A merit raise of 3% sounds really good to me:
James Ramsey, the University of Louisville’s president, got a lot of attention last week for his compensation after The Courier-Journal, in Louisville, reported that he made $1.67 million last year, considerably more than presidents at similar institutions.
On Friday the university’s Board of Trustees still gave him a merit raise, but cut it from the recommended 6 percent to 3 percent.
One trustee called Mr. Ramsey’s pay “unfathomable.” Another said giving him a raise was hurting the morale of the faculty. But other trustees defending his pay, pointing out that he’s brought in millions of dollars to the university and is sought after for other jobs.
via chronicle.com
A 6% raise is more than $100k, probably more than many UofL faculty make in a year.
*From his bio:
Dr. Ramsey is a tenured professor of economics.
