File(s) under permanent embargo
Is UK Vice-Chancellor pay justified by university performance
journal contribution
posted on 2023-06-08, 22:01 authored by Barry ReillyBarry Reilly, Raymond BachanThe pay of university managers (vice chancellors, VCs) in the UK has risen sharply in recent years. This paper considers the extent to which VC pay awards are related to university performance measures based around institution mission and financial probity using an individual fixed effects strategy based on data covering academic years 1998–99 to 2008–09. In contrast to earlier studies on this theme, we find evidence that VCs are rewarded for observable mission-based performance measures. Specifically, our results suggest that success in widening participation for students from comprehensive schools and those from areas with low university participation exerts a positive effect on VCs’ pay. Securing income flows from university funding council grants also impacts positively on their remuneration. However, even after controlling for a rich array of observable and unobservable factors, there have been sizeable increases in real pay in recent years that cannot be readily explained. *
History
Publication status
- Published
File Version
- Published version
Journal
Fiscal StudiesISSN
0143-5671Publisher
John Wiley & Sons Ltd, 9600 Garsington Road, Oxford, OX4 2DQ, UKExternal DOI
Issue
1Volume
36Page range
51-73Department affiliated with
- Economics Publications
Notes
JEL classification numbers: J45, M5, M12.Full text available
- No
Peer reviewed?
- Yes