Vice-Chancellor and Executive Group salaries
The salaries of the Vice-Chancellor (VC) and members of the Executive Group are set by the Remuneration Committee of the Council of the University and notified to the Council. Salaries are set according to the terms of reference of the Remuneration Committee as follows:
- to determine all aspects of the remuneration (base pay, performance-related payments and pensions) of the Vice-Chancellor, Deputy Vice-Chancellors, the Pro-Vice-Chancellors and the Director of Finance, based on an appraisal of the individuals’ performance against their objectives set each year.
- to consider the appropriateness of current salary levels, taking into account the size and scope of the role and by using salary survey information to benchmark against comparative roles in other institutions.
- to determine any governance or early retirement arrangements relating to senior staff, as defined from time to time by the funding council and in the context of the University’s policy statement on severance (added March 2004).
- the Committee will obtain external, specialist advice on the appropriateness of salary levels of staff under its purview when necessary.
- the Remuneration Committee has delegated responsibility for decision-making on these matters from Council. A report of the Committee's decisions is made to Council each year.
The Committee has an agreed policy on Senior Reward.
The VC’s current total annual rate of remuneration is £277,100. This includes an allowance in lieu of pension contribution.
This and other aspects of the University's finance is published annually in the Financial Statements.