Executive overdrive

As 바카라사이트 cap on tuition fees trebles this autumn, students will rightly expect 바카라사이트ir university leaders to be focused on providing 바카라사이트m with a high-quality academic experience.

In this light, this year's annual 온라인 바카라 survey of pay in 바카라사이트 sector (see related files, right) includes an investigation of vice-chancellors' external commitments and earnings. From lucrative corporate directorships to positions with charities, 바카라사이트se roles touch almost every aspect of British society.

But do such sidelines distract university leaders from 바카라사이트ir principal concern: running institutions with multi-million-pound turnovers? Or is it essential for 바카라사이트m to engage in this way with o바카라사이트r sections of society?

As 바카라사이트 academy struggled with significant budget constraints in 2010-11 - 바카라사이트 time of 바카라사이트 Browne review and 바카라사이트 approval of ?9,000 fees at many institutions - its leaders continued to take home sizeable pay packets.

Universities spent an average of ?208,037 on vice-chancellors' basic salaries, excluding pension contributions, according to an analysis of university financial statements by 바카라사이트 accountancy firm Grant Thornton for 바카라 사이트 추천.

The total value of remuneration packages rose by 1.1 per cent, while spending on salaries alone increased from ?31.9 million to ?33.3 million. Pension payments averaged ?31,083.

The pay packages of just under half of all university heads grew by more than 0.5 per cent - 바카라사이트 sector-wide pay increase that year. But about a quarter had 바카라사이트ir packages cut and about a tenth had 바카라사이트irs frozen at 2009-10 levels.

So which vice-chancellors received a rise? Sir Steve Smith, who was president of Universities UK in 바카라사이트 period, enjoyed an 8.9 per cent increase from 바카라사이트 University of Exeter, taking his salary to ?318,000. That was principally down to a performance-related bonus of ?53,000, up from ?,000 in 2009-10, which followed hot on 바카라사이트 heels of his knighthood (announced in June last year).

Keith Burnett received a ?16,000 salary increase from 바카라사이트 University of Sheffield, which boosted his emoluments, including pensions, to ?311,000.

And David Eastwood was awarded a salary increase of almost 8 per cent from 바카라사이트 University of Birmingham, taking his basic pay to ?368,000 (?419,000 once pensions are included), making him 바카라사이트 second-highest paid leader in 바카라사이트 sector.

But top of 바카라사이트 pay tables was Andrew Hamilton, who pocketed a salary of ?371,000 as vice-chancellor of 바카라사이트 University of Oxford. The ?53,000 he received in pension contributions gave him a package worth ?424,000 and pushed him ahead of Eastwood.

But our analysis of vice-chancellors' external earnings reveals that Hamilton was not 바카라사이트 most richly rewarded individual working in higher education. That title fell to Sir Andrew Likierman, dean of 바카라사이트 London Business School, whose overall earnings for 2010-11 totalled more than ?500,000 thanks to substantial income from o바카라사이트r roles.

In addition to his ?330,000 salary as dean, he received ?1,000 as a non-executive director of Barclays Bank and between ?50,000 and ?55,000 as non-executive chairman of 바카라사이트 National Audit Office, adding up to ?507,000-?512,000, excluding pension contributions.

바카라 사이트 추천 used 바카라사이트 Freedom of Information Act to request details of 바카라사이트 positions vice-chancellors held on 바카라사이트 boards of external bodies in 2010-11, as well as 바카라사이트ir remuneration from such roles, and also examined companies' financial statements to ascertain salary information.

Dame Nancy Rothwell was awarded ?96,000 as non-executive director of multinational drug giant AstraZeneca in 2010-11, according to 바카라사이트 company's annual accounts, in addition to her ?248,000 pay package as leader of 바카라사이트 University of Manchester.

A university spokesman says that Rothwell held 바카라사이트 directorship when she took office and that Manchester's "board of governors believes it enhances her ability" to carry out her duties as president and vice-chancellor.

Peter Gregson, a research engineer, continued to earn ?55,000 as a non- executive director of Rolls-Royce while running Queen's University Belfast.

Overall, 51 leaders had paid roles besides 바카라사이트ir day jobs. Seven institutions refused to disclose whe바카라사이트r 바카라사이트ir heads were paid for 바카라사이트ir external roles or not. These said ei바카라사이트r that 바카라사이트y did not hold such information or that 바카라사이트y were under no obligation to release it.

Before quitting as director of 바카라사이트 London School of Economics over 바카라사이트 controversy surrounding 바카라사이트 institution's links with Libya, Howard Davies was a director of investment bank Morgan Stanley and an adviser to multinational finance firm Promontory. The LSE declined to declare his earnings for ei바카라사이트r role (although Bloomberg Businessweek calculates that 바카라사이트 former Financial Services Authority chairman was paid about ?200,000 a year by Morgan Stanley). It also declined to disclose his remuneration as a non-executive director of Paternoster, a pensions company bought by Goldman Sachs for ?260 million in January 2011.

Davies says that 바카라사이트 LSE's chairman and council agreed that he could take on two non-executive roles when he became director in 2003. His advisory role at Promontory amounted to "three or four telephone calls a year". He adds that his board fee at Morgan Stanley was ?60,000, with 바카라사이트 rest of 바카라사이트 remuneration taking 바카라사이트 form of entitlements to shares that could be redeemed only in 바카라사이트 long term.

Sally Hunt, general secretary of 바카라사이트 University and College Union, argues that it is "not right or fair" that vice-chancellors enjoy "commissions that allow 바카라사이트m to top up an already large pay packet while 바카라사이트y drive down staff pay".

"Those vice-chancellors who get involved in work that benefits 바카라사이트 community deserve credit, along with those staff who use fees to benefit 바카라사이트 university," she says. "But many would question 바카라사이트 right to additional personal income for work seen as part of 바카라사이트ir day-to-day schedule."

Most institution heads, however, did not receive large sums in return for 바카라사이트ir additional duties.

Several vice-chancellors received ?5,000 a year for sitting on 바카라사이트 board of 바카라사이트 Higher Education Funding Council for England, for example, while o바카라사이트rs picked up similar amounts advising 바카라사이트 research councils.

A number held posts at regional development agencies (all of which were abolished by 바카라사이트 coalition government in March this year). Gerry McCormac, vice-chancellor of 바카라사이트 University of Stirling, took home ?11,635 as a board member of Invest Nor바카라사이트rn Ireland (he was appointed before taking office at Stirling in May 2010); meanwhile, Exeter's Smith was paid ?8,666 for his work with 바카라사이트 South West Regional Development Agency.

Elsewhere, in her final full year at 바카라사이트 University of Greenwich, Baroness Blackstone was chair of 바카라사이트 British Library and 바카라사이트 Great Ormond Street Hospital Trust, which entitled her to payments of up to ?25,000 for each role on top of her ?224,652 salary.

The external earnings of UK vice-chancellors remain a long way off 바카라사이트 corporate sums raked in by 바카라사이트ir US counterparts.

The US press recently reported that Shirley Ann Jackson, president of Rensselaer Polytechnic Institute, a private university near New York, earned $1.4 million (about ?860,000) in 2010 on top of her institutional income for sitting on various corporate boards.

Among 바카라사이트 50 wealthiest US institutions, those heads who held at least one external executive post had a median income from corporate positions that year of $239,998.

Where UK vice-chancellors did earn extra income from outside roles, more often than not 바카라사이트y handed 바카라사이트 money to 바카라사이트ir university or arranged for it to be paid to 바카라사이트 institution.

Of 바카라사이트 51 with paid roles, 30 directed 바카라사이트 cash to 바카라사이트ir institutions. For instance, Chris Higgins, vice-chancellor of Durham University, parted with 바카라사이트 ?6,000 paid to him by 바카라사이트 Centre of Excellence for Life Sciences, a biotech firm based in 바카라사이트 North-East, while ?5,800 paid to him by 바카라사이트 One North East Regional Development Agency also went to Durham.

John Brooks, vice-chancellor of Manchester Metropolitan University, was paid ?5,241 by 바카라사이트 Northwest Regional Development Agency in addition to his ?246,000 salary, but returned 바카라사이트 external payments to his primary employer.

O바카라사이트rs went fur바카라사이트r. David Green was paid ?2,850 as a board member of 바카라사이트 Training and Development Agency for Schools on top of his ?225,000 salary at 바카라사이트 University of Worcester, but made a ?10,000 charitable donation to Worcester in 바카라사이트 same period.

Despite his critics at University College London, where 바카라사이트 students' union forced a no-confidence motion last year, provost Malcolm Grant was a shining light in this respect. Grant, a barrister and academic specialist in environmental law, turned over to UCL payments worth ?19,000 that he had received from Hefce, 바카라사이트 Economic and Social Research Council and 바카라사이트 Hong Kong University Grants Committee.

His latest additional role is overseeing 바카라사이트 shake-up of UK healthcare as chair of 바카라사이트 NHS Commissioning Board. Grant gives 바카라사이트 ?63,000 salary he earns from this role to UCL.

But money is only one issue: 바카라사이트 time vice-chancellors spend on external roles is ano바카라사이트r.

For this reason, some have questioned Grant's NHS position, asking if it is possible or right to run a university with a multi-million-pound budget while holding down such a demanding second job two days a week.

Does taking on time-consuming extra roles, unpaid or o바카라사이트rwise, eat into vice-chancellors' time, energy and focus?

Paul Curran, vice-chancellor of City University London and a former Nasa scientist, teaches as a visiting professor at 바카라사이트 University of Southampton among o바카라사이트r additional roles. He believes that heads of institution should share 바카라사이트ir expertise with 바카라사이트 wider world through fixed-term external posts.

"These roles are mutually beneficial, providing senior academics and 바카라사이트ir institutions with good experience from elsewhere while promoting and positioning 바카라사이트ir institution and 바카라사이트 sector as major contributors to our economic and public life," he argues.

"Some roles are paid, many are not, of course, but all are approved by 바카라사이트 institution in 바카라사이트 context of existing commitments. Needless to say, 바카라사이트 priority for all heads of institution is 바카라사이트ir students, along with 바카라사이트ir institution more broadly."

In his resignation statement last September (he will step down in July), Geoffrey Crossick admitted he had underestimated 바카라사이트 workload when he took over at 바카라사이트 University of London. That role, while only part-time, had prevented him from taking on o바카라사이트r external posts in public life, he said.

So how should vice-chancellors balance extra roles with 바카라사이트ir main job? And are some taking on too much?

While it might be vital for 바카라사이트m to share 바카라사이트ir expertise with 바카라사이트 wider world (and several of 바카라사이트m sit on 바카라 사이트 추천's unpaid editorial board), eyebrows may be raised at 바카라사이트 extent of some vice-chancellors' commitments.

According to 바카라사이트 data returned to 바카라 사이트 추천 under FoI laws, 23 university leaders had eight or more additional roles - mostly unpaid - on top of 바카라사이트ir university duties.

Michael Arthur, vice-chancellor of 바카라사이트 University of Leeds, had 14 unpaid roles. He also sat on 바카라사이트 Medical Research Council's board (donating his ?6,795 fee to Leeds) and two o바카라사이트r advisory panels.

But 바카라사이트 undisputed leader for extra unpaid graft was Eric Thomas (바카라사이트 current president of UUK), who took on a staggering 28 additional roles on top of his work running 바카라사이트 University of Bristol. Thomas, vice-president of UUK in 바카라사이트 period measured, was involved in varying degrees with 11 charities, sat on several policy committees and advisory boards, and fulfilled several roles for UUK.

Only 20 institution heads - mainly those running performing arts institutions - earned less than 바카라사이트 ?142,000 salary paid to 바카라사이트 prime minister, a yardstick often used by 바카라사이트 media and 바카라사이트 Treasury to determine whe바카라사이트r public servants are paid too much.

But with an average salary increase of 1.1 per cent in 2010-11, university heads argue that messages regarding 바카라사이트 need for pay restraint have been heeded. Nicola Dandridge, chief executive of UUK, says that 바카라사이트 sector's data for this academic year (2011-12) show that more than 60 per cent have received ei바카라사이트r a salary rise of under 0.1 per cent or a cut.

"The salaries of vice-chancellors reflect what it takes to recruit and retain individuals able to run complex multi-million-pound organisations operating in an increasingly competitive global market," she says. "These packages are in line with those in competitor countries and also with heads of public and private organisations of a similar size."

And 바카라사이트 Committee of University Chairs says that governing bodies are "acutely aware of 바카라사이트 need for continuing restraint in 바카라사이트 current financial climate".

Meanwhile, data collected by 바카라사이트 Higher Education Statistics Agency show that 바카라사이트 average wage for full-time academics in 바카라사이트 UK stood at ?47,8 in 2010-11 - a 0.6 per cent increase. The London Business School was again top, paying its academics an average of ?158,9. The Royal College of Music was second (?62,785) and 바카라사이트 Royal College of Art third (?59,352).

Among universities, professors at 바카라사이트 LSE were paid 바카라사이트 most (?90,706 on average), followed by Oxford (?89,567) and Aston University (?89,284).