Here’s Exactly How Much Your Vice Chancellor Earned Over The Last Year

11 Nov 2024, by Lydia Kah-Pavlou, min. read

University tuition fees may be rising, but so are the vice-chancellors’ wages.

With tuition fees rising, plus 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 or is too worried about paying off your uni’s debts. 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 Russell Group universities increased by 6% to £413,000, including pensions and benefits on top of their basic salaries. We now have the latest data for the 2022-23 year too which has shown that across the UK’s 24 Russell Group universities, the average salary still exceeds £400,000, with more than two-thirds of them awarding vice-chancellors pay rises over the last year.

However, the reality is many VCs are earning much, much more, with the vice-chancellor of Oxford University taking home a whopping £1,048,000 per year. So, while students are facing a hike in tuition fees to cover their universities’ debts, the vice-chancellors are raking in the cash.

Unsurprisingly, there’s been consistent outrage in universities across the UK over the past couple of years 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, why are they choosing to take more money from students rather than sacrifice their mammoth salaries?

Why do university vice-chancellors earn so much?

According to the Higher Education Policy Institute (HEPI), vice chancellor’s salaries are pretty justifiable. Universities are massive institutions that put tons of money into local economies and can have huge national and international influence, so attracting “high-quality leaders” by providing good salaries is essential.

The paper also argued that vice-chancellors in the UK actually earn a lot less than the same role in the US where they could rake in around £1,966,274 a year (based on figures for 2022), and in Australia, where earnings were up to £792,700 in 2021.

You might be mistaken into thinking that vice-chancellors are able to set their own salaries too but this is actually done by a remuneration committee that follows guidance from the Higher Education Senior Staff Remuneration Code and the Code of Governance published by the Committee of University Chairs (CUC).

Managing thousands of staff and students, international reputation, spending and so much more should make you a decent salary. However, this is still more than both the Prime Minister and the head of the NHS which we would argue are even more challenging jobs, so when everyone else is struggling, surely it’s time to take a pay cut?

How much does the vice-chancellor of my uni earn per year?

The 2021-2022 and 2022-23 salaries of vice-chancellors across the UK have been published — here’s how your VC measures up:

University of Oxford – 2022-23, £1,048,000 vs. 2021-22, £712,000
London School of Economics – 2022-23, £533,000 vs. 2021-22, £539,000
University College London – 2022-23, £509,849 vs. 2021-22 £495,449
University of Cambridge – 2022-23, £499,000 vs. 2021-22, £526,000
Imperial College London- 2022-23, £476,000 vs. 2021-22, £714,000
University of Edinburgh – 2022-23, £418,000 vs. 2021-22, £406,000
King’s College London – 2022-23, £414,000 vs. 2021-22, £399,000
University of Birmingham – 2022-23, £407,000 vs. 2021-22, £372,000
University of Exeter – 2022-23, £405,000 vs. 2021-22, £382,000
Newcastle University – 2022-23, £404,300 vs. 2021-22, £387,800
University of Glasgow – 2022-23, £400,000 vs. 2021-22, £400,000
University of Bristol – 2022-23, £396,000 vs. 2021-22, £403,000
University of Cardiff – 2022-23, £396,000 vs. 2021-22, £326,000
University of Southampton – 2022-23, £380,000 vs. 2021-22, £347,000
University of Warwick – 2022-23, £374,000 vs. 2021-22, £372,000
University of Sheffield – 2022-23, £362,412 vs. 2021-22, £357,550
Nottingham University – 2022-23, £361,181 vs. 2021-22, £333,058
Queen Mary University of London – 2022-23. £358,746 vs. 2021-22, £344,941
University of Liverpool – 2022-23, £358,000 vs. 2021-22, £364,900
Durham University – 2022-23, £353,000 vs. 2021-22, £343,000
Queen’s University Belfast – 2022-23, £350,000 vs. 2021-22, £333,000
University of Leeds – 2022-23, £330,000 vs. 2021-22, £330,000
University of York – 2022-23, £297,953 vs. 2021-22, £288,562
University of Manchester – 2022-23, £277,000 vs. 2021-22, £276,000

You’ll see that while many have dropped over the last year after media scrutiny into how much VCs were being paid, many are still over an eye-watering £400,000.

We found a remuneration report for Manchester University which stated that the vice-chancellor’s total remuneration (including benefits and pension contribution) was £268,000 for the year ending 31st July 2024.

The University of Nottingham also publishes its vice-chancellor’s remuneration, saying it is “committed to transparency with regard to the remuneration of senior staff”, however, their 2024 numbers are yet to be released.

Cambridge University also publishes an annual remuneration report, however, they have not yet released the latest version for the last academic year.

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.