MIDDLESEX UNIVERSITY – NOTES TO THE ACCOUNTS (continued)
Year ended 31 July 2021
9. STAFF COSTS (continued)
average (£301k in 2017/18) and the Remuneration Committee considers this amount of remuneration to be an effective use of resources as it must attract the best leader possible in order to deliver the best outcomes for students, society and the economy.
Process for judging performance
The Remuneration Committee reviews the Vice-Chancellor’s individual performance against targets agreed by Chair of Board of Governors, through a series of regular meetings, with a particular focus on the Vice-Chancellor’s contribution to progress in achieving the University’s strategic aims.
The consideration also includes assessment of the Vice-Chancellor’s individual performance based on the University’s Senior staff appraisal scheme where the level of pay awards to other senior staff is also taken into account.
Pay multiple
The relationship between the Vice-Chancellor’s remuneration and that for all other staff, expressed as a pay multiple, during the year were:
Year ended 31 July 2021
Vice-Chancellor Professor Nic Beech
University
Vice-Chancellor pay (annualised amount) Median pay for all other staff Pay Multiple
Basic Salary £’000
250.0 43.9 5.7:1
Remuneration £’000
285.0 53.0 5.4:1
Year ended 31 July 2020
Interim Vice-Chancellor James Kennedy:
2 September 2019 - 2 March 2020 University
Vice-Chancellor pay (annualised amount) Median pay for all other staff Pay Multiple
Basic Salary £’000 212.9
42.7 5.0:1
Remuneration £’000 252.0
51.1 4.9:1
Total Total Year ended 31 July 2020
Vice-Chancellor Professor Nic Beech: 3 February 2020 - 31 July 2020
Basic Salary £’000
250.0 42.7 5.9:1
Year ended 31 July 2020
Former Vice-Chancellor Professor Tim Blackman:
1 August 2019 - 30 September 2019 Total
Basic salary £’000 265.2
42.7 6.2:1
The pay multiple represents the Vice-Chancellor’s 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.
Remuneration £’000 294.8
51.1 5.8:1
Remuneration £’000
295.0 51.1 5.8:1
Total
118
Middlesex University
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