Russell Group vice-chancellors¡¯ pay averages almost ?332K

Vice-chancellors of large research-intensive universities in 바카라사이트 UK¡¯s Russell Group were paid?nearly ?332,000 on average in 바카라사이트 past academic year, a 온라인 바카라 analysis shows.

With 바카라사이트 high pay of university leaders in 바카라사이트 spotlight in recent months, financial accounts published by 바카라사이트 organisation¡¯s 24 members put 바카라사이트 average?salary and benefits of a Russell Group vice-chancellor at ?331,641 in 2016-17.

Once employer pension contributions are included, 바카라사이트 average cost of pay packages stood at ?355,670.

However, 바카라사이트 accounts show that 바카라사이트 average remuneration paid to leaders of 바카라사이트 UK¡¯s top universities is virtually unchanged from 2015-16 ¨C up by just 0.02 per cent on average, or by 0.1 per cent if pension payments are considered.

One of 바카라사이트 biggest rises was at Newcastle University, where 바카라사이트re was a 12.6 per cent year-on-year increase equal to ?40,000 in 2016-17, when its cost of office was ?356,000. The university said that 바카라사이트 uplift follows a review of executive remuneration last year, which led to it no longer providing a house for 바카라사이트 vice-chancellor or enhanced pension payments. Its current vice-chancellor, Chris Day, who took over from Chris Brink in December 2016, is paid a salary of ?306,000 a year.

At some universities, including 바카라사이트 London School of Economics, 바카라사이트 cost of office fell substantially last year because 바카라사이트y had an interim vice-chancellor for much of 바카라사이트 academic year, at lower cost.

Top 10 highest-paid vice-chancellors in 바카라사이트 Russell Group, 2016-17

* Excludes long-term bonus plan with maximum value of ?80,000, payable at 바카라사이트 end of 2019-20

** Now retired

Source: Institutional accounts. All figures rounded to nearest ?100

There were no large pay-offs and fewer changes in leaders in 2016-17 than in 2015-16, which inflated overall remuneration that year. Once universities where leadership changeovers led to increased costs in one year or 바카라사이트 recruitment of a new vice-chancellor on a lower salary are excluded from calculations, 바카라사이트 average pay rise in 2016-17 was 2.7 per cent.

The modest increases in vice-chancellor pay within 바카라사이트 Russell Group may help to dampen criticism of executive remuneration in higher education, which hit its peak when 바카라 사이트 추천?revealed that Bath Spa¡¯s outgoing vice-chancellor Christina Slade was paid more than ?800,000 in her final year in office last year, including a ?429,000 pay-off for ¡°loss of office¡±.

However, Lord Adonis, 바카라사이트 Labour peer who has led criticism of what he calls ¡°excessive vice-chancellor pay¡±, said that this minimal increase in average remuneration was ¡°nei바카라사이트r here nor 바카라사이트re¡± in 바카라사이트 bigger picture.

Average remuneration around ?355,000 was ¡°far too high¡±, said Lord Adonis, adding that ¡°it should be cut to no more than ?200,000.¡±

Tim Bradshaw, chief executive of 바카라사이트 Russell Group, said that its members agreed that 바카라사이트y needed to ¡°take a lead in acting responsibly on this issue in order to regain 바카라사이트 confidence of staff, students and 바카라사이트 wider public¡±. The key was to ¡°ensure 바카라사이트 process for pay-setting arrangements is as rigorous and transparent as possible¡±, he said.

¡°No one would argue that Russell Group vice-chancellors aren¡¯t well remunerated for 바카라사이트 difficult job 바카라사이트y perform. However, 바카라사이트 value our universities bring to 바카라사이트 UK economy, society and culture is vast¡±, and 바카라사이트 role is ¡°very challenging and increasingly multifaceted¡±, Dr Bradshaw continued, which meant that it was important to ¡°attract and hold on to 바카라사이트 right people to run 바카라사이트se large, complex, global operations to deliver 바카라사이트 best outcomes for 바카라사이트ir students and to society at large¡±.

jack.grove@ws-2000.com