Buyouts generally result in replacing normal academic year funding with alternative funding sources. This can result in the release from teaching (a teaching buyout) or discretionary funds (a research buyout). The two types are described below and the Teaching and Research Buyout Form must be filled out to formally request a buyout or register a cost share requirement as part of a grant award.
Forty percent of a typical regular faculty member’s load is teaching and this typical teaching load consists of two 3-credit courses and three other responsibilities, generally recitation sections or senior design projects. This totals 9 "teaching credits". To determine the cost for a faculty member to buyout of teaching a course by paying a portion of his or her own academic year salary, use the following formula:
[Number of credits released from] x (40% ÷ 9) x [Annual Regular Salary + fringe]. Indirect costs are left out of this equation but may apply.
The salary and fringe will be charged during the semester of the buyout.
Fifty percent of a typical regular faculty member's load is research so the maximum request of research buyout time is generally 50% in an academic year and must take into account other effort requirements. Consult your accountant.
Discretionary Funds, as determined by the following formula, will be transferred to a faculty member's account:
[Percent of research buyout time] x [Annual Regular Salary]. Fringe is not included in the calculation.
Note: These formulas are the same for partial appointments, such as joint appointments of directorships. All buyouts are subject to approval by the Department Head. All teaching buyouts must be in consultation with the Associate Head.