So, here's the scorecard at the University of Louisville so far.
■ Students: tuition up 3 percent
■ Faculty/staff: salary up 3 percent
■ President James Ramsey: compensation up 6 percent to $1.1 million, including $150,000 bonus.
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It seems to be a case of familiarity breeding not contempt but its opposite.
While the six members of the U of L board's compensation committee likely see relatively little of students, faculty and staff, they have real face time with Ramsey, who spent almost an hour at their meeting recounting his successes.
Still, what makes Ramsey's uber-generous pay increase most striking isn't that it's double that of much-less-well-paid employees and comes as students and their families are, again, saddled with a tuition increase.
The striking thing is that the compensation committee recommended it after receiving a consultant's report showing that Ramsey is already making far more than his peers at similar institutions: 160 percent of the median using one set of data and 179 percent under another.
Ramsey is the highest-paid public university president in Kentucky.
The Louisville Courier-Journal did its own analysis of Ramsey's bloated compensation, published the day the committee met.
It found that Ramsey's 2014 compensation was 53 percent higher than that of Duke University's president, although Duke's endowment is nine times that of U of L.
Ramsey's pay is 2.5 times that of the average of the other 14 Atlantic Coast Conference presidents and chancellors even though, as reporter Andrew Wolfson noted, all those schools "are ranked far higher academically than U of L."
Ramsey's raise isn't set yet. The board of trustees still has the opportunity to put on the brakes, as it should.
There's a great case to be made — and Ramsey himself made it at the committee meeting — that Ramsey has upped U of L's game during his 13-year tenure.
The graduation rate has risen significantly (although still at only 53 percent, about equal with that of Murray State University and below the University of Kentucky's 60 percent), as have enrollment, the ACT scores of new students, and the number of doctoral degrees issued.
All laudable and worthy of reward, but not a blank check. And that's really kind of what this is.
Although the compensation committee evaluated Ramsey based on his performance on a set of goals, the raise, and his compensation, are still out of line compared to his peers.
The consultant recommends that U of L "develop a formal executive compensation philosophy document which would be used as a guide for future compensation decisions."
That's a good place for the board to start.