Sorry. The figures don’t really justify the headline. Last year college sector principals had fairly modest pay rises - especially sixth form college principals. This would appear to contrast with chief executives in the universities sector.
With the data on college accounts published by the Learning and Skills Council, I calculated the median pay for principals in 2006/7 and 2007/8. I also separated general further education (GFE) and tertiary colleges (TC) from sixth form colleges (SFC). (I chose the median as it is less likely to be distorted by, for example, large severance packages or interim principals.)
In 2007/8 the median GFE/TC principal was paid £111k – up 5.7% the previous year. The median SFC principal was paid £87k – up 3.6% on 2006/7. (These figures omit the value of non-pay benefits.) Between August 2007 and July 2008 the RPI fluctuated between about 4% and 5%.
(If anyone would like more details, please get in touch via my website.)
With the public finances being increasingly squeezed, it looks like principals are leading by example.
UPDATE: The Universities and Colleges Union has also looked at the data. UCU have a different perspective. They also use the figure for pay rises given by colleges rather than calculating the rise in pay (which includes bonuses).
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