We are committed to transparency with regard to the remuneration of senior staff, including that of the Vice-Chancellor, and publish these annually in the University’s financial statements.
The salary for the Vice-Chancellor, Professor Colin Riordan, is £289,275 per annum.
The Vice-Chancellor’s base salary and the resulting pay ratio to the median staff salary continues to be at the lower end of the Russell Group, where the average base salary incorporating payments in lieu of pension is circa £340,000.
|Salary paid over 2019/20||£269,0001|
|Salary review||An annual review of base pay in relation to the market|
|National Pay Award||Yes, the same as for other staff|
|Bonus||Vice Chancellors Reward Scheme, a long term organisational bonus scheme over 2018-2023|
|Pension||No pension contribution outside death in service|
|Private healthcare||Yes, to the value of £1,000|
|Relocation allowance||£8,000 as per standard arrangements for other Professorial/Senior Staff|
|Car||Use of a University car which is also available to University Executive Board Members|
|Travel expenses||Class of travel and regulations as for other staff|
|Sabbatical||As for other staff|
|Remuneration for external responsibilities||Considered on a case-by-case basis and approved by Chair of Council|
|Start date||1 September 2012|
|Term||Current term to 31 August 2023|
1The Vice-Chancellor took a 20% cut in base salary for 6 months during 2020, which amounted to a reduction of £28,500.
This Remuneration Package has been determined according to a number of factors including, but not limited to:
- the depth of the Vice-Chancellor’s leadership, management and academic experience within the higher education sector;
- the breadth of leadership responsibilities for one of the UK’s largest universities consisting of 33,260 students and 5,945 FTE staff; as well as a global community of 160,000 alumni in more than 180 countries;
- the financial responsibilities for an institution with an annual turnover of over £500 million; and which contributes more than £3.23 billion to the UK economy, generating £6.30 for every £1 we spend and supports 1 in 130 jobs in Wales; and
- the accountability for sustaining a TEF Silver-ranked educational experience for our students; and a world-leading research portfolio worth £100 million devoted to solving some of the most pressing global challenges, to the benefit of society in the UK and around the world.
Salaries for senior staff and the Vice-Chancellor are set by the Remuneration Committee - part of the University’s Council, its governing body - which comprises independent external members of Council, who possess commercial and public sector pay knowledge and expertise, whose terms of reference can be found within the University’s Ordinances.
Professor Colin Riordan took up the post of President and Vice-Chancellor on 1 September 2012.