The vice-chancellor of the University of Cambridge received a pay rise of £20,000 last year, according to a study by Times Higher Education.

Professor Sir Leszek Borysiewicz last year earned £334,000, making him one of the highest paid university vice-chancellors in the country.

A University spokesperson said that the pay rise reflected “the VC’s sustained excellent performance since coming into office”.

The Times Higher study uncovered a pattern of substantial pay increases for Russell Group vice-chancellors in the year 2012-2013, the first year that tuition fees were set at £9,000 a year.

When pension payments are taken into consideration, vice-chancellors received an average of £318,500 last year – up from £302,500 in 2011-12, according to an analysis of 19 of the Russell Group’s 24 members.

The increase amounts to an average salary rise of 8.1 per cent and a 5.2 per cent rise in overall benefits in the year 2012-2013. The pay rise is significantly higher than the disputed 1 per cent pay deal agreed with university staff last year.