Vice-chancellor pay increase 63 per cent higher than national average
By Fran Singh
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Figures released today in the Times Higher Education magazine show that the resignation package of former City vice-chancellor Malcolm Gillies was the most expensive payout made by any academic institution in the UK in the last financial year. The figures also show that university vice-chancellors in the UK recieved on average a 10 per cent pay rise, whereas City increased the VC salary by a significantly higher 73 per cent.
The analysis by Grant Thornton accounts shows that the highest amount paid out by an institution was £651,000 from City University. As revealed by the Inquirer in January, £393,000 of this was part of a “was compensation for loss of office” when he resigned his post last summer.
The University of East London (UEL) had the second highest outgoings paying out a total of £537,000
Despite funding cuts of £900m which threaten up to 14,000 academic posts vice-chancellors pay rose by 10.6% last year. According to the study, on average, vice-chancellors were paid £207,318 in 2008/09. It is yet to be revealed the pay agreement for incoming vice-chancellor Paul Curran, but former VC Gillies was paid a salary of £393,000, almost double the national average. This had risen from £227,000 in the previous academic year showing a pay increase of 73 per cent.
Andrew Likierman of the London Business School had the highest salary alone at £427,000.
The following PDF shows the figures in full:
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As revealed by the Inquirer in January, £393,000 of this was part of a “was compensation for loss of office” when he resigned his post last summer…..
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