24th April 2018 By Peter Tremayne Falmouth University has declined to disclose the latest salary award to its Vice Chancellor, Professor Anne Carlisle. The six-figure pay and pension package, which…
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Perhaps when setting the salary of all Vice- Chancellors there should be some formulaic correlation between the number of undergraduates that study at the university (a capitation factor), and some relationship between the potential productivity of the graduates. This latter could be the earnings potential of the graduates as determined by, for example, The Times Good University Guide that annually gives the median six-month earnings for each university and for individual subjects taken. Equally, there is the additional important issue of the ability/ likelihood of any student paying back any loans that have been taken out, rather than this burden falling on the tax-payer when unpaid loans will be written off.
In the case of Falmouth University, the 2016 departing graduates achieved a median six-month salary of £16,800 p.a. Falmouth University achieved only the third lowest median six-month salary from a list of 129 Universities. 127th out of 129 is NOT a very significant achievement. (Sunday Times – 24th September 2017).
More recently, Falmouth University notched another low level of achievement where it is revealed that nearly 40% of Falmouth graduates from 2010-2014 failed to achieve a salary greater than £17,465, the then level at which they would have to start to repay student loans. Falmouth was 5th from the bottom of all universities in its ability to secure jobs that would contribute to the massive debts of students. One must also see this deficiency as a commentary on the contribution that these jobs might make towards the economy of the country. (Daily Mail – 22nd April 2018).
The threshold for the repayment of student loans has increased twice since these figures were relevant – firstly to £21,000 and less than three weeks ago to £25,000. It is most likely that the probability that Falmouth University students are rewarded sufficiently so that they can start repaying their student loans, has been further compromised.
Surely the return on investment (earnings potential and contribution to GDP) is now significantly diminished in the case of Falmouth students? Surely Falmouth University’s dismal ranking at the bottom of two important ‘league tables’ is very good reason for the Board members to question value for money in the remuneration awarded to their Vice-Chancellor for such a poor performance?
Is it not a maxim that a University Degree should contribute towards the economy, not contribute to the projected £5.9 billion annual bill for student loan write-off?
Quite honestly, this is outrageous. And to decline to answer a FOI request just compounds the arrogance.