OXFORD University’s vice-chancellor was the third highest paid in the UK last year, according to a report.

Professor Andrew Hamilton earned £442,000 in 2013/14 and was one of 18 who received a pay rise.

Only Professor Neil Gorman of Nottingham Trent University – £623,000 – and Professor Malcolm Gillies of London Metropolitan University – £453,000 – were paid more last year.

The report, produced by University and College Union, showed the average vice-chancellor’s pay was £260,290.

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Spokesman for Oxford University Stephen Rouse said Mr Hamilton’s salary reflects Oxford University’s status as one of the leading universities in the world.

He said: “Oxford University is consistently ranked as one of the two best universities in the UK and among the handful of best universities in the world. Its research output is vast, it has a £1bn-a-year turnover not including the colleges and Oxford University Press, and it has great institutional complexity.

“The vice-chancellor’s salary reflects that.”

Professor Hamilton also racked up the fourth highest airfare bill, spending more than £34,000 on flights, more than three times the average UK vice-chancellor of £9,706.

Mr Rouse said: “Oxford is one of the great international universities, making a major contribution to the UK’s position in the world, as well as to tackling global challenges through its research.

“Overseas travel is an important part of the vice-chancellor’s role in maintaining the university’s globally competitive position.”