To chart the dramatic rise of university management pay, we have combined two sets of figures from their accounts.

The first is a pay league of more than 150 vice-chancellors, including pension contributions: from £474,000 for the head of the London Business School, down to a relatively modest £122,000 for Michael Earley, principal of the Rose Bruford drama college in Sidcup. The second is of senior staff paid more than £100,000 a year, adjusted to reflect university sizes.

Eight appear in the top 20 of both lists: the London Business School, University College London, Liverpool, Imperial College London, Nottingham, Oxford, King's College London and Bristol. On analysis of these eight, we discovered that the earnings of their vice-chancellor,the chief executive, have sometimes doubled or tripled over the past decade, vastly outpacing the 30% rise in inflation. The number of other top academics paid more than £100,000 has also mushroomed; some universities now have hundreds, and the overall total runs into thousands.Whitehall does not require universities to disclose staff identity or the job titles, other than vice-chancellor.

The rise in the cost of vice-chancellors partly comes through the dramatic increase in institutions classed as universities, previously only colleges of various kinds. Part of pay inflation also comes from NHS distinction awards to medical consultants, often the bulk of higher-paid academics.

The London Business School easily tops the league, but is a largely commercial operation, and only gets 7% of research funds from the taxpayer.

1 London Business School 78%

Dean Prof Sir Andrew Likierman

Paid, 08-09 £474,000 (up 15% on year before)

Staff paid more than £100k 100

They say "We compete in a global market … to attract the best business and management thinkers. School is ranked world's no 1 for its full-time MBA"

The future "Increases in academic fees are planned to continue into 2010 … Emerging from the market uncertainty it is difficult to predict growth in our executive education programmes"

2 University College 137%

Provost Prof Malcolm Grant

Paid, 08-09 £404,000 (up 15%)

Number paid over £100k 311

They say In "strong period of growth … the provost's salary reflects the view of UCL Council [of] his outstanding leadership … Along with the university's senior management team, [he] has agreed to forego a discretionary pay rise for the current year"

The future "We and other universities face the prospect of real and significant cuts in funding"

3 Liverpool University 188%

Vice-chancellor Prof Sir Howard Newby

Paid, 08-09 £386,000 (up 20%)

Number paid over £100k 112

They say "What it takes to attract, retain and reward individuals of sufficient calibre, experience and talent in an increasingly competitive sector"

The future "An anticipated worsening fiscal backcloth"

4 Imperial College 162%

Rector Sir Roy Anderson

Paid, 08-9 £339,000 (rector changed last year)

Number paid over £100k 227

10-year rise for rectors: 162%

They say "[As] a globally renowned institution … providing competitive salaries is a key part of recruiting and retaining world-class staff"

The future "High levels of public debt will mean tough decisions "

5 Nottingham University 103%

Vice-chancellor Prof David Greenaway

Paid, 08-09 £338,000 (Up 7.7%)

Number paid over £100k 112

They say "An institution... with a turnover of almost £500m is complex and demanding. Therefore, we would expect to be paying a higher than average salary… Student numbers… have nearly doubled since 1999."

The future "The economic situation has presented challenges … and will continue to do so"

6 Oxford University 220%

Vice-chancellor Prof Andrew Hamilton

Paid, 08-09 £327,000 (up 20% on year before)

Staff paid more than £100k 238

They say "No 1 university in country … biggest research provider ... External research income doubled over five years of [predecessor's] vice-chancellorship and fundraising raised £770m."

The future "Government budgets under immense pressure …. financial challenges facing university are significant"

7 King's College 100%

Principal Prof Rick Trainor

Paid, 08-09 £312,000 (up 6.8% on year before)

Staff paid more than £100k 202

They say "Competes internationally for the very best staff … Substantial increases in clinical academic staff pay follow[ed] introduction of consultants' contract in 2004. The principal, along with his senior team, has also agreed to freeze pay for 2009/10" The future "Tough times … are ahead… resulting in large reductions in funding for all UK universities"

8 Bristol University 125%

Vice-chancellor Prof Eric Thomas

Paid, 08-09 £309,000 (up 8% on year before)

Staff paid more than £100k 91

They say "Normal comparators …are the salaries of leaders at other [elite] Russell Group universities…The VC took no pay rise last year, and made a donation to university of £100k…He and rest of the senior team requested they receive no rise this year"

The future "Severe pressures on the public sector"

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