The rewards of a career in academia are many. There’s the thrill of research discoveries, the pleasure of teaching, the joy of serving on faculty committees… okay, maybe not so much that last one. And as of next year, professors at Johns Hopkins can look forward to one more potential reward: The university just announced a major new annual prize for faculty members, worth a cool quarter of a million dollars.

According to the Hopkins Hub, the Johns Hopkins University President’s Frontier Award “will be given each year to a faculty member who demonstrates significant scholarly achievement and shows exceptional promise for important future work.” The money can be used for anything that furthers the awardee’s academic work, whether that’s establishing a lab or taking a sabbatical to work on a book. (Sorry, no trips to Tahiti allowed–unless they’re for research purposes, of course.) A $1.25 million donation from alumni Louis J. Forster and Kathleen Pike helped establish the award.

If you know a Hopkins prof who’s worthy, you can nominate him or her before November 10. The first lucky recipient will be announce next spring.