The Higher Education Policy Institute (www.hepi.ac.uk) has published a new report, Because you’re worth it: are vice-chancellors worth the pay they get? (HEPI Debate Paper 33), written by Lucy Haire, Director of Partnerships at HEPI.
The paper argues the following:
- UK Universities are high-revenue organisations, receiving up to £2.2 billion annually, and have enormous local, national and international influence, so high-quality leadership is essential.
- Vice-chancellor pay is not a Wild West, but determined carefully by remuneration committees, who draw on guidance such as the Higher Education Senior Staff Remuneration Code and the Code of Governance published by the Committee of University Chairs (CUC).
- In 2022, the top three highest-earning UK vice-chancellors received £714,000, £542,000 and £539,000. This is more than the UK Prime Minister and managers in the NHS, but less than institutional leaders of private sector companies with similar revenue.
- UK vice-chancellors earn less than their equivalents both in the US, where vice-chancellors earned up to $2,509,687 (£1,966,274) a year in 2022, and in Australia, where they earned up to AUD $1,515,000 (£792,700) in 2021.
