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President Ramsey’s refusal to take a 5% raise because it exceeds the 3.8% average salary increase awarded other staff members was a noble gesture. His subsequent acceptance of a 25% bonus on the condition that it be presented as part of his original salary, however, does not follow.
The U of L Foundation’s $75,427 bonus for Ramsey would comprise one quarter of his $362,048 compensation, for a grand total of $437,475.
By comparison, UK President Lee Todd is paid $272,852, plus a possible $100,000 bonus. The President of the United States of America nets $400,000.
This bonus also precedes a promised 3% salary hike for 2003-04, and an additonal 3% increase in his foundation pay.
Given last year’s state budget cuts– which cost U of L millions in funding– and tution hikes both recent and imminent, these numbers should raise eyebrows among the campus community; Ramsey’s lauded performance notwithstanding.
While the trustees’ compensation committee rightly favors performance based compensation, the question is whether a given administator delivers stellar performance or merely does well the job they are paid to do.
As for retaining talented and competent administrators, extravagant pay cannot guarantee future service or performance.
John Shumaker earned a comparable salary as U of L president, and left for more money at University of Tennessee. He recently resigned under duress over questionable spending practices.
If the foundation approves Ramsey’s bonus, it should do so because he is taking U of L in the right direction.Bigger bonuses can be awarded later without reservation if he can keep U of L’s budget in the black.
