Oxford leaves Cambridge in its wake, on local pay issues.
£1500 Pensionable “Oxford Weighting” *
During her admission speech in January 2023 the Vice-Chancellor, Irene Tracey, commissioned a review of all aspects of pay and conditions for University staff.
Not very exciting as Universities love a good review, even more than they love a committee.
However unlike the ever parsimonious Cambridge, an institution that would claim it was “a bit broke this month” when everyone was putting into the whip round for a departing colleague, Oxford actually wants to stand its round!
https://hr.admin.ox.ac.uk/pay-and-conditions#collapse4849576
Oxford says
The findings of this review were submitted to the Vice-Chancellor and University Council in February 2024. The package of measures to be taken in response represents a commitment of approximately £129 million over five years to action across pay and non-pay benefits, to transform the culture of how we invest in people at Oxford.
(Bit different to “We have no money”…)
Of most interest to our members, is this
With effect from 1 August 2024, the University(Oxford) will:
Introduce a pensionable Oxford University Weighting of £1,500 a year (pro rata) for all staff on grades 1–10 of the main salary and grading structure. This will be implemented in the September 2024 payroll and backdated to 1 August 2024.
Cambridge hates being second to Oxford, in anything. How has it got into a position to be a distant second in how it rewards its staff?
* It’s not very much, we think Oxford can do better, but it is a start, come on Cambridge get your finger out!