Law students across the country have lambasted College of Law (CoL) chief Nigel Savage for accepting a 40 per cent pay rise last year, which sent his already fat paycheck spiralling to the dizzy heights of £440,000
The 2009 accounts for the CoL, which is a registered charity, show that not only has Savage’s pay been boosted but his number two, deputy chief executive Alan Humphreys, has also received a 33 per cent increase too. This has pushed his wage packet up to £410,000.
The accounts also show that every member of the seven-strong CoL management board is paid more than £190,000 – an average of £275,000 each.
Law student Grace Salmern, who is studying at Queen Mary University of London, said: “This is a typical fat cat scenario. It’s supposed to be a charity and care about its students but it’s obviously charging them too much for courses if it can afford to pay its management this much, especially in a recession.”
But CoL has defended its whopping salary increases by linking the rises to a series of performance related bonuses rather than a boost in basic pay.
Chairman of the governors David Yates said: “CoL is a unique organisation which does not have access to either public funds, unlike universities, or private capital, unlike our major for-profit competitors. Instead it has to win all of its income for both operating expenditure and investment solely through commercial activity.”