The University is committed to transparency with regard to the remuneration of senior staff, including that of the Vice-Chancellor, and publishes these annually in the University’s Financial Statements.
However, mindful of the public interest as well as guidance provided by both HEFCE and the Committee of University Chairs, the University has deemed it appropriate to report the new Vice Chancellor’s full remuneration on the occasion of her assuming office on 1 October 2017 - ahead of planned publication in the Financial Statements
The salary for Professor Shearer West is £270,000 per annum. The University also makes the standard employer’s contribution of 18%, which is available to all academic staff, to her USS pension scheme.
The salary has been determined according to a number of factors including, but not limited to:
- the depth of the Vice-Chancellor’s 20 years of leadership, management and academic experience within the higher education sector as well as government;
- the breadth of leadership responsibilities for one of the UK’s largest universities consisting of 45,000 students and 8,000 staff based in campuses across the UK, China and Malaysia; as well as a global community of 270,000 alumni in more than 200 countries;
- the financial responsibilities for an institution with an annual turnover of £650 million; and which contributes more than £1 billion to the national economy, £677 million to the regional economy, and supports 18,000 jobs; and
- the accountability for sustaining a TEF Gold-ranked educational experience for our students; and a world-leading research portfolio worth £600 million devoted to solving some of the most pressing global challenges, to the benefit of society in the UK and around the world.
Salaries for senior staff and the Vice-Chancellor are set by the Remuneration Committee - part of the University’s Council, its governing body - which comprises independent external members of Council, who possess commercial and public sector pay knowledge and expertise.
In common with practice in much of the public and private sector, while the Vice-Chancellor sits on the Remuneration Committee to determine the salaries of their senior staff, their own salary is considered and set by the independent external members acting alone. The Vice-Chancellor plays no part in this decision and is required to absent her/himself from meetings where this discussion takes place.
The University’s Remuneration Committee and Council will be considering what further steps may be taken to enhance transparency in this area.