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Professor Gillies, who also claimed £1,966 in expenses last year, lives in a luxury £1.7million apartment in Barbican, central London.

Meanwhile, London Met is ranked worst in the country by the Complete University Guide.

This is around 5 per cent of its 12,510 staff – a far higher percentage than the 3.6 per cent at Cambridge University, where 387 out of 10,735 staff were on six-figure deals.

Malcolm Gillies, the former head of London Metropolitan University, was given a package worth £618,000, despite it being the worst university in the country – ranked 126th out of 126 by the Complete University Guide.

An investigation found a quarter of foreign students at the university had no visa, more than half were failing to attend lectures and tutorials and 40 per cent lacked basic English.

A total of 2,600 were warned they could face deportation, although it is not known how many were eventually removed.

The highest paid vice chancellor – with the £623,000 payout – was Professor Neil Gorman, of Nottingham Trent, an establishment ranked only 62nd in the league tables.

In April last year he was accused of bullying after he threatened to sack staff or dock their pay and pensions if they took part in a marking boycott against wage cuts.

After Martin Bean took over at the OU in 2009, student numbers plummeted by more than 50,000 and tuition fees for full-time courses more than tripled to £5,000 – a bigger relative increase than at any conventional university.

Hundreds of thousands of students are racking up substantial debts after universities argued for the rise in tuition fees of up to £9,000 a year, claiming it allowed their institutions to provide higher quality education.

The vice chancellor at the high performing London School of Economics spent almost £60,000 in one year on business class flights – and the Mail has discovered pictures showing he took his wife with him on one of the jollies to Colombia.

The head of Nottingham Trent, a former polytechnic, earned £623,000 last year, including £250,000 in bonuses while his university slipped nearly 20 places down the Complete University Guide’s rankings.

The huge pay awards come even as overall funding per student has fallen by 8.9 per cent since 2009-10.

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