One is the degree of discretion the committee has in the compensation process.

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In full Manual, the exposure compensation dial will be inaccessible and used to display the degree to which, by the camera's reckoning, you are over- or under-exposing.

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What I am about to say next may not be popular among all the advocates in favor of compensation: Is it worth the trouble to measure this to a fine degree?

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The terms under which Fred Wilpon and his company, Sterling Equities are negotiating a settlement with Irving Picard, the man seeking compensation for the Madoff victims, will likely turn one way or another based on the degree to which Picard can show that Wilpon or his people sensed any trouble with the fund before getting out.

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Another alternative, an idea similar to that proposed by my colleague Richard Vedder in his book Going Broke by Degree, would be to offer tenure (or enhanced job security) as one of a number of compensation options for which individual faculty choose from a menu of compensation items, including salary, health and life insurance plans, retirement contributions, and time off, etc.

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