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 2019, the President and Vice-Chancellor’s total pay was £260,399 for a fourth consecutive year (she receives no bonus).
The Chair of the Board of Governors undertakes the President and Vice-Chancellor’s annual performance and development review. The overall conclusion was that the President and Vice-Chancellor continues to do an outstanding job, met the vast majority of her objectives and targets, and therefore, as a minimum, should receive a cost of living increase. However, the President and Vice-Chancellor continues to assert that she does not wish to receive any pay increase as per the previous 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 Committee recognises that the market rate would be significantly higher than her current package. However, the Committee supported the President and Vice-Chancellor’s personal view and wished to record that in any other circumstances she would be awarded a pay increase.
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 seven-year, fixed-term contract which is renewable and is subject to 12-month notice period.
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 2019 as disclosed in Note 7 (page 56) of the University’s Financial Statements.
|Year ended 31 July 2019 (£'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