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Vice-Chancellor remuneration

The role of President and Vice-Chancellor requires a wide range of leadership and academic credentials, business acumen and international experience, together with the gravitas to engage at senior government level, locally, nationally and overseas. It also requires the skills to lead and manage a complex, global institution with an annual turnover of approximately £600 million.

The remuneration of the President and Vice-Chancellor is determined by the Remuneration Committee. Members of the Remuneration Committee are all lay members of the University’s governing body, Council, and are independent of University management. Membership comprises the Chair of Council, the Vice-Chair of Council (who is the Chair of the Remuneration Committee), the Treasurer and two other lay members of Council.

When the Remuneration Committee reviews the remuneration of the President and Vice-Chancellor, it does so with due regard for the Committee of University Chairs’ Higher Education Senior Staff Remuneration Code.  It gives consideration to a range of factors including: institutional performance indicators, progress against appraisal objectives, market pay benchmarking data, recent higher education pay settlements and average pay increases for all other University employees.

Market pay benchmarking data, and other information that contributes to the Remuneration Committee’s decision-making process, is supplied independently by the Executive Director of Human Resources.

Current remuneration:

Details of the President and Vice-Chancellor’s current remuneration are set out below. Remuneration information is also published formally each year in the University’s financial statements.

Salary - £287,000 per annum

Salary Review -  Subject to annual review by the Remuneration Committee.

Cost of Living Increases - At the discretion of the Remuneration Committee as part of annual review.

Performance Related Pay -  No

Pension - Eligible for membership of the USS pension scheme, on the same basis and contribution rates as other employees at Level 4 and above.

Annual Leave - 30 days per year, plus public holidays and University Closure Days, as for other employees at Level 4 and above.

Private Health Insurance - Yes. Single membership, as for other senior managers.

Health Screening - Optional biennial health screening, as for other senior managers.

Accommodation - The University of Southampton owns a property in Southampton, part of which is an unfurnished private living space in which the President and Vice-Chancellor is contractually required to reside. These living arrangements are subject to tax according to prevailing HMRC regulations.

Car - No dedicated car or driver. The President and Vice-Chancellor has access to a University pool car, in common with other senior managers.

Business Expenses - The President and Vice-Chancellor’s expenses are published on a quarterly basis, in common with other University Executive Board members.

Relocation Allowance - Up to £8,000, to be claimed in accordance with normal University policy and the prevailing HMRC regulations.

External Engagements - As for other eligible employees, in line with the University’s Consultancy Policy. Permission must be received in advance from the Chair of Council. For paid engagements, the resultant income may be retained by the employee.

Additional notes:

Changes to the calculation of pension contributions account for fluctuations in amounts published.

University’s financial year runs from 1 August to 31 July

The members of the Remuneration Committee meet in November each year so that they can consider performance and reward following the publication of the University’s year-end financial result.

 

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