A voluntary norm was introduced by the University Prime Minister’s Council (UCC) with the aim of increasing the transparency of compensation received by senior university executives.
Reward Codes for Vice Presidents and Senior Staff at Australian Universities (pdfSenior university staff must report all compensation to UCC, including incentives and bonuses.
“Our compensation code ensures that senior management compensation at Australian universities is competitive, relevant and transparent, and more widely understood and endorsed by sector stakeholders and communities. “We are aiming for,” UCC convenor Stephen Garrack said in a statement.
Gerlach, also Prime Minister of Flinders University in South Australia, said the code needed to be implemented to increase community transparency and explain why college salaries are in their current location.
“Part of this code is that UCC creates comparative information, which provides various reasons behind it if the university has its own practices in relation to a wider range of universities. “It helps,” Gerlach told The Epoch Times.
The code was voluntary, but Gerlach said there was no reason to think that the university would or wouldn’t adopt it.
“Last week, a meeting was held [the code] It has been approved by members of the council and is currently being referred to universities for recommendations that it should be adopted, “he said.
UCC will collect the reported figures and distribute the annual report from next year to all universities along with comparative data. We also use an annual benchmark review to compare college senior salaries with other civil servants.
The code began to be developed after $ 1 million ($ 734,000) plus widespread media coverage of the salary of Australian University Vice Presidents. This is much higher than what is paid to other university presidents around the world.
Former University of Sydney Vice President Michael Spence’s annual salary was over $ 1.6 million.But when he entered a prestigious university in London in 2020, he Reportedly I took a wage cut of 50% or more.
Angus Houston, President of the University of the Sunshine Coast, chaired the UCC Group that developed the code, saying that transparency of rewards allows society to gain better trust in university leaders.
Angus also said the median salary of the Deputy Prime Minister has fallen since the pandemic began.
“The median has dropped to less than $ 1 million.” Angus said Australian person. “I don’t think the very high salary that was a few years ago is there anymore.”