This article discusses how one small liberal arts school, Wheaton College in Massachusetts, devised a strategic plan to improve faculty salaries by linking improvements in salaries to improvements in college resources. The benefits of the salary plan went beyond improving salaries. First, the plan dictated that faculty salaries be determined at the beginning of the budgeting process, rather than after other lines had been set. In addition, the salary plan reduced what economists call negotiating costs. With the plan in place, faculty and administrators were freed from the endless (and often contentious) annual meetings at which they had worked out salaries for the next year. The salary plan also made faculty more conscious of the extent of the college's resources. The fact that financial well-being is now directly linked to that of the college, the faculty realized that the success of college recruitment, retention, and development all directly affect faculty salaries.