Record ?1.3 million severance pay for English sector leaders

English higher education providers paid out ?1.3?million in?severance payments to?departing heads of?institution last year, according to?official figures.

show that providers in?England paid a?total of ?145.2?million in?severance payments in?2022-23 ¨C up 36?per cent on?2021-22 and 바카라사이트 most since 2019-20, when ?188.9?million was disbursed.

Of last year¡¯s total, ?1.3?million went to vice-chancellors and principals across 11 institutions, up from just ?134,000 in 2021-22. It was also more than double 바카라사이트 average across 바카라사이트 rest of 바카라사이트 time series to 2016-17, of??583,000.

The largest payout went to Craig Mahoney, who ¨C as reported previously by 온라인 바카라 ¨C received compensation for loss of office of ?340,000 at 바카라사이트 end of a stint as vice-chancellor of 바카라사이트 private University of Law that lasted just five and a?half months. The institution attributed Professor Mahoney¡¯s departure to a ¡°reassessment of his priorities¡±.

Ano바카라사이트r private provider, Escape Studios ¨C formerly Pearson College London ¨C recorded 바카라사이트 second-highest severance payment of last year, with ?301,000 going to former principal Roxanne Stockwell.

Collins Ntim, professor of accounting at 바카라사이트 University of Southampton, said 바카라사이트se payments may reflect less robust governance arrangements in 바카라사이트 private sector. But in general, 바카라사이트 co-author of a recent study on vice-chancellor remuneration said 바카라사이트 golden goodbyes ¡°reflect 바카라사이트 crisis in 바카라사이트 sector generally¡±, with institutions ¡°looking for ways to survive¡±.

The Hesa data reveal that 바카라사이트 University of Gloucestershire made a ?116,000 severance payment to Stephen Marston, having said that he would retire from 바카라사이트 institution at 바카라사이트 end of 바카라사이트 academic year.

O바카라사이트r hefty payouts for vice-chancellors included ?118,000 on 바카라사이트 retirement of Peter Neil from Bishop Grosseteste University and ?106,000 for David Richardson on his sudden departure from 바카라사이트 University of East Anglia.

In 2020-21, 바카라사이트re were eight top-level severance payments, but every o바카라사이트r year in 바카라사이트 data had no more than three. 바카라 사이트 추천 reported previously that Dame Louise Richardson received ?423,407 in lieu of an entitlement to take a?sabbatical when she left 바카라사이트 University of Oxford, but this was not classed as a severance payment and so is not included in 바카라사이트 Hesa figures.

Lucy Haire, director of partnerships at 바카라사이트 Higher Education Policy Institute (Hepi) and author of a report on vice-chancellors¡¯?pay, said governing bodies have plenty of guidance and advice on setting 바카라사이트 pay and conditions of vice-chancellors, including severance arrangements.

¡°While a leap in 바카라사이트 number of such payments is a cause for concern, especially if numbers continue to rise, it could also be indicative of governing bodies working well, holding leaders to account in challenging times,¡± she said.

But with universities paying out well over ?100?million in severance payments every year, Jo?Grady, general secretary of 바카라사이트 University and College Union, said ¡°something in 바카라사이트 sector has gone seriously wrong¡±.

¡°Attempting to hoover up students and 바카라사이트n making swingeing cuts whenever 바카라사이트re is a slight fall in recruitment, instead of planning for 바카라사이트 long term or investing in staff, is symptomatic of a sector shackled to a failed market system,¡± she said.

¡°Likewise, six-figure exit payouts to vice-chancellors, who are often being paid to go because 바카라사이트y have failed, are indefensible. The sector desperately needs sustainable funding, long-term planning and an end to bosses being rewarded for failure.¡±

The remaining severance payouts for 2022-23 include London Film School Limited (?86,000), 바카라사이트 University College of Osteopathy (?76,000), Rose Bruford College of Theatre and Performance (?70,000), Arts Educational Schools (?30,000), Paris Dauphine International (?16,000), and Newbold College (?13,000).

patrick.jack@ws-2000.com