Vice-chancellors’ pay cut as NSW universities feel heat over salaries
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Vice-chancellor salaries at most NSW universities fell or stayed flat last year, as bosses took pay cuts amid a financial crunch and new VCs were offered smaller packages to defuse festering controversy over high remuneration.
The heads of The University of Sydney and UNSW took pay cuts of several hundred thousand dollars in 2020 after border closures stopped international students – upon whose fees they rely heavily – from travelling to Australia.
The pay package for the top job at Sydney University will also shrink by more than $500,000 a year for the new vice-chancellor, Mark Scott, who will begin at the university next month. He will earn a maximum of $1.15m including bonuses.
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A new tax deal struck by the Group of Seven finance ministers will not necessarily translate into much bigger Australian tax bills for technology giants such as Facebook, Google, Apple and Amazon, which have for years shifted revenue offshore into more favourable jurisdictions, tax experts say.
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