid professors, University of California-Los Angeles, which pays their full professors $173,860.

With the changes in budget the university hopes to keep the top professors employed. But faculty and staff choose to stay at UW for reasons other than money, such as colleagues they can collaborate with across disciplines and the university’s commitment to public service, McGlone said.

“Clearly money is a factor in how people decide to steer their careers and we hope that this salary change will make a difference in keeping our best faculty here,” said McGlone.