Remuneration Committee - Remuneration of Principal (Vice-Chancellor), SMG & senior staff
1. Principal & Vice Chancellor Remuneration and Terms & Conditions
As the University’s Chief Executive Officer, the Principal has formal and wide-ranging responsibilities for the strategic leadership and direction of the University. The Principal is a member of Court and Convener of Senate. The Principal leads the Senior Management Group, which also includes the Senior Vice Principal & Deputy Vice Chancellor, Vice-Principals (9 in total), Chief Operating Officer & University Secretary and the Directors of Finance and Human Resources.
The remuneration and terms and conditions of the Principal & Vice Chancellor are determined by members of the Remuneration Committee. The Principal is not a member of the Remuneration Committee and is not in attendance at its meetings while his salary, terms and conditions are under discussion.
The Remuneration Committee’s review of the Principal’s salary is informed by:-
- the annual P&DR discussion conducted by the Convener of Court, reflecting a comprehensive feedback process involving staff, students, members of Court and the senior executive and informed by a by an assessment of his performance against agreed objectives in the preceding year.
- individual and collective SMG performance in advancing the University’s strategic objectives;
- the need to provide tangible reward for excellent performance and a competitive remuneration package that is consistent with robust benchmark data and reflective of equivalent positions within comparable Russell Group/major UK universities.
Following Court approval of a recommendation by the Remuneration Committee, the Principal’s salary was revised to £290,000 effective from 1 October 2017, £300,000 from 1 October 2018 and £310,000 from 1 October 2019, representing increases of 4.1%, 3.3% and 3.3% respectively, subject to continued high performance, as determined by the annual review process.
Ratio of remuneration of the Principal to the average salary of a University staff member, in 2017/18 – 8.3:1. In 2016/17 the equivalent ratio was 6.80:1
In addition to his salary from the University of Glasgow, the Principal is remunerated as a director of Universities Superannuation Scheme Ltd. The Principal gift aids this payment to the University of Glasgow.
2. Remuneration Committee
1. To formulate the University's remuneration policy, and to review that policy annually, recommending changes to Court as appropriate;
2. To determine the salaries of the Principal and other members of Senior Management Group, having regard to:
- Their performance in advancing the University's strategic objectives,
- The need to offer salaries that are competitive with those of other major UK universities, as reflected in robust comparative data, and
- The budget approved by Court;
3. Annually, to determine the University’s policy on the performance-related reward of professorial and senior administrative staff (all level 10 staff);
4. In the absence of the Convener of Court, to make recommendations on the nature and level of any remuneration for the Convener of Court, subject to approval by Court;
5. To advise Court on the University's policy on severance arrangements for staff, and, within parameters agreed by Court, to implement that policy, considering, on an individual basis, any severance proposal that:
- Departs from the parameters agreed by Court, and/or
- Pertains to for a member of the Senior Management Group
6. To maintain oversight of contracts of employment for senior staff;
7. To receive an annual report on expenses incurred by members of the Senior Management Group.
8. To ensure that the Committee's membership includes the skills and experience necessary to address its remit effectively.
9. To seek the views of representatives of students and staff of the institution, including representatives of recognised trade unions, in relation to the remuneration package of the Principal and the senior executive team.
Chair (lay member of Court), 2 other lay members of Court (one of whom will be the Convener of Court), 2 other co-opted members, 1 Staff Representative on Court, SRC President
In attendance (not if their own salary/terms under discussion): Principal, COO/University Secretary, Director Human Resources
3. Remuneration Committee minutes