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Remuneration of the President and Vice-Chancellor of The University of Manchester

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.

Salary

As set out in the University Financial Statements for the year ended 31 July 2018, the President and Vice-Chancellor’s total pay was £260,399 for a third consecutive year (she receives no bonus). From 1 April 2016 the President and Vice-Chancellor was in receipt of a supplement in lieu of the employer pension contribution, the last payment being £3,032 made in August 2017 and included in salary the year ended 31 July 2018 in addition to the base pay. From 1 September 2017 the President and Vice-Chancellor elected not to receive a pension supplement.

Increases to the President and Vice-Chancellor’s salary are approved by the Remuneration Committee. This salary, paid monthly, reflects the size (based on Hay evaluation) of the role and its responsibilities, individual performance assessed annually and the skills and experience of the individual.

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 will include 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.

Contract

The President and Vice-Chancellor is employed on a seven-year, fixed-term contract which is renewable and is subject to 12-month notice period.

Taxable benefits

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 2018 as disclosed in Note 7 (page 53) of the University’s Financial Statements.

  Year ended 31 July 2018 (£)
Salary 260,399
Supplement in lieu of employer pension contributions (ceased 31 August 2017) 3,032
Total salary 263,431
Benefits in kind 3,498
Pension 5,468
Total remuneration 272,397

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

Expenses including University credit card expenditure of the President and Vice-Chancellor are published twice a year.