University bosses to have salaries published and face fines for ‘excessive’ pay packets

University bosses will have their salaries published annually and institutions could face fines if they are unable to justify pay packets that are “out of kilter” with rest of the sector, a watchdog has warned. iNews reports

Full details of vice-chancellors’ pay packets – including bonuses and perks – will be disclosed in an annual report, as part of a major crackdown on excessive salaries, the Office for Students (OfS) said.

OfS chief executive Nicola Dandridge said: “Students and taxpayers need to be confident that our university leaders are paid appropriately and deliver value for money.”

“As part of this, we will be looking at the ratio between the head of institution’s pay and the pay of the other staff at the institution. This will provide additional visibility and transparency – and enable us all to ask tough questions as necessary,” Ms Dandridge added.

If a university fails to provide sufficient justification, the watchdog can suspend it from the OfS register, which can mean it loses access to public funding and make it harder for students to access student tuition fee and maintenance loans.

Gordon Marsden MP, the shadow universities minister, said “There will be no clear limits, and top managers will still be allowed to sit on their own remuneration committees while ordinary staff and students can be kept out of the room.”

UCU general secretary Sally Hunt said: “This new guidance seems to allow universities to simply craft excuses for vice-chancellors to hide behind. If university leaders are to be held genuinely accountable we need proper student and staff representation on the committees which set their pay.”

Who are the highest paid vice-chancellors? Read more University bosses to have salaries published and face fines for ‘excessive’ pay packets 

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Comments

  1. wasateacher

    And yet there is so little restraint on the extortionate salaries of some of the ceos of academies trusts.

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