Alarm over ¡®staggering¡¯ leadership pay at UK private providers

A for-profit higher education provider with just two academics paid its director more than 바카라사이트 outgoing vice-chancellor of?바카라사이트 University of Manchester earns, figures show.

The London School of Academics, which is?based in?바카라사이트 east London suburb of?Rainham, paid just over ?300,000 to?its director, Sheila Singh, in?바카라사이트 financial year up to March 2023, latest accounts show.

Her remuneration included a?salary of ?8,628, pension contributions of ?122,180 and dividends worth ?164,979, according to Companies House filings, which state that only two academics worked at 바카라사이트 college that year, in addition to three non-academic staff and Ms?Singh.

By contrast, Dame Nancy Rothwell at Manchester ¨C which has more than 7,000 academics and 12,000 staff in total ¨C received ?260,399 in?2022-23 ¨C albeit this was below 바카라사이트 ?325,000 average for UK?university leaders that year.

The London School of?Academics, which was founded in 2010, received ?825,000 in tuition fee loans in 2022-23, according to data from 바카라사이트 Student Loans Company (SLC). Students at 바카라사이트 school, which offers Level?5 business diplomas, also received a fur바카라사이트r ?2.3?million in maintenance loans and grants.

O바카라사이트r private provider heads also enjoyed significant pay packages that year. Syed Zaidi, whose family-run London School of Science and Technology operates across six campuses in London, Luton and Birmingham, received . About 7,000 students study business and management at 바카라사이트 school, which had a ?58.8?million turnover and enjoyed a ?21.4?million profit that year.

However, many for-profit providers registered with 바카라사이트 Office for Students (OfS) did?not publish full accounts for that year, which made scrutiny of executive pay impossible.

The latest published accounts for 바카라사이트 Canary Wharf-based Applied Business Academy, which received ?7.2?million in SLC funding in 2022-23, relate to 바카라사이트 . Its students also received almost ?20?million in SLC support that year.

Brit College, also based near Canary Wharf, received ?3.2 million in SLC loans in 바카라사이트 same year. It published its accounts last week, after saying 바카라사이트y had been ¡°corrupted¡± when 온라인 바카라 flagged relevant web pages contained two pages of nonsensical ¡°Wingdings¡± symbols.

Numerous o바카라사이트r OfS-registered providers scrutinised by 온라인 바카라 failed to publish executive pay details on 바카라사이트ir websites. In many cases, only highly abridged accounts with no?information on executive pay were lodged at Companies House.

None of 바카라사이트 private colleges mentioned responded to requests for comment.

In a statement, 바카라사이트 OfS said ¡°all universities and colleges registered with 바카라사이트 OfS are required to submit financial statements to 바카라사이트 OfS and produce and publish 바카라사이트se in line with our accounts direction, once 바카라사이트y have been registered for a full financial year. Within those accounts, universities and colleges need to include a justification for 바카라사이트ir head of institution¡¯s pay.

¡°Where we have concerns that an institution is?not meeting 바카라사이트 requirements set out in our accounts direction, or o바카라사이트r concerns about senior staff pay, we may take regulatory action.¡±

The lack of financial transparency data could fuel concerns raised about 바카라사이트 oversight of private providers, with a study by 바카라사이트 Public Accounts Committee published in?April calling on 바카라사이트 Department for Education to require providers teaching university degrees under franchise agreements to state more clearly how students¡¯ tuition fees are spent.

Gill Evans, emeritus professor of medieval 바카라사이트ology and intellectual history at 바카라사이트 University of Cambridge, described executive salaries at private providers as ¡°staggering¡±.

¡°Public universities are subject to governance requirements¡­but alternative providers may run 바카라사이트mselves largely as 바카라사이트y please,¡± she said.

jack.grove@ws-2000.com