1. Being a paper presented by
Ayodele Samuel Olatiregun
at a 2-day seminar held for Faculty Members and
Staff at
Collective College of Accountancy Ltd, Eleyele
On
July 5, 2009

2.  Preamble
 Lecturer Compensation System: A Process not
an Event
 Overview of the Proposed CCA Performance
Pay Plan
 Base Lecturing Fees Determination
 Bonus Incentive Components
 Setting up a Remuneration Committee
 Participating in the CCA Performance Pay
Plan
 Questions and Answers

3.  Collective College of Accountancy is to
launch an ambitious project to redesign our
traditional lecturer compensation system
with a pay plan that is more closely linked to
lecturer performance
 The Performance Pay plan should eventually
enable a strong link between lecturer
performance and student exam standards
and performance

4.  The performance pay plan for lecturers can
be considered to be an ongoing process and
not a single event
 The College will continually review its
existing reward systems innovatively, in line
with global best practices
 Committees are to be set up amongst
lecturers to make recommendations based on
the proposed suggestions in the paper

5.  The performance pay plan for lecturers is a
plan with two major divisions.
 The first division is comprised of the basic
fee structure for all lecturers in the College.
 The second, and completely distinct from the
first, is a series of bonus incentive
components that lecturers may participate in
voluntarily.
 Lecturers who choose to participate in one or
all of the incentive components can augment
their fees but under no circumstances do
they risk loosing basic fees

6.  This first division establishes a lecturer's base
fee per hour by using a weighted ranking formula
that factors in both a lecturer's number of years
of cognate experience and the level of
academic and professional education a lecturer
has attained.
 Each factor represents a percentage value of the
base fee. Multiplying these two factors against
the base determines the actual fee per hour
(base fee plus additional factor fee) a lecturer
receives.
 The College Board reserves to the right to
evaluate lecturers on an individual basis before
applying Factor Fees and also the right to change
the base fee without notice.

7. Description Factors Basis
1. Base Fee 500 Naira Per Hour
2. Cognate Experience Less than 2 years 10% of Base Fee
2 to 5 years 20% of Base Fee
Above 5 years 40% of Base Fee
3a. Academic
Qualification:
B.Sc, BA, B.Ed,
HND
10% of Base Fee
M.Sc, MBA 20% of Base Fee
PhD 40% of Base Fee
3b. Professional
Qualification
ACA 10% of Base Fee
ACA,ACCA 20% of Base Fee
ACA, ACCA plus
other relevant
qualifications
40% of Base Fee

8.  For example, Mr. Adekunle is a lecturer at Juniper
University, Ibadan with over 5 years lecturing
experience. He has recently been engaged with the
Collective College of Accountancy to lecture F9 –
Financial Management. He holds a First degree in
Economics and a Masters Degree in Banking and
Finance. Mr. Adekunle is also a Chartered Accountant.
His Base Fee is determined as follows:
1. Base Fee N500
2. Cognate Experience 40% of N500 = N200
3a. Academic
Qualification:
20% of N500 = N100
3b. Professional
Qualification
10% of N500 = N50
TOTAL ACTUAL FEE PER HOUR N850

9.  This second division of the Collective
performance pay plan is composed of a series
of incentive bonus components. All of these
components, there are five, are designed to
encourage and reward aspects of lecturer
performance that are not rewarded base fee
scheme. Bonus incentive awards are
completely separate from a lecturer's base
fee and are made as one-time payments,
though eligible lecturers may participate
each year.

10. The five bonus incentive components are:
1. Outstanding Lecturer
2. Skills Blocks
3. Master Lecturer
4. Group Incentive Plan
5. Responsibility Pay

11.  The first incentive bonus component is that of
"Outstanding Lecturer." This component of the plan
rewards lecturers who have demonstrated outstanding
performance as measured by criterion established by the
Remuneration Committee of the College Board with a one-
off N20,000 bonus.
 To receive the bonus lecturers notify the Rector of their
intent to participate; collect artifacts during the calendar
year supporting their contention of outstanding
performance; compile a portfolio that includes relevant
career information, reflective writing on the lecturer’s
educational philosophy, six artifacts and reflective writings
discussing each, information generated by peer and
student surveys, and, their formal evaluation or
professional growth plan. The portfolio is submitted to the
Rector at the beginning of January who then reviews the
documentation and makes the decision whether or not to
award the lecturer the designation of "Outstanding
Lecturer" and the N20,000 bonus.

12.  An appeals process will be developed for
lecturers who are denied the designation of
"Outstanding Lecturer." The appeals board
will be composed of seven members, four
lecturers appointed by the Remuneration
Committee and three members of staff
appointed by the Rector, and has the
authority to review the appeal and
recommend to the Rector that the decision
be upheld or overturned. The final decision
rests with the Rector.

13.  The performance pay plan also includes a "Skill Block"
component designed to provide incentives for
lecturers to obtain skills identified by the College as
central to fulfillment of its mission. Skill blocks are
offered at after-diet sessions and carry graduated
values ranging from N1,000 to N5,000. To receive the
skill block bonus teachers must not only attend
training sessions but must also demonstrate mastery
of the skill through an authentic assessment
administered at the conclusion of the training
program. E.g. the first skills block to be added is
DESKTOP PUBLISHING USING MS-WORD, PAGEMAKER
AND CLARISWORKS.
 It is anticipated that each year a skill block will be
added until the total number available is four or five.
Over time, skill blocks will be phased out and others
added.

14.  Master Lecturer Designation:
- Must have a minimum of three years teaching
experience with Collective College of
Accountancy
- Must have received satisfactory annual
evaluations from the Remuneration Committee
- Must submit three recommendations (with
application form)
- Must be willing to mentor and assess junior
lecturers
- Must be willing to collaboratively plan and teach
with junior lecturers
 Compensation: N100,000 plus CCA Plague

15.  This component is designed to encourage cooperative
efforts within the Faculty to work on common goals that
will directly impact student performance.
 Plans will be developed by Faculty committees (self-
constituted) that work with the entire staff, draft a plan,
collect signatures of support from faculty members, the
Rector and the Remuneration Committee, prior to
submitting the proposal to the Remuneration Committee.
The Remuneration Committee reviews the proposed plan,
can recommend revisions, and grants final approval for the
Faculty Committee to move ahead.
 At the end of the year, the Faculty Committee compiles a
final report detailing the execution of the plan, evidence
of impact on students, and reflections on the overall plan
and submits it to Remuneration Committee, which then
makes the determination whether the plan's goals were
met and a discretionary bonus would be awarded.

16.  The final bonus incentive component addresses the
issue of additional responsibilities undertaken by
lecturers . Responsibility pay is broken into to
divisions: board-committee and centre-based
responsibility pay.
 Board-Committee Responsibility, will be
approximately N60,000 per year, is awarded to
lecturers who take on responsibilities at the board
level.
 Centre Responsibility, will be approximately N30,000
per year, is awarded to lecturers who take on
additional responsibilities at the centre level.

17.  The College is in the process of appointing 3
additional Executive directors and 3 Non-
Executive Directors.
 One of the newly appointed Non-Executive
directors would be saddled with the
responsibility of chairing the remuneration
committee.
 The Remuneration Committee would
comprise the 3 Non-Executive Directors

18.  Participation in the CCA Performance Pay
Plan is voluntary and would be implemented
without prejudice to any lecturer not
participating.
 Participation in the CCA Performance Pay
Plan is, however, highly recommended as it is
expected to be mutually beneficial to the
personal, professional, career and
institutional development of lecturers,
students, the College and the teaching
community.

19.  Any Questions?