College of Law Statement
11 June 2010
The College of Law 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.

This brings with it exceptional challenges in terms of management and governance and the remuneration levels for its management team need to reflect this. The College’s Governors receive independent advice on remuneration and incentive structures from Deloittes and this is benchmarked against comparable organisations including our private sector competitors.

The rise in remuneration for the Chief Executive and Deputy Chief Executive last year was due, not to an increase in basic salary which stayed the same as the previous year, but instead to the award of bonuses linked to the achievement of both annual and long-term performance targets. Their contribution to the College’s success in managing our resources has allowed us to expand our operations, protecting existing jobs and creating new ones, and to deliver greater surpluses to fund our charitable activities.

We feel that by taking the best independent advice in deciding the appropriate remuneration policy we have adopted the right approach and this is evidenced by the results that have been delivered.
 
David Yates
Chairman of the Governors
The College of Law