We pay our own way

The salary of the dean of London Business School or any other member of faculty at the school is not paid from public funds ("Uni boss's pay tops Pounds 250,000", THES, January 28).

LBS is predominantly funded from fees generated from its degree and executive programmes. The only public money is from the Higher Education Funding Council for England. This represents just 6 per cent of funding and is used primarily for research activities at the school. Thus, fee earnings cover almost all salary costs, the dean's included.

The school is competing in the global market. We must therefore apply worldwide conditions of service and remuneration in trying to attract the best students and the best faculty.

Jeffrey Defries Deputy dean London Business School