The cops in my area I recently found are starting well over 60000 a year, closer to 70000. And they're some of the biggest pricks around. It's a rarity to see someone pulled over without seeing a line of cop cars form, apparently to give a speeding ticket. And, when going down to the station, trying to get them to file a report or do something about an assault is like pulling teeth, as one of my friends found not too long ago. An assault, with witnesses, and first they were made to wait for well over an hour and then several cops told them there was nothing that could be done and tried to dismess them. They ended up going to the county sherif's office to talk to someone they knew, and then finally the cops got off their asses and did something.
If you want cops to be properly compensated, tie their pay to the crime rates. If they can't/won't keep them down, their pay drops. And make sure the weighting is mostly on violent crime followed by property crimes.