Posted: by Verity Hilton in Higher Education
Vice Chancellors will now have to justify their pay
Following new requirements published by the Office for Students, VCs will now have to justify their salaries.
Institutions will have to provide details of the salary packages paid to the OfS and if they fail to justify the salaries then they could face fines.
Chief Executive of the Office for Students Nicola Dandridge had this to say - published on the Office for Students website:
'Students and taxpayers need to be confident that our university leaders are paid appropriately and deliver value for money. High levels of pay that are out of kilter with pay levels elsewhere and which cannot be justified and unacceptable.
The Office for Students is today setting out our increased expectations around senior pay. HIgher education providers will have to give us full details of thetotal pay package of their vice chancellor.
As part of this, we will be looking at the ratio between the head of institution's pay and the pay of the other staff at the institution. This will provide additional visibility and transparency - and enable us all to ask tough questions as necessary.'
These details will then be published annually in order to create a greater sense of transparency.
For more information on the accounts requirements published yesterday, please click here.