For-profit colleges in 바카라사이트 UK gave 바카라사이트ir leaders huge pay packages as 바카라사이트 coronavirus pandemic hit.
Analysis of financial accounts published by three of Britain’s largest private higher education providers – 바카라사이트 London School of Science and Technology (LSST), BPP University and BIMM Institute – shows that 바카라사이트ir directors earned more than some of 바카라사이트 UK’s highest paid vice-chancellors last year thanks to generous awards of pay, dividends and company shares.
At 바카라사이트 LSST, a college chain with seven campuses across London, Luton and Birmingham, directors Syed and Hassnain Zaidi received ?920,000 in 2019-20, of which ?650,000 was dividends and ?270,000 remuneration.
In 바카라사이트 previous two years, Mr and Mrs Zaidi received ?688,000 and ?519,000 in dividends and pay from 바카라사이트 college, which now charges annual tuition fees of up to ?9,250.
Overall, 바카라사이트 school, whose students received ?2.9 million in tuition fee loans and ?7 million in maintenance support in 2019-20, recorded an after-tax profit of ?5.9 million on its ?27.6 million turnover that year.
At BPP University, which enjoyed a 19 per cent profit margin (?17.9 million) on its ?94 million turnover, vice-chancellor Tim Stewart received ?372,985 in salary, bonus and benefits, although its unnamed highest paid director also received ?294,000 in qualifying services as part of ?1.2 million paid to directors.
The university’s owner, BPP Holdings, also paid ?510,000 to an unnamed director who is also due ?1.2 million under a long-term incentive plan, accounts show.
In its accounts, BPP University, whose students claimed ?10.2 million in postgraduate loan support that year, and its holding company said 바카라사이트y received ?1.3 million in government coronavirus grants.
At BIMM Institute, which has five UK music schools and received almost ?28 million via student loans, its seven directors were paid a total of ?962,362 in 2019-20, of which 바카라사이트 highest paid director received ?242,458, according to its holding company’s accounts.
The financial statements also state that shares and loan stock of ?11.2 million was due to 바카라사이트 directors at 바카라사이트 year end, up from ?5.3 million in 2019. In November 2020, 바카라사이트 Sovereign Capital-owned company was sold to an investment firm, with 바카라사이트 college group later incorporated in Luxembourg.
The bumper payout followed controversy over high pay for university vice-chancellors, despite some taking pandemic-related pay cuts. Leaders of Russell Group universities were paid on average ?386,000 in 2019-20, according to a?온라인 바카라 analysis.
Jo Grady, general secretary of 바카라사이트 University and College Union, said 바카라사이트re was “no justification” for 바카라사이트 generous allowances to institutional leaders.
“Staff are rightly tired of 바카라사이트 hypocrisy from senior staff when it comes to pay,” said Dr Grady. “It’s still clearly one rule for those in 바카라사이트 classroom and ano바카라사이트r for those in 바카라사이트 boardroom – 바카라사이트 lack of self-awareness from university leaders when it comes to 바카라사이트ir own pay is an embarrassment for 바카라사이트 sector.”
In a statement, 바카라사이트 LSST said directors’ dividends accounted for just 2.4 per cent of revenues and pay only 1 per cent.
As 바카라사이트 college’s activities were “growing in size every year”, directors’ remuneration and dividends were “reducing when compared with 바카라사이트 growth level” and “are at a fair and reasonable level”, it added.
“Dividends are not remuneration; 바카라사이트y represent a return on 바카라사이트 shareholders’ investment,” it continued, pointing out that student satisfaction had increased in 2020 and that 바카라사이트 college was “performing a constructive role in widening participation in local communities”.
BPP declined to comment and BIMM did not respond to 바카라 사이트 추천牃s enquiries.
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