University principal sees hike in salary
Boss faces union criticism
Stirling University’s principal was this week under fire after it emerged his salary last year jumped to £270,000.
Professor Gerry McCormac was awarded the three per cent rise at a time when the institution made a loss of more than £3 million and lecturers were offered a wage increase of little more than one per cent.
The 58-year-old physicist took only one per cent of the 2015-16 increase and gave the rest away to student-related causes.
However, a lecturers’ union hit out at the apparent double standards over pay awards applying to college bosses and their members.
According to the university’s latest accounts, Professor McCormac’s salary package rose from £262,000 in 2014-15 to £270,000 in 2015-16.
His salary jumped five per cent – from £249,000 to £262,000 – between financial years 2013-14 and 2014-15 – at a time when teaching staff had to fight for a two per cent deal.
The university’s accounts show a consolidated deficit for 2016 of £3.073 million.
Professor McCormac’s salary remains comfortably in excess of First Minister Nicola Sturgeon (£144,687), Prime Minister Theresa May (£143,462) and Chancellor of Germany Angela Merkel (£183,888).
The Stirling academic’s remuneration is, however, behind that of the American president Donald Trump, whose annual wage of $400,000 currently converts to about £318,000 and is enhanced by other fringe benefits.
A university spokesman said the principal’s salary was set by the university’s remuneration committee “at a level that is relative to the size and scale of the job and is adjusted in line with performance”.
He added: “The principal accepted a one per cent pay increase award for 2015-16, in line with the rise given to all staff.
“Any increase beyond this was donated to the vice-chancellor’s fund, to support a range of University of Stirling student projects, to directly enhance the student experience on campus.
“The university continues to be in good financial health and reported an increase in income, cash and net current assets in 2015-16. The introduction of the new Financial Reporting Standard (FRS)102 in 2015, meant significant changes to the way all universities are required to present their financial statements.
“The factors which led to the University of Stirling reporting a deficit in 2015-16 are technical. They revolve around the revaluation of the university’s land and buildings, and the associated impact on depreciation together with new accounting treatment in respect of capital grants.”
University College Union members asked for a five per cent rise but 1.1 per cent was imposed last autumn after a summer of industrial action.
A spokesman said the 1.1 per cent represented an ‘improved’ offer after UCU rejected the initial one of one per cent.
UCU Scotland Official Mary Senior said: “Sadly, we’re not surprised to be hearing reports about university principals being awarded above-inflation pay rises for another year.
“It’s par for the course and the surprise would be for university senior managers to show some restraint. With other university staff having a 1.1 per cent increase imposed after the employers rejected the unions’ claim, it seems that there is one rule for university principals and another for everyone else.”