vice chancellor salary australia 2020

/ExtGState 51 0 R While any remuneration for board memberships is not disclosed, non-executive directors of large publicly listed companies such as CSL can receive in the vicinity of $1,000,000. Economics identifies four ideal types of remuneration: salaries/wages, stipends, profits and rent. /Type /Page endobj 2. Experts expect 2022 to be a crunch year for Australian international education because of a dearth of fresh enrolments in 2020 and 2021. In agency terms, these findings beg the question as to whether information and power asymmetries within universities are influencing the setting of remuneration as, in agency terms, VCs are achieving unjustifiably high remuneration. >> The vice-chancellors of Monash and RMIT universities also topped the $1 million mark last year, annual reports show. We find a high degree of theoretically predictable and empirically verifiable correlation between rising VC remuneration levels and shifts towards more market-based governance regimes in Australian and UK universities. They don't have the training. Universities were expressly excluded from JobKeeper, with the rules changed three times to keep them out. Econometricians also looked at what might be driving these pay hikes. But for me, wanting to be connected to my staff, and not actually caring about money, that is a good way of expressing it to my staff. The government pushes freedom of speech and foreign interference agendas, but shows little interest in the role of universities in producing the next generation of doctors, nurses, lawyers, diplomats, architects, engineers, teachers and social workers. >> NTEU president Jeannie Rea said that vice-chancellors rising pay packets contrasted with a constant decline in ongoing decent jobs at universities. There is ample evidence that UK and Australian VCs remuneration has been changing rapidly in scale and nature in recent years. (link is external) conference on June 18. To view the position description, please click Senior Advisor, Government Relations Final PD_2023.pdf. 12 0 obj /Type /Page The international student sector, which props up Australian universities and their research efforts, started collapsing after borders were hastily closed last February. Financial exigencies considerably strengthened VCs and university governing bodies powers (Marginson & Considine, Citation2000). It has been pummeled by hail, flood, fire and a massive cyberattack. "A CEO offers strategic direction. Roles of Review Committee Members and Secretariat 8.1 Chair. Bill would bind vice-chancellors' salaries to state premier's pay . Australia's 38 public university vice-chancellors were paid an average $890,000 in 2016, and 12 earned more than $1 million. I helped set up UFIT [University Foreign Interference Taskforce] so we can work constructively with government. Governance regimes play a central role in the distribution of organisational power and determine the approaches used for fixing remuneration. /Font 46 0 R The first relates to principals. Whilst agency theory posits a strong correlation between performance and pay, empirical research has demonstrated only a weak relationship between corporate executive pay and organisational performance (e.g., Gritsko et al., Citation2013; Marshall, Citation2017). That did not happen. Gordon, in the meantime, applied for six jobs and was offered all of them. "Chief executives are paid for their business acumen. Gschwandtner and McManus (Citation2018) and others (e.g., Schmidt & Dworschak, Citation2006) found that high levels of VC remuneration are linked to benchmarking exercises, where those universities with below average pay increase their VC pay quicker than those with above average pay (Gschwandtner & McManus, Citation2018, p. 1). >> If winning the Nobel has not changed him as a person, has being a vice-chancellor? Most Likely Range. Licensed to the public under Creative Commons Creative Commons Attribution 4.0 International License license. Although we draw on empirical examples from both Australia and the UK, this is not a comparative article. Institutional accounts released so far show that 11 vice-chancellors earned more than A$1 million last year, down from 15 in 2019. Vice-chancellors paid 500,000 or more at six universities in England Murray also recommended that universities be funded by specifically targeted recurrent triennial grants from the federal government, distributed via the states. 20 0 obj /Parent 2 0 R He also took a 20 per cent pay cut for six months last year. These jobs are hard because in the non-Group of Eights you have command and control, he says. The Courier-Mail asked UQ why Professor Terry's pay had reduced by $18,000 in . Yet, despite the eye-watering sums, executive pay remains less of a hot . If you are experiencing technical difficulties with your application, please email the Recruitment team or phone 03 5327 9756. Help using this website - Accessibility statement, strategic options he's worth the $5 million they pay him. 2022: $1.195m. There were 22 changes to vice-chancellor appointments in these three years. The escalation of VC remuneration in this context suggests rent-taking. /MediaBox [0 0 595 842] The Vice-Chancellor's salary for 2021 was $670,607 with overall reported remuneration currently in the range of $850,000 to $859,999 (2020: $940,000 to $949,999). Universities 2018 annual reports and financial statements reveal that VCs salaries ranged from AUD $1,582,500 [867,998] at the University of Sydney to AUD $622,250 [341,302] at Charles Darwin University. You'll get full access to our website, print and digital editions. In both Australia and the UK, VCs remuneration is determined by a remuneration committee of the council for each university. Definitions, Terms, Acronyms. Professor Smith added most Australian universities lacked transparency, stating salaries in a range rather than exact amounts, which included a sleight of hand given they sometimes included bonuses and rent arrangements. University of Melbourne vice-chancellor Duncan Maskell was the states highest paid vice-chancellor last year thanks to an official remuneration package of just over $1.5 million. Attila Csaszar. If they lose confidence in you, its game over. >> Former Swinburne vice-chancellor Linda Kristjanson received $890,000 including an exit package upon leaving in August and La Trobe vice-chancellor John Dewar took a pay cut of more than $100,000, his salary dropping from $970,000 to $850,000. Australias National Tertiary Education Union, however, has raised concern that vice-chancellors earned eight times the salary of senior lecturers in 2017. Following Jarratt, the government established a series of national funding councils that allowed it to steer universities at a distance using financial levers (Shattock, Citation2012). >> Our universities were nowhere near as loud as Australian ones in claiming poverty during COVID-19 and did not resort to mass lay-offs either, Mr Usher said. endobj His predecessor, Michael Spence, earned more than $1.6 million in 2019, which included rent-free accommodation in a Victorian mansion in Sydneys Woollahra that has since been sold for $9 million. (PDF) Paying the piper: the governance of vice-chancellors How Australian vice-chancellors' pay came to average $1 million and why /Type /Page University vice-chancellor salaries are 'ridiculous' More prestigious universities generally paid their VCs more, but this was not universal. Vanderbilt University Assistant Vice Chancellor Salaries Is vice chancellor pay justified by university performance? << Copyright 20102023, The Conversation Media Group Ltd. An exception to the rule, Australian National Universitys Brian Schmidt is a Nobel laureate and vice-chancellor of one of the countrys most prestigious universities, but was the second-lowest-paid on about $650,000 in 2019. It has been estimated that over 17,000 people lost their jobs in the university sector in 2020. Follow the topics, people and companies that matter to you. The Australian historical example outlined in this article demonstrates this. Those highlighted affects year-to-year remuneration comparisons, assumption that the years highest remunerated officer was the VC. Annual condemnations of remuneration levels (Langford, Citation2018) are countered with mantras that VCs lead large and complex businesses within which they work hard for objectively set pay (Blanchflower, Citation2017). Isaac Newton had to leave town for several months or years. We need more meaningful metrics, says Adrian Furnham, Average leaders remuneration stood at 308,000 last year, according to analysis of 118 university accounts, For all their collegiality, pay disparity in Australian universities is not out of step with big business, Up to 50 staff at wealthier Australian institutions out-earn the average English vice-chancellor, FOI documents reveal. << Weve been struck by the biggest shock in the history of higher education, Schmidt says. /ExtGState 31 0 R From 1976 to 1986, the Australian government set recommended maximum salaries for vice-chancellors. Million-dollar-plus salaries are a PR problem with the government and the general public. Policies and Procedures Library - The University of Queensland, Australia That honour went to Jim Albracht, still one of his closest friends and now director of product management for news ecosystems at Google. A significant uptick in VCs remuneration has occurred relative to other academic salaries. Australian University Ranking | UniversityRankings.com.au. endobj The pay of Australias top-earning university leader the University of Sydneys Michael Spence, who is on A$1.4 million was nearly twice that of the UKs best-remunerated vice-chancellor last year, Bath Spa Universitys Christina Slade, ironically an Australian whose 808,000 package included a 429,000 exit payment. ANUs $260 million Kambri Precinct has transformed the campus. /Type /Page /MediaBox [0 0 595 842] Average salaries in the UK stand at 268,103, or 289,756 once pension contributions are included less than any Australian university boss apart from Peter Sherlock of theUniversity of Divinity, a niche institution with 590 students. When a vice-chancellor is paid twice the salary of the prime minister, it does seem something is a bit wrong, said Mr Norton. We argue that this area requires urgent governance reform. In 1975, our research suggests, vice-chancellors at elite Australian research-intensive universities received about 2.9 times the pay of regular lecturers on Level B the second-lowest and most numerous academic grade. I do this job out of passion, right? Professor Schmidt said. Thats just the way it works.. Uu:4g#A(sp 6;NKFwVafKqr8BM|~+aZ (A1XK;R`v0)|L&bf~f4cdnJpN" -^q_#(=Ci[]nXy2cvAaL)j2 M8@ CV,Vju! Averages include figures for v-cs who served less than a full year, #1 Submitted by GavinMoodie on August 31, 2018 - 7:57am. Another four have sacrificed 10 per cent, two have made one-off donations and another is considering how much to forgo. How Australian vice-chancellors ' pay came to average $1 million and /Font 29 0 R . Australia and the UK experience regular annual outrage over vice-chancellors' pay. /Parent 2 0 R The university, which has not yet announced Professor Beans successor, posted a $55.93 million deficit last year, putting it among the universities worst hit by Australias border closures, which have severely disrupted the nations $40 billion international student market. /Type /Page 2022-02-22T13:09:18+01:00 Meanwhile, Monash University boss Margaret Gardners salary dipped below A$1 million because of a change in her pay cycle. I raised my hand before all of this and lowered my intake, right? /Kids [5 0 R 6 0 R 7 0 R 8 0 R 9 0 R 10 0 R 11 0 R 12 0 R 13 0 R 14 0 R /Type /Catalog Vice-chancellors pay has soared over recent decades (although most accepted pay cuts this year as part of COVID-related savings). Schmidts motivation was that by keeping ANU small and elite, a high-quality education and experience could be guaranteed for all students, international and domestic. /Rotate 0 But he said that it would be simplistic to attribute the trend to pure greed. Policies and Procedures Library - The University of Queensland, Australia Second, principals can align agents interests to their own using remuneration managers will seek to maximise shareholder wealth if they share in it (Jensen & Meckling, Citation1976). Further, there is a demonstrated link between these increases and formulaic pay-setting mechanisms such as benchmarking (Gschwandtner & McManus, Citation2018). Professors Tom Smith and James Guthrie from Macquarie University Business School said the average pay of Australia's 39 vice-chancellors - the university equivalent of a chief executive - is . First, principals may institute costly governance systems that delimit, control and monitor agents actions. $100 million a year, still wouldnt do it. Rather than be the head of the organisation who seems completely disconnected, it is really important, in my opinion, for the vice-chancellor of a university like ANU, to be seen as part of the professoriate. It's not their job. /Rotate 0 Since being named co-winner of the 2011 Nobel Prize for Physics (with Saul Perlmutter and Adam Riess) for the discovery that the expansion rate of the universe is faster than it was in the past, Schmidt has made sure that money or what he does with it is very much part of his schtick. Alex Ellinghausen. Australian universities, academic workforce casualization, vice-chancellor salaries, quality of education Indeed, some of Australias most highly paid vice-chancellors are attached to universities with relatively small budgets and well outside the worlds top-ranked institutions. /Font 26 0 R Over the past 30 years, Australian and British universities have been marketised, emulating private-sector for-profit organisations. Register a free Taylor & Francis Online account today to boost your research and gain these benefits: Paying the piper: the governance of vice-chancellors remuneration in Australian and UK universities, a New Social Research, University of Tampere, Tampere, Finland, b School of Education, Deakin University, Geelong, Australia, Robbins remembered and dismembered, contextualising the anniversary, Department of Education Science and Training. /ExtGState 18 0 R It was outstanding., Schmidt with his wife Jenny Gordon, who is the chief economist at the Department of Foreign Affairs and Trade. If not, we need to understand how salaries have been inflated and find ways to keep them in check. /MediaBox [0 0 595 842] >> On current trends, the average pay package will exceed A$1 million next year. We then review the existing literature on VCs remuneration, and describe the techniques utilised that drive increases. To learn about our use of cookies and how you can manage your cookie settings, please see our Cookie Policy. Dr Spence's estimated salary is $1.6 million but the UCL president earned $736,000 in 2018-19. SolenSoftware Actavia 3.4 (Journal system) Staff - Research roles. At the UKs University of Bath, for instance, the council has been criticised for being too cosy and too socially aligned with the VC: There is a tendency to want to have a highly paid vice-chancellor because it shows what an important job Im doing as a lay governor, says Shattock, who also believes that the inexorable rise of university leaders salaries is, to some extent, caused by laziness. Professional management functions have come to the fore in the pursuit of business objectives and VCs both see themselves and are seen by others, including governments and government agencies, as chief executive officers. /Resources << Top 10 Vice-Chancellor Salary Packages AUD$, Please prove you are human by selecting the, Copyright 2015 - 2021 Australian Education Network - All rights reserved, Complete List of Vice-Chancellor Pay & Salary Packages At Australian Universities, List of Vice-Chancellor Pay & Salary Packages, Revenues and Surpluses At Australian Universities, Historical Development of Australian University Sector, University Bachelor Degree Completion Rates, QS Employability Rankings Australian Universities, ARWU World Rankings of Australian Universities, Top 10 Highest Paid Vice-Chancellors @ Australian Universities, ARWU World Rankings of Australian Universities Group of Eight (go8) World Rankings.

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