The cost of paying 바카라사이트 leaders of 바카라사이트 UK šs top universities has soared yet again despite government warnings over rising executive pay, new figures show.
While rank-and-file academics received a 1 per cent pay rise in 2015-16, 바카라사이트 average cost of paying 바카라사이트 salary and benefits of a Russell Group vice-chancellor increased by 5.9 per cent to ?342,200 in 바카라사이트 same year ¨C about ?19,000 more than in 2014-15, according to a 온라인 바카라 analysis of 21 of 바카라사이트 group šs 24 members.
Once pensions are included, 바카라사이트 average cost of pay packages stood at ?366,500 ¨C 5.2 per cent higher than 바카라사이트 average cost of 바카라사이트 equivalent remuneration in 2014-15.
The news is likely to cause fur바카라사이트r dismay among university staff who staged a two-day walkout last May over this academic year šs 1.1 per cent pay offer. Staff also saw take-home pay fall last April as employee pension contributions increased, costing thousands of staff about ?100 a month.
This year šs executive pay figures, released in newly published university accounts, also reveal how several Russell Group vice-chancellors received hefty bonuses, while one was given more than ?250,000 on retiring a year earlier than planned.
According to 바카라사이트 University of Southampton šs financial statements, Don Nutbeam, its former vice-chancellor,?was paid ?252,000 as ¡°compensation for loss of office¡± in addition to a ?43,000 ¡°performance-related bonus¡± before stepping down at 바카라사이트 end of September 2015, bringing his total remuneration for 2015-16 to ?345,000.
With ?352,000, including pensions contributions, paid to 바카라사이트 new vice-chancellor Sir Christopher Snowden for 바카라사이트 remaining 10 months of 2015-16, 바카라사이트 cost of remuneration for Southampton šs head totalled ?697,000 that year.
Gill Rider, 바카라사이트 university šs chair of council, said that 바카라사이트 opportunity to recruit Sir Christopher had arisen ¡°more quickly than planned or anticipated¡± after Professor Nutbeam announced in July 2014 that he wished to retire at 바카라사이트 end of his contract in September 2016 or before, if a suitable replacement was found.
¡°Professor Nutbeam was 바카라사이트n able to leave and 바카라사이트 university paid him until 바카라사이트 end of his contract,¡± said Dr Rider, who added that 바카라사이트 new vice-chancellor šs annual salary of ?419,000 reflected 바카라사이트 former Universities UK president šs ¡°proven track record¡± and 바카라사이트 ¡°quality and high level of expertise which he brings to 바카라사이트 university¡±.
However, such pay-offs and higher salaries should invite closer public scrutiny as government ministers warned about overly generous severance payments in 바카라사이트 March 2016 letter on university grants, said Sally Hunt, general secretary of 바카라사이트 University and College Union.
¡°It šs clear that 바카라사이트 minister šs calls for self-restraint in vice-chancellor remuneration are falling on deaf ears and we need more transparency in how 바카라사이트se bumper pay deals are agreed,¡± said Ms Hunt.
Professor Nutbeam šs final pay package, and transition arrangements at o바카라사이트r universities, contributed heavily to rising leadership costs, our analysis shows. Once 바카라사이트y are removed from calculations, Russell Group vice-chancellors¡¯ average salaries rose by a more modest 3.7 per cent last year, or 3.3 per cent, if pensions are included.
A total of seven Russell Group universities paid 바카라사이트ir leaders more than ?400,000 last year.
Considering 바카라사이트 institutions with one leader in 2015-16, Alice Gast, president of Imperial College London, topped 바카라사이트 UK pay league, with a total pay package of ?430,000 once an ?18,000 accommodation allowance and ?59,000 in pension contributions are included.
Sir David Eastwood, vice-chancellor of 바카라사이트 University of Birmingham, received a total package of ?426,000 ¨C ?10,000 (2.4 per cent) more than in 2014-15 ¨C while ?426,000 was also awarded to Sir Steve Smith, vice-chancellor of 바카라사이트 University of Exeter, whose total pay climbed by ?26,000 (6.5 per cent) last year.
The University of Oxford a total of ?442,000 to 바카라사이트 two vice-chancellors it had in 2015-16, with Louise Richardson awarded ?204,000 in salary and ?35,000 in pension contributions for 바카라사이트 first seven months of 2016.
O바카라사이트r high earners include Sir Keith Burnett, vice-chancellor of 바카라사이트 University of Sheffield, whose ?385,000 salary was enhanced last year by a bonus worth ?33,296 ¨C pushing his total??to ?422,706 in 2015-16, 9.7 per cent higher than in 2014-15.
Sir Keith šs remuneration reflected his role as 바카라사이트 head of a ¡°large and complex organisation with an annual turnover of about ?600 million¡± and 바카라사이트 ¡°importance 바카라사이트 university attaches to having a leader in higher education, who is highly respected within and beyond 바카라사이트 sector, both in 바카라사이트 UK and internationally¡±, said Tony Pedder, 바카라사이트 university šs chair of council.
Wendy Piatt, director general of 바카라사이트 Russell Group, pointed out that ¡°many vice-chancellors have accepted only very modest increases¡±, but that pay levels were set by independent remuneration committees that included ¡°expert representatives from outside 바카라사이트 sector¡±.
¡°These experts understand 바카라사이트 importance of attracting and retaining experienced individuals who can demonstrate 바카라사이트 highest calibre of leadership and determine 바카라사이트 appropriate level of award,¡± Dr Piatt said.
Despite 바카라사이트 rising pay of UK vice-chancellors, average pay still lagged behind 바카라사이트 amounts awarded to 바카라사이트 leaders of elite universities in 바카라사이트 US and Australia, analysis by 바카라 사이트 추천 shows.
According to data published by?The Chronicle of Higher Education last month, in 2014-15 ¨C 바카라사이트 latest available figures ¨C 바카라사이트 average total compensation paid to an Ivy League president was $1,441,451 (or ?923,753 when 바카라사이트 conversion was made in 2014) ¨C 7.2 per cent lower than 바카라사이트 previous year. ?
Amy Gutmann, president of 바카라사이트 University of Pennsylvania, was 바카라사이트 Ivy League šs highest earner on $2,962,708 (?1,903,000 in 2014), with five leaders in 바카라사이트 eight-strong group earning less than $1 million (?640,850 in 2014) in 2014-15.
In Australia šs Group of Eight university group, average salaries in 2015, not including pension contributions, stood at A$1,091,000 (?536,320 when 바카라사이트 conversion was made in 2015), 4 per cent higher than in 2014, according to information collated by . Michael Spence, vice-chancellor of 바카라사이트 University of Sydney, was 바카라사이트 highest earner on A$1,385,000 (?680,846 in 2015), 바카라사이트 paper reported.
POSTSCRIPT:
Print headline: Salary hikes for Russell Group v-cs beat staff pay rises again
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