Financial Statements 2019/2020
MIDDLESEX UNIVERSITY NOTES TO THE ACCOUNTS (continued)
Year Ended 31 July 2020 9. STAFF COSTS (continued)
Year Ended 31 July 2020
Former Vice-Chancellor remuneration Professor Tim Blackman: 1 August 2019 – 30 September 2020
Basic salary
Payments in lieu of pension contributions Total remuneration
£'000
44 5
49
On 8 May 2019 the University announced the resignation of Professor Tim Blackman from the position of Vice-Chancellor with effect from 30 September 2019. His annual basic salary of £265k and payments in lieu of pension contributions remained the same for 2019/20 as for 2018/19. In 2019/20 he was paid for 2 months pro rata.
The Former Vice-Chancellor did not receive any pension contributions in the year (2019: nil). There was no compensation for loss of office paid to him.
Pay multiple
The relationship between the Vice-Chancellors remuneration and that for all other staff, expressed as a pay multiple, during the year were:
Year Ended 31 July 2020
Vice-Chancellor Professor Nic Beech
University
Vice-Chancellor pay (annualised amount)
Median pay for all other staff Pay Multiple
Basic Salary £’000
250.0 42.7 5.9:1
Year Ended 31 July 2020
Former Vice-Chancellor Professor Tim Blackman
University
Vice-Chancellor pay (annualised amount)
Median pay for all other staff Pay Multiple
Basic Salary £’000
265.2 42.7
6.2:1
Remuneration £’000
294.8 51.1
5.8:1 Total
Remuneration £’000
295.0 51.1 5.8:1
Total
Interim Vice-Chancellor James Kennedy
Basic Salary £’000
212.9 42.7 5.0:1
Restated
Year Ended 31 July 2019 Vice-Chancellor
Professor Tim Blackman
Basic salary £’000
265.2 41.9
6.3:1
Remuneration £’000
294.8 48.4
6.1:1
The pay multiple represents the Vice-Chancellors pay (annualised amount) divided by the median pay for all other staff at the University (excluding subsidiary companies), on a full-time equivalent basis.
The median pay for all other staff is calculated using pay data in the year for all staff who are required to be included in Real Time Information (RTI) reporting to HM Revenue & Customs. The median pay cost calculation for the year ended 31 July 2019 has been restated to exclude the total costs of agency workers hired via recruitment companies to work for the University, these costs are reported at note 10, other operating expenses.
Middlesex University 103 Total
Remuneration £’000
252.0 51.1 4.9:1
Total
Year Ended 31 July 2019
£'000
265 30
295
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