They've just added this position to our school called "Research Faculty". They are soft money supported and have no teaching load. Often they will be attached to some research institute.

Soft money supported versions are fairly common - mine's got a substantial hard money component, which is what makes it rare and honestly a little bit wonderful.

What’s soft vs hard money ?

Soft Money: A position where a substantial portion (usually 50%+) of one's salary is expected to be brought in by grants. Failing to do so is, at best, going to impact your salary, and at worst, is a good way to no longer have a job.

Hard Money: University-level funds (from the university, the state if a state school, etc.) provide a portion of your salary that doesn't have to be tied to a grant. This often comes with other obligations (i.e. teaching).

Most positions are a mix of the two in some form. Purely soft money positions, or >50% soft money positions, are common at some research institutes, medical schools, etc. Hard money positions that don't come with substantial non-research obligations are very rare.

Thanks.