The chief executive of the lecturers' pension scheme at the centre of a university strike received a 17% pay rise worth an extra £82,000 this year.
Bill Galvin's pay package had risen from £484,000 to £566,000, said a spokeswoman for the Universities Superannuation Scheme (USS).
Running costs for the university pension scheme were £125m per year - including two staff earning over £1m.
Mr Galvin has described the pension scheme as "excellent value".
The pensions scheme now has a £6bn deficit and striking lecturers say that plans to tackle the shortfall will cut their retirement income by £10,000 per year.
Sally Hunt, leader of the UCU lecturers' union, said: "Whatever happens with this dispute, it is time for a proper look at what is happening with USS.