The University of Leeds’s 2018/19 Annual Report shows a significant increase in income and funding with a £38 million operating surplus.
It also shows an increase in the number of employees with salaries higher than £100,000, despite criticism from UCU members on strike in December.
With the release of the 2018-19 Annual Report, the University of Leeds has reported an operating surplus of £38 million pounds with the university’s total income standing at over £792 million.
This represents an increase compared to the previous year, when the operating surplus for the University was just under £10 million and a total income of £715 million.
The University also reported an increase in income of 11%. The reasons for the increase were outlined in the report – increases of 15% and 31% in fee and international fee income. There was also a growth of 12% in research income from £175 million in 2017-18 to £196 million.
Expenditure has also significantly increased from just over £705 million in 2017-18 to £745 million in 2018-19. Some of this came from a £25 million increase of 6% in staff costs, before the inclusion of changes to the USS pensions scheme. The reasons given for the increase were wage inflation, to support growth in research as well as student education activity.
Consolidated staff costs totalled nearly £412 million excluding the changes to the USS pensions scheme that totalled just over £135 million. The consolidated figures for staff wages and salaries was near £325 million, increasing from £305.5 million in 2017-18. Despite this, there was little increase in the mean salary from £41,138 to £41,874.
However looking further into the statistics, there has been a significant increase in the number of employees with salaries that are higher than £100,000, with an increase of 24. However, this growth appears to be less acute among on those with salaries higher than £200,000, whose numbers have only increased from 4 to 5.
The biggest changes in the figures in this group are those whose salary ranges from £100,000 to £104,999 with a decrease of 21 and those between £105,000 to £109,000 whose numbers increased by 32.
An estimated £20 million was spent on the salaries of 163 people. This was an increase on the previous year by an estimated three million.
However the average salary amongst this group only slightly increased. Over a million was also spent on the salaries for five people.
The increase in salary for those at the top of the University comes after members of the union UCU went on strike in December over issues of pay.
A University spokesperson said: “More than 80% of employees earning more than £100,000 are professors and clinical academics – not senior managers. Leeds is one of the biggest universities in the UK, so we inevitably employ more staff of all levels of seniority across academic and managerial roles. As a world top 100 university, we also operate in a globally competitive market, so we need to attract and retain the very best people to provide students with an exceptional education. We are always mindful of the need to provide value for money and remain committed to being transparent about senior staff salaries.”
Significant money was invested into the buildings on campus. £38 million went towards the construction of the Nexus building, opposite Central Village Halls of Residence and £53 million was spent redeveloping the Generating Station complex with Leeds Teaching Hospitals.
The report also included expected expenditure over the next two years. This included £96 million to build the new Sir William Henry Bragg Building, £71 million each to expand Leeds University Business School and develop Leeds Engineering technology, and £32 million to refurbish the Faculty of Biological Sciences.
Another expected expenditure increase that wasn’t included in the report however was an increase in the Vice-Chancellor’s salary.
Sir Alan Langlands’ salary of £281,000 did not increase for the third year in a row. However in September, Langlands announced that he intended to step down as Vice-Chancellor after seven years in the post and will continue to undertake his responsibilities and duties until a new Vice-Chancellor is appointed.
Sir Alan Langland’s emoluments of £294,000 (salary and pension together) are considered to be extremely competitive within Higher Education institutions, particularly at a University the size of Leeds.
Last year it was reported that the average salary of Vice-Chancellors across the country was over £250,000 for the first time despite criticism. It was also reported that nearly half of all Vice Chancellor salaries were higher than £300,000 with six Vice-Chancellors’ salaries were higher than £500,000.
With the University looking for a new Vice-Chancellor, it is likely that the salary for the next Vice-Chancellor will be higher than what the university is currently paying.
Image Credit: Ed Barnes