Compensation Philosophy

Our compensation philosophy supports the College’s strategy and requires alignment and partnership with Human Resources practices as we work determinedly to obtain the best and the brightest through our talent acquisition process. Through creation of a total rewards process with compensation at the foundation, we designed a compensation philosophy that is agile, robust, and innovative in order to meet the needs of all of our current and future community members.

Babson College is committed to being fair, flexible, competitive, and forward thinking when designing and implementing faculty and staff compensation practices including employees who do not necessarily share the same physical location. The College’s compensation program is designed to:

1. Ensure fair and consistent pay practices that are in compliance with applicable federal and state laws and regulations
2. Ensure pay equity-similar pay for similar work, regardless of work location
3. Operate within budget allocations and financial resources
4. Allow the College to offer competitive salaries relative to the labor markets in which the College recruits
5. Ensure alignment with the College’s overall business and educational strategies and goals in order to attract and retain key faculty and staff

Babson considers both internal and external benchmarking factors when making pay decisions and ensures that the external market consists of both academic institutions and where applicable general industry employers with whom we compete for talent with similar skills and experience. We value the contributions of our employees and are committed to benchmarking annually or as needed in order to remain competitive and pay fairly and equitably.​​​​