Compensation and Benefits

Human Resources
 BanStaff

We have a long term strategy regarding Compensation and Benefits, our strategy can be summarized as:

 

Focus2

 

We attract and retain the best professionals and we are proud to be the employer of choice for most of the international professionals who we interview. Our salary scale has been developed considering education, professional development and experience thereby ensuring high standards of teaching.

Our compensation package includes an annual compensation which is reviewed according regional trends, and extensive benefits above market. Our salary ranges for 2016-2017 start at USD 26,117 up to USD 56,010. If you want to know more about our salary policy, please click here. The benefits include:

  • Housing allowance
  • Settling in allowance
  • Shipping allowance to/from home of record
  • Matching retirement savings fund up to 5% of annual salary (first year); 8.33% (second year)
  • International medical insurance coverage including dependents
  • Fully funded life insurance coverage
  • Interest free car loan (upon approval)
  • Annual summer travel allowance for faculty & dependents
  • Extensive professional development opportunities
  • Education scholarship for up to 2 accompanying children
  • Comprehensive leave policy (personal, medical, bereavement, maternity, paternity, recruitment)
  • Bonuses (holiday, lunch, end of contract)
  • Staff bus transportation options
  • Transportation from and to home of record
  • International renewal contract
  • Longevity bonus

 

 

Cost of Living

To determine cost of living in Quito, Ecuador please refer to this online resource.

Please note that the rent identified in this resource refers to rent in the center of Quito and is higher in neighborhoods with easy access to Academia Cotopaxi. Minimum cost for a taxi in Quito is 1 USD. For more information on cost of living, please  refer to our Life in Quito blog.

 

 

Insurance

The School will pay medical insurance premiums for a major medical policy for professional staff members and their spouses and legally dependent children.  Policies will carry a co-payment responsibility and take effect 1 August of each year.  Staff members whose spouses and dependent children have medical insurance coverage provided by an employer of the spouse or dependent children are not eligible for this benefit.

Should the school incur a surcharge for employees who have children aged 24 or younger studying as full-time students and residing in North America, or any other special condition, that surcharge will become the responsibility of the employee.

The School may subsidize the deductible in order to reduce the impact on claimants.

For information on insurance for foreign hired employees. Visit BMI websites:

 

international

and while

in Ecuador.

 

 

 

Salary Policy

We determine salary using a scale that is based on a combination of years of experience and formal education.

Professional staff members (for example: Principals, Teachers, Counselors, Librarians, Learning Specialists) are generally employed on a twelve-month fiscal year beginning August 1st and ending on July 31st.  All salary and benefits are paid in direct proportion to assigned workloads.

In order to be placed on the Cotopaxi Salary Schedule, Professional Staff must submit proof of an undergraduate degree or graduation from a 4-year university or college program or the equivalent, proof of an earned graduate degree (if claimed), and transcripts showing any graduate school credits earned beyond the most advanced degree earned degree.

All Professional Staff at Academia Cotopaxi are placed on the same salary scale, which includes all benefits required under Ecuadorian Law.  Salaries are paid as a proportion of the contracted work load.  The salary step is multiplied by the percentage load to determine the final salary.

Hours on the salary schedule are semester hours.  Quarter hours are converted to semester hours by multiplying the number reported by 2/3.  Initial placement is determined by review of each person’s resume, diplomas and transcripts and approved by the Director.

Professional staff members may transfer up to 8 years of prior full-time teaching experience for initial placement on the salary schedule (STEP 8).  Experience must be in a school that is fully accredited by a U.S. agency or its equivalent, although the Director may accept years of experience from other schools when appropriate to the situation at hand.  Only full years of full-time experience qualify for transfer: part-time work and substitute work are not acceptable for transfer credit.  Professional Staff who leave Academia Cotopaxi and return at another time are subject to the same rules for initial placement as those entering the school’s employ for the first time.

The annual salary includes the total of all benefits required under contract and applicable law.  Professional staff members must comply with all legal requirements of the Ecuadorian Ministry of Finance and Ecuadorian Social Security (IESS).