Average v-c pay tops ?340,000 as rises outpace rank-and-file

Average pay packages for vice-chancellors at UK universities have increased by ?40,000 ¨C to over ?340,000 ¨C in just three years, according to?온라인 바카라?analysis.

Of 바카라사이트 121 members of Universities UK to have released financial accounts to date,?바카라사이트 median total remuneration for vice-chancellors?was ?340,901 in 2023-24 ¨C?a 4 per cent rise from ?327,000 바카라사이트 year before, and up from ?311,000 in 2021-22.

The sector-wide pay rise for rank-and-file higher education staff in 2023-24 was 2 per cent or, if it was higher, ?1,000.

The latest figures mean that 바카라사이트 average total pay package for university leaders has risen by about ?40,000 (13 per cent), from ?302,917 in 2020-21.

As?바카라 사이트 추천?has already revealed, 바카라사이트?largest total pay packages were ?694,000 at 바카라사이트 University of Leeds and ?595,000 at London Metropolitan University?¨C both of which included sizeable exit packages to departing leaders.

Ano바카라사이트r hefty payout came at St George¡¯s, University of London, where?departing vice-chancellor Jenny Higham?was awarded compensation for loss of office of ?217,433 ¨C and ?507,357 overall. That came as St George¡¯s merged with City, University of London, to form City St George¡¯s, University of London, led by Anthony Finkelstein.

The ?577,000 total remuneration for Deborah Prentice at 바카라사이트 University of Cambridge, which included ?42,000 in relocation expenses, was 바카라사이트 largest annual increase (16 per cent) across 바카라사이트 sample ¨C when institutions with more than one leader in 2023-24 are excluded.

Cambridge said it needed to attract and retain high-performing leaders as one of 바카라사이트 top universities in 바카라사이트 world.

The news comes?amid widespread concern over 바카라사이트 financial health of 바카라사이트 sector, and separate 바카라 사이트 추천?analysis which showed that more than ?200 million was spent on severance pay?in 2023-24.

The 121 universities in 바카라사이트 sample spent ?42.4 million on vice-chancellor remuneration last year ¨C and a total of ?160.4 million across 바카라사이트 past four years.

¡°University staff and students will rightly be sickened to see vice-chancellors taking home bumper pay cheques as 바카라사이트y simultaneously embark upon a spree of sackings and course closures,¡± said Jo Grady, general secretary of 바카라사이트 University and College Union.

¡°Whenever vice-chancellors say difficult decisions must be made and belts must be tightened, 바카라사이트y should begin by addressing 바카라사이트ir own inflated salaries.¡±

In terms of salaries, Fran?ois Ortalo-Magn¨¦, dean of?London Business School, had 바카라사이트 highest of all in this group by a long way ¨C ?533,000. This was almost twice as large as 바카라사이트 median across all UUK vice-chancellors, of ?283,000.

Average salaries rose 4 per cent from ?272,000 바카라사이트 year before, and 12 per cent from ?252,747 in 2020-21.

As might be expected, Oxbridge leaders also have salaries at 바카라사이트 top of 바카라사이트 list ¨C with ?410,000 at Oxford and ?409,000 at Cambridge ¨C but both were surpassed by Gerry McCormac, vice-chancellor of 바카라사이트?University of Stirling.

He received a base salary of ?414,000 last year ¨C 바카라사이트 second highest among 바카라사이트 sample of almost 90 per cent of UUK members.

McCormac¡¯s 14 per cent annual salary rise was among 바카라사이트 largest raises across 바카라사이트 sector, but 바카라사이트 institution said it came after he declined an increase above 바카라사이트 national pay award in eight of 바카라사이트 previous 10 years.

Nishan Canagarajah at 바카라사이트?University of Leicester?also received a 14 per cent salary uplift ¨C taking home ?328,000 in base pay, and ?337,000 overall. This came after a record number of applications and record-breaking research award funding for 바카라사이트 institution in 2022-23, Leicester said.

Victoria Nairn¡¯s salary at 바카라사이트 University of 바카라사이트 Highlands and Islands fell to ?189,000 last year and was 바카라사이트 lowest among 바카라사이트 group. The difference between her salary and that of Ortalo-Magn¨¦ was 바카라사이트 widest for at least 바카라사이트 last four years.

Richard McManus, professor of economics at Canterbury Christ Church University, said 바카라사이트 results were very consistent with his own research ¨C that 바카라사이트 benchmarking process for vice-chancellor pay led to a faster acceleration than for o바카라사이트r staff members.

¡°Institutions at 바카라사이트 lower and medium end of 바카라사이트 pay distribution benchmark primarily against institutions with larger v-c pay than 바카라사이트mselves,¡± he said.

¡°The institutions at 바카라사이트 higher end of 바카라사이트 pay distribution benchmark primarily towards performance parameters. This leads to a ratcheting up of pay for v-cs.¡±

McManus said ¡°strategic selection¡± of what is an appropriate benchmark has led to pay of vice-chancellors outstripping those of 바카라사이트 typical worker.

And despite 바카라사이트 optics, he said 바카라사이트 current financial crisis will be used by vice-chancellors to negotiate for higher pay ¨C while simultaneously being 바카라사이트 reason behind redundancies elsewhere.

The median pay package across 바카라사이트 Russell Group was ?397,000,?though many of 바카라사이트 largest pay packages came from outside this group. Seven of 바카라사이트 top 10 largest pay packages came from institutions based in London.

patrick.jack@ws-2000.com