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Universities struggling to compete with industry on research pay

<ÁñÁ«ÊÓƵ class="standfirst">In global survey, barely one in 10 academic leaders say they feel well prepared to address the challenges of providing competitive compensation
March 12, 2024
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Attempts to attract and retain academic talent are being hindered by universities¡¯ inability to offer competitive salaries, with barely one in 10 higher education leaders feeling well prepared to address this challenge.

In a , publisher Elsevier found that 75 per cent of academic leaders believe tackling the challenges associated with attracting and retaining talent is a high priority for them, but only 11 per cent feel well prepared to address the challenge of providing competitive compensation and benefits. Ninety-three per cent of respondents say they need more funding to attract the best talent.

Since the pandemic, researchers have greater bargaining power, sometimes choosing to leave universities for better-paid private sector jobs.

Nick Fowler, Elsevier¡¯s chief academic officer, said universities faced a ¡°war for talent¡± and that some risked finding that ¡°when they lose talent they get into a negative spiral where their reputation becomes damaged and it becomes harder to attract [academics]¡±.

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One academic leader from the Americas told the report that they ¡°struggle to recruit the best people and, on the other hand, we risk losing them to industry sectors where they are in high demand¡±.

¡°If you take an area like generative AI, most of the top people have left academic positions to work in industry. That¡¯s true in the top US universities and true at Cambridge, Oxford, UCL and Imperial, from what I¡¯ve seen,¡± they said.

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According to the report, institutions in North America are generally able to offer more ¡°attractive¡± salaries than any other region, leaving those in other parts of the world unable to compete financially. However, leaders from the Americas often still feel unprepared to offer competitive packages.

The survey also found that nearly four in five leaders (78 per cent) consider providing facilities for research a high priority, and only 31 per cent feel well prepared for this, but the report¡¯s authors warn that infrastructure investments must be matched with ¡°long-term investment in human resources¡± in order to see a return.

More widely, 84 per cent of respondents say that securing financing for research is a high priority for them, but only 49 per cent feel that their institutions?are well prepared for this. Sixty-six per cent expect this challenge to grow over the next five years.

¡°There are lots and lots of things on university leaders¡¯ and funders¡¯ minds and there¡¯s also relatively low preparedness to address those issues,¡± Dr Fowler said.

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helen.packer@timeshighereducation.com

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<ÁñÁ«ÊÓƵ class="pane-title"> Reader's comments (4)
This starts at the PhD level when even full research grants (?20k) don't cover much more than the rent and bills (c. ?14.5K for a room) in cities like London
Yep UK academia is becoming very uncompetitive we need to cut ridiculous amounts wasted on senior managers and excess bureaucracy and reward the academics properly. My lectures generate ?20,000 per hour in revenue....so where is all the money going ???
I say this is complete nonsense. Universities pay ridiculously high salaries to senior managers, most of whom have no discernible abilities and acheive absolutely nothing during their tenure. At least 95% of these people are absolutely incapable of holding down a busy university teaching job. The idea that they could survive more that 5 min in any truely competitive industry is laughable. Senior management salaries need to be capped.
Good article adumbrating much of what has been known for ages. In response to #3, I thought the article was about attracting top end research academics rather than attracting more of the usual gang of HE senior administrative and management wetwipes. The HE sector chose to follow the neoliberalism corporate model and now they have to contend with the consequences of being hoist by a very big petard.
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