University of Louisville trustees recommend pay hike, bonus for Ramsey following compensation study
LOUISVILLE, Ky. (WDRB) -- The University of Louisville Board of Trustees' compensation committee voted unanimously Monday to give U of L President James Ramsey a 6 percent pay increase and a 25 percent annual bonus.
The recommendations, which will be taken up by the full board on Friday, immediately the followed the presentation of a university-funded compensation comparison study finding the pay of Ramsey and a handful of other top U of L officials "generally at or above the market" relative to peer schools.
The study by consultants Verisight Inc., which is expected to cost about $23,000, put Ramsey's total pay -- including deferred compensation and annual bonus -- at just over $1.1 million a year.
Ramsey's pay is 60 percent to 80 percent above the median pay for his peers, depending the on the data source, according to the study.
In a disucssion, several trustees chalked Ramsey's pay up to his tenure on the job since 2002 and the progress of the university, such as a doubling of the graduation rate, now over 53 percent.
"We're looking at all-star president -- akin to what is Kobe Bryant getting paid right now or any other superstar in their prime," said trustee Ron Butt.
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