BARONESS MINOUCHE SHAFIK LONDON SCHOOL OF ECONOMICS
LSE director Baroness Shafik earned a basic salary of £378,000 last year but took a 20 per cent pay cut in the pandemic. However her net salary was still £8,000 more than the previous year due to a planned pay rise, according to university accounts. She also had £79,000 in pension contributions, up £13,000 on 2019, and has accommodation worth £54,000 a year from the university, making her total package around £507,000. The LSE admits she earns 10 times the university’s average salary. With accommodation this rises to 11.5 times.
The peer is a former permanent secretary at the Department for International Development and was deputy managing director of the International Monetary Fund.
When she served as Bank of England deputy governor from 2014 to 2017, Baroness Shafik was responsible for its balance sheet of more than £500bn.