Here’s How Much Your Vice Chancellor Is Earning While You’re Struggling To Pay Your Rent
The cost of living crisis has hit hard, but the vice-chancellors of the UK’s universities remain unaffected.
With rent and energy bills soaring, students across the country have been struggling. From skipping lectures to save money, to the student housing crisis that has left students homeless or struggling to secure accommodation, times have been tough and money has been tight.
However, there’s a big chance that your university vice-chancellor is not feeling the impact of the cost of living crisis. That’s because, despite everything happening right now, vice-chancellors are some of the highest-paid earners in the UK, with eye-watering salaries that are much higher than average.
How much do vice-chancellors earn on average?
In 2021-2022 the average salary for vice-chancellors of Russel Group universities increased by 6% to £413,000, including pensions and benefits on top of their basic salaries. However, the reality is many VCs are earning much, much more, with the vice-chancellor of Imperial taking home a huge £714,000 per year. So, while many are facing mass redundancies and pay cuts at companies up and down the country, your vice-chancellor is probably raking in the cash.
With that in mind, there’s been consistent outrage in universities across the UK over the last year surrounding the lack of student accommodation available, unfair and drastic rent increases and overcrowding in lectures. On top of that, lecturers have been striking over unfair pay and pensions. So while vice-chancellors of UK universities are well aware of the problems that their staff and students are facing during the cost of living crisis — why is nothing being done to solve students’ hardships?
How much does the vice-chancellor of my uni earn per year?
The 2021-2022 salaries of vice-chancellors across the UK have been published — here’s where your VC measures up:
- Imperial College London- £714,000 per year
- University of Oxford- £542,000 per year
- London School of Economics- £539,000 per year
- University of Cambridge- £526,000 per year
- University College London- £495,449 per year
- University of Bristol- £403,000 per year
- University of Glasgow- £400,000 per year
- King’s College London- £399,000 per year
- Newcastle University- £387,800 per year
- University of Exeter- £382,000 per year
- University of Warwick- £372,000 per year
- University of Birmingham- £372,000 per year
- University of Liverpool- £364,900 per year
- University of Sheffield- £357,550 per year
- University of Southampton- £347,000 per year
- Queen Mary University of London- £344,941 per year
- Nottingham University- £333,058 per year
- Queen’s University Belfast- £333,000 per year
- University of Leeds- £330,000 per year
- University of Manchester- £276,000 per year
- Durham University- £145,000 per year
So, while students are struggling to pay their rent VCs up and down the country are earning eye-watering six-figure salaries.
Student’s aren’t happy
Recently, students in Manchester, for example, are currently participating in a rent strike. Over 350 students have participated in cancelling their direct debits and withholding rent payments to demand fairer rent and a cap on rent prices offered for student halls. The Instagram account @uomrentstrike is documenting the strikes and reports that so far £295,000 of rent money has been held back by students as part of their protest. The fact remains that students are going to such extremes, as well as living in hostels or sofa surfing due to facing the possibility of homelessness, while VCs are raking in so much cash and the needs and demands of both students and staff are left ignored.
If you are struggling with your mental health or finances as a direct result of the cost of living crisis don’t forget to check out where you can turn for help and support as well as the mental health helplines you need if you’re struggling with debt or money troubles.
