The union issued a statement Friday saying it can't accept the latest contract offer from the administration because the raises on the table are well below the cost-of-living.
The St. Francis Xavier Association of University Teachers represents more than 400 members who teach and do research.
Union president Peter McInnis says faculty want salary increases on par with other national settlements for academic staff.
The union is also looking for improved health benefits, pensions and funding for professional development.
University president Sean Riley released a statement saying progress has been made on many issues but the university believes the union's demands are not reasonable.