By Maddy Russell, News Editor
Brady will take a 20 per cent cut to his £300,000 salary while other members of senior management will also take a 10 per cent reduction.
University of Bristol Vice-Chancellor, Hugh Brady, has announced he will be taking a 20 per cent pay cut in response to financial pressures brought on by the coronavirus.
During a staff live stream on Thursday 23 April, Brady announced that a reduction in his salary had been confirmed by the remuneration board, the University body charged with determining pay for all senior staff.
It is believed that Brady will forego around £60,000 of his £300,000 salary.
This decision comes following a report by The Times on April 2 that many UK universities are facing a significant deterioration in their finances, as the majority of international students may choose not to take up their places in September.
It is estimated that the UK universities sector as a whole could lose up to £2.5 billion in tuition fees next year.
International students currently pay nearly double the tuition of national or EU students, with undergraduate students paying around £19,500 per year and post-graduates paying around £20,000 to £22,000.
Approximately 25 per cent of Bristol students are believed to have come from overseas.
A spokesperson for the University confirmed that the salaries of senior staff will be reduced, until student recruitment figures for the next academic year became clearer, stating: ‘The implications of COVID-19 will have a significant financial impact on the higher education sector, and Bristol is no exception.
‘As such, all members of the University's Executive Board have decided to take a voluntary salary cut until there is more clarity regarding the results of the 2020-21 student recruitment cycle.’
The implications of COVID-19 will have a significant financial impact on the higher education sector, and Bristol is no exception.
In March the University had previously confirmed that it was halting a growth in student numbers for the 2020/21 academic year, however this now appears uncertain.
Speaking to Epigram about the decision to reduce the salaries of senior staff, Vice Chancellor Brady said: ‘As an executive team, we are honoured to be part of an extraordinary institution. I would like to express my gratitude to all staff who are working so hard in these extraordinary times.
‘Many have been asking what they can do to help the University through this challenging time, and these offers are a powerful expression of Bristol's collegial community.
‘As one of the UK's leading research-intensive universities, we are determined to play our part in the local, national and global fight against COVID-19 and recognise our obligation to contribute to the regional and national economic recovery effort in the future.’
I would like to express my gratitude to all staff who are working so hard in these extraordinary times.
The University has also confirmed that 50 per cent of the money saved by the cuts to senior staff salaries would go to the Student Hardship Fund, whilst the other half will be placed as savings in the University budget.
Featured image:Epigram/Patrick Sullivan
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