Remuneration of the President and Vice-Chancellor of The University of Manchester
The remuneration of the President and Vice-Chancellor of The University of Manchester is set by the Remuneration Committee, which reports into the Board of Governors.
As set out in the University Financial Statements for the year ended 31 July 2020, the President and Vice-Chancellor’s salary per annum was £260,399 for a fifth consecutive year (she receives no bonus). The salary stated for the year ended 31 July 2020 does not include the temporary 20% pay cut voluntarily taken for five months starting in May 2020 as a result of the COVID-19 pandemic.
The Chair of the Board undertakes a thorough annual performance and development review with the President and Vice-Chancellor. The overall conclusion was that the President and Vice-Chancellor continues to do an outstanding job.
Due to the COVID-19 pandemic and the impact of this on the University’s financial position, the Committee agreed that it would not give a cost of living pay award to the President and Vice-Chancellor and her direct reports. The President and Vice-Chancellor also continued to assert that she does not wish to receive any pay increase, as per the previous four years. The Committee noted that the President and Vice-Chancellor is not highly paid in comparison to her counterparts (who in some cases also receive bonus payments) and acknowledged that she is leading a complex and large institution. The President and Vice-Chancellor’s salary is in the lower quartile of pay for Vice-Chancellors within the Russell Group.
When assessing the level of the President and Vice-Chancellor’s salary, the Committee is given an evaluation of their performance that includes an assessment from each Board of Governors member and a formal review of individual performance by the Chair of the Board based on these inputs. The Chair also circulates a summary of the review to the Board.
From 2018-19, the review includes an assessment of the overall performance of the University (based on its Annual Performance Review and Stocktake Reports).
The President and Vice-Chancellor is not a member of Remuneration Committee and is not present at Committee discussions relating to their salary.
The President and Vice-Chancellor is employed on a fixed-term contract (ending 30 June 2024) which is renewable and is subject to six month notice period. They also hold a contract as Professor of Physiology which is retained when they leave office.
The President and Vice-Chancellor receives private medical insurance, for his or her self only, and no other taxable benefits.
The table below sets out the Vice-Chancellor’s remuneration for the year ended 31 July 2020 as disclosed in Note 7 (page 66) of the University’s Financial Statements.
|Year ended 31 July 2020 (£'000)|
|Pension contributions to USS in respect of 2.1% enhanced opt-out||5|
Remuneration Committee report
You can read the most recent annual report from the Remuneration Committee in our Financial Statements, available to download from our list of corporate documents.
Expenses including University credit card