How Can Vice‐Chancellor Compensation Be Justified? Evidence From New Zealand

Muhammad Nurul Houqe, Alva Marasigan and Charl de Villiers

Accounting and Finance, 2025, vol. 65, issue 3, 2805-2820

Abstract: Vice‐chancellors' salaries have been criticised in the media and examined by scholars. Therefore, we examine whether vice‐chancellors' compensation can be explained by performance, job size/complexity, and/or the incumbent's characteristics/abilities. Our sample consists of all New Zealand universities' vice‐chancellors' pay from 2010 to 2023. We find that university characteristics (higher university rankings, having a medical school, and more students), university governance (larger size of the senior leadership team), and vice‐chancellor characteristics (being female, older, and being a New Zealander) are associated with higher vice‐chancellor compensation. The prior literature has largely ignored the added complexity of a medical school. JEL Classification: M4, M41, M48

Date: 2025
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