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PAY: that’s 1% for you and 25% for me. What does VC (Vince Cable) think of it ?

This year’s ‘pay rise’ might have slipped by unnoticed for most of us in December.  At 1% it is the fourth real terms pay cut in a row.  But it is a different story if you are the Vice Chancellor of the University of Bath, who is highlighted in today’s THE
This year the VC has had her ‘salary and benefits in kind’ topped up by a whopping 25% – possibly the biggest in the land ( we will have to wait for the annual THE survey to find out). Most of the huge increase comes about because the employer’s contribution to the VC’s pension (at £65,000 in 2011 the largest in England) has been transferred to salary. Could it be that the VC has one eye on the exit and the other on her final salary ? Regular readers will not need reminding that the final salary scheme for USS members was destroyed last year, and that the Bath VC, as a member of the USS board, received £19000 (increased to £29000 in 2012) for her part in this decision.
At the UCU Bath Annual Genneral Meeting in December, members were quite surprised by the VC’s pay increase and, together with UNISON and Unite, have written to Vince Cable, Secretary of State for Business, Innovation and Skills to ask what he thinks about it. Just after the Coalition Government was formed in 2010 Vince Cable said that “the scale of (Vice Chancellors’) pay rises bore “no relation to the underlying economics of the country” and called on vice-chancellors to set an example.”

One Comment

  1. Sb360 says:

    Seems like many VCs are receiving similar pay increases:

    Remuneration of Russell Group v-cs up as pension allowances approach ceiling. Jack Grove reports in THES:

    http://www.timeshighereducation.co.uk/story.asp?storycode=422329

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