01 October 2026
Neuromatch provides an annual cost-of-living adjustment (COLA) to help protect the real value of staff compensation against inflation. A COLA is a uniform, across-the-board adjustment to base salary. COLAs take effect on 01 January each year and are applied to the first payroll of the new year.
The following are eligible, provided they meet the service requirement below:
- All employees (full- and part-time), and
- Full-time equivalent contractors
To receive a COLA effective on a given 01 January, the individual must have completed at least 12 months of continuous service as of that date — i.e., a start date on or before January 1 of the preceding year. Individuals hired during the year immediately before the effective date are not yet eligible and first qualify in the following cycle.
The COLA is set to match the prior year's inflation in the country where each eligible individual is paid, using the OECD Consumer Price Index (all items, national CPI) as published in the OECD's monthly Consumer Price Index news release. For each individual, the applicable rate is the OECD's reported year-on-year CPI inflation rate for their country of payroll for the most recent September (i.e., the September-to-September 12-month change). This same rate is applied to that individual's base salary in their local currency. Rates are rounded to the nearest 0.1%.
- Where the OECD does not publish a CPI figure for an individual's country of payroll, the OECD-total CPI (all items) for the same September-to-September period is used instead.
- The COLA is never negative: if the reference figure for a given country is at or below zero, the adjustment is 0% and salaries are not reduced.
- The COLA is also capped at a maximum of 5% in any year; in an exceptional high-inflation year, this protects the organization's budget and its grant-costed salaries.
- Notwithstanding the 5% cap, in an exceptional year the Board and CEO may jointly review and approve a higher adjustment where the organisation's finances and grant commitments can sustainably support it.
Neuromatch prioritises awarding the COLA each year. Flat pay loses value as living costs rise, so we treat the annual adjustment as the default, not an optional extra. Anticipated inflation is modelled in our financial runway and budgeting accordingly.
That said, COLAs remain discretionary and depend on Neuromatch's overall financial health and funding. In a year where finances require it, leadership may reduce, defer, or forgo the COLA; any such decision applies transparently across all eligible staff.
Employees whose salaries are funded entirely by grants they bring in are eligible for the COLA on the same terms, with one condition: the increase must be supportable by, and costed into, the relevant grant budget(s). Where existing awards cannot absorb the adjustment, the COLA is deferred for that individual until grant funding allows, or applied at a reduced level consistent with available funds. Soft-Money PIs, working with Neuromatch leadership, are responsible for ensuring future budgets and no-cost extensions reflect anticipated COLAs where possible.
Each year the CEO recommends the COLA rate for Board approval, ordinarily by November so it can be processed for the 01 January effective date. The approved rate, effective date, and any country-specific variations are recorded and communicated to all staff.