VCs get fat-cat pay, but are they worth it?
It’s never a good time for bosses to reveal massive pay rises for themselves. But the timing of this particular story takes the biscuit.
After grudgingly giving staff a pay rise of, on average around 5.7%, it turns out Vice-Chancellors last year received a pay increase of 9%. Oh dear.
Let’s chuck in the fact that many VCs recently recommended that tuition fees should double and general anger at fat-cat pay in the credit crunch and you soon have all the ingredients necessary to create a proverbial, PR shit storm.
The top ten Vice-Chancellors in the pay stakes are:
1. University of Nottingham: Sir Colin Campbell £585,000
2. Imperial College London: Richard Sykes/Sir Roy Anderson £429,000 between them
3. London Business School: Laura Tyson £364,000
4. University of the Arts London: Michael Bichard* £307,603
5. University College London: Malcolm Grant £295,621
6. University of Birmingham: Michael Sterling £292,000
=7. Thames Valley University: Peter John £291,000
=7. University of Manchester: Alan Gilbert £291,000
=9. University of Liverpool: Drummond Bone £285,000
=9. University of Surrey: Christopher Snowden £285,000
Nice work if you can get it.
I think this story does deserve a caveat though. These are big wages, but it’s hardly the easiest job in the world, and only a few are qualified to do it. I somehow doubt that this will stop the complaints, but maybe they deserve the money?
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