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Remuneration Committee

Purpose of the Remuneration Committee

The Remuneration Committee is a sub-committee of Council, and acts with delegated authority from and is therefore accountable to Council for determining fair and appropriate remuneration for the Vice-Chancellor and other senior members of College staff. The committee will conduct its business in accordance with the Higher Education Senior Staff Remuneration Code published by the Committee of University Chairs (CUC), the requirements of charity law, and the principles of fairness, independence and transparency. The committee is responsible for ensuring that decisions regarding senior staff pay are evidence based, linked to the value delivered by an individual acting within a role, proportionate and necessary to support the long-term sustainability of the College.

Scope
The committee will consider the remuneration of the Vice-Chancellor and other senior staff earning in excess of £100k pa, or as defined in the annual accounts direction published by the Office for Students as the principal regulator for higher education institutions in England. 

Terms of reference 

  1. To agree and oversee the annual remuneration process for the Vice-Chancellor and other senior members of College staff.
  2. To review and agreed the College's policy for senior staff pay, designed to support high performance and taking account of internal and external data including: benchmarking of comparable roles in other organisations; market factors; increases in the average remuneration of other College staff; and the College's financial position.
  3. To ensure that there is a robust and consistent process for setting objectives and assessing the contribution of individuals whose pay is determined by the committee
  4. To review and determine senior staff remuneration
  5. To review equal pay issues with regard to senior staff 
  6. To ensure that there is clear and justifiable rationale for the retention of any income generated by an individual from external bodies in a personal capacity 
  7. To agree any severance package for senior staff earning in excess of £100k pa
  8. To provide Council with an annual report, in accordance with the CUC Remuneration Code 

Procedures 

  • The quorum for meetings of the committee is three members which should include the Chair of the Committee.
  • The Remuneration Committee shall meet at least once per annum as required. 

Constitution 

Lay Member of Council (Chair): Jennifer Duvalier
Chair of Council (ex-officio): Baroness Rebuck 
Honorary Treasurer (ex-officio): Caragh Merrick
Up to two additional members who may be:
Co-opted members appointed by Council on the recommendation of the Nominations Committee due to their expertise in areas relevant to the Committee's work or lay members (neither staff nor students) of Council. 
Secretary: Director of HR, or nominee

Membership 

  • Co-opted members who are not members of Council will be appointed for a term of not more than three years, renewable for one further three-year term.
  • Lay members of the Council and ex-officio members will be appointed for a term of three years, renewable for a maximum of two further three-year terms, but terms of office will be co-terminus with the appointments to Council. 
  • Members will only be appointed and reappointed by Council following recommendation by the Nominations Committee