Bosses at UK’s top universities earn an average of 482,000 [Video]

Bosses of the UK’s top universities now earn £400,000 (€482,000) a year on average despite the financial crisis engulfing the sector, writes Eleanor Harding.

Analysis of Russell Group institutions reveals that overall vice-chancellor pay has risen amid a warning that they face “significant financial challenges” and a plea for more funding from the Government.

Tuition fees for students will also rise from £9,250 to £9,535 this autumn to keep universities afloat.

The 2023-24 accounts of 19 universities were examined by the Times Higher Education magazine.

It found the median pay package of vice-chancellors, which typically includes benefits such as housing and pensions, was £400,000.

In 2022-23, it was £396,000 and £381,000 in the previous year.

John O’Connell, from the Tax- Payers’ Alliance, said: “Taxpayers will be baffled by the eye-watering scale of these pay packets.

“While students sink into debt, university fat cats are raking in bloated salaries and plush perks.”

Leeds University …