Average Russell Group vice-chancellor pay package hits ?400,000

Russell Group vice-chancellors¡¯ average pay packages have hit ?400,000, despite 바카라사이트 financial crisis in UK?higher education.

Analysis of 바카라사이트 2023-24 accounts of 19?members of?바카라사이트 prestigious mission group published to?date show that 바카라사이트 median pay package of?vice-chancellors ¨C which typically also includes benefits such as housing and pensions ¨C was ?400,000 in?2023-24.

This was up 1?per cent on 바카라사이트 figure of ?396,000 across 바카라사이트 same 19?institutions in?2022-23, and a 5?per cent increase over two years.

Front-line higher education staff received a minimum pay rise of 5?per cent in?2023-24.

However, 바카라사이트 final average vice-chancellor pay rise across all 24 Russell Group members ¨C and across 바카라사이트 sector as a whole ¨C will not be known until early next year.

The extent of 바카라사이트 financial crisis in UK higher education is being laid bare by 바카라사이트 publication of 2023-24 accounts, which reveal large deficits at a?number of?universities, including Russell Group members. Many institutions are making job?cuts.

The university allocating 바카라사이트 most?to vice-chancellor pay out of 바카라사이트 19?analysed to date was 바카라사이트 University of Leeds, which spent ?694,000 on its two leaders during 2023-24. As 온라인 바카라 has reported, former vice-chancellor Simone Buitendijk left with a?final pay packet worth ?434,000, including ?288,000 in ¡°contractual post-employment notice pay¡± and ¡°compensation for loss of?office¡±.

The largest individual total remuneration went to Deborah Prentice at 바카라사이트 University of Cambridge.

Her remuneration package of ?577,000 for her first full year as vice-chancellor included a?base salary of??409,000, along with ?42,486 in relation to relocation expenses, ?29,177 in accommodation, utilities and property taxes, and personal travel costs of??22,564.

This was followed by ?573,000 for Irene Tracey at 바카라사이트 University of Oxford, who received a salary of ?410,000, and an accommodation payment worth ?100,000.

The vice-chancellors of Oxford and Cambridge also received 바카라사이트 largest base salaries of 바카라사이트 group, followed by Michael Spence at University College London (?398,000).

The median vice-chancellor salary paid by 바카라사이트 19 Russell Group members stood at ?327,000 last year ¨C up 3.5?per cent from ?316,000 in 2022-23. It?was also 9?per cent more than 바카라사이트 ?300,000 that 바카라사이트 same universities paid in?2020-21.

The London School of Economics and Political Science paid a total of ?528,000 to interim vice-chancellor Eric Neumayer and his permanent successor, Larry Kramer. Within that, 바카라사이트 institution paid Professor Neumayer ?47,000 for working in 바카라사이트 LSE summer school and for an annual review, while Professor Kramer received ?47,000 in a joining fee.

The lowest total package was again at 바카라사이트 University of Manchester, where Dame Nancy Rothwell received ?268,000 in?her final year as?vice-chancellor.

patrick.jack@ws-2000.com