Tuition fees are rising. Your rent has probably gone up. But your vice-chancellor? Doing absolutely fine, thanks.
Students across the country have faced a brutal few years financially — housing shortages, soaring energy bills, and tuition fees climbing again. Meanwhile, the people running UK universities are among the highest-paid leaders in the country, and the latest data shows salaries have continued to rise even as thousands of university staff face redundancy.
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How Much Do Vice-Chancellors Earn on Average?
The median pay package for vice-chancellors at Russell Group universities hit £400,000 in 2023-24 — up 1% on the previous year, and 5% over two years. This figure includes salary, benefits, and pension contributions across 19 of the 24 Russell Group institutions where accounts were available.
For context: the average UK salary is around £35,000. The average VC earns more than 11 times that.
Who Is the Highest-Paid Vice-Chancellor in the UK?
The highest total remuneration in 2023-24 went to Deborah Prentice at the University of Cambridge, with a pay package of £577,000 — including a base salary of £409,000 in her first full year as vice-chancellor.
Close behind was Irene Tracey at the University of Oxford with £573,000.
According to a 2026 ranking by The Tab, the highest individual Russell Group VC pay package now reaches £666,000.
The Salary Table: 2022-23 vs 2021-22
Note: the full 2023-24 data is still being published across institutions. The table below reflects the most recently published figures where available, with key 2023-24 updates noted above.
University | 2022-23 | 2021-22 |
|---|---|---|
University of Oxford | £1,048,000* | £712,000 |
London School of Economics | £533,000 | £539,000 |
University College London | £509,849 | £495,449 |
University of Cambridge | £499,000 | £526,000 |
Imperial College London | £476,000 | £714,000 |
University of Edinburgh | £418,000 | £406,000 |
King's College London | £414,000 | £399,000 |
University of Birmingham | £407,000 | £372,000 |
University of Exeter | £405,000 | £382,000 |
Newcastle University | £404,300 | £387,800 |
University of Glasgow | £400,000 | £400,000 |
University of Bristol | £396,000 | £403,000 |
University of Cardiff | £396,000 | £326,000 |
University of Southampton | £380,000 | £347,000 |
University of Warwick | £374,000 | £372,000 |
University of Sheffield | £362,412 | £357,550 |
Nottingham University | £361,181 | £333,058 |
Queen Mary University of London | £358,746 | £344,941 |
University of Liverpool | £358,000 | £364,900 |
Durham University | £353,000 | £343,000 |
Queen's University Belfast | £350,000 | £333,000 |
University of Leeds | £330,000 | £330,000 |
University of York | £297,953 | £288,562 |
University of Manchester | £277,000 | £276,000 |
*Oxford's 2022-23 figure was unusually high and is understood to include exceptional items. The 2023-24 figure for Oxford (Irene Tracey) was £573,000.
Manchester's total remuneration (including benefits and pension) was confirmed at £268,000 for the year ending July 2024.
Why Are Vice-Chancellors Paid This Much?
The Higher Education Policy Institute (HEPI) argues that VC salaries are broadly justified: universities are large, complex institutions with significant national and international influence, and attracting strong leadership requires competitive pay.
They also point out that UK VCs earn considerably less than equivalents in the US (where the figure can reach around £1.96m) and Australia (up to £793k).
Importantly, VCs can't set their own salaries. Pay is determined by a remuneration committee that follows guidance from the Higher Education Senior Staff Remuneration Code and the CUC Code of Governance.
The Uncomfortable Context
Even with that justification, the optics are difficult. Russell Group VC salaries rose by 5% over two years — during the same period in which universities confirmed around 7,000 job losses. Lecturers have been striking over stagnant pay and pension changes. Students have faced rent increases and accommodation shortages.
VC salaries also exceed those of the Prime Minister and the head of the NHS — roles that could reasonably be argued carry greater public responsibility.
The debate isn't going anywhere.
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