It’s that time of year again: principals’ pay week. There’s been a huge amount of interest in the story that Tes broke online last Friday, revealing the best-paid college leaders in the land.

Everyone loves poring over the list of the big names and their big pay cheques. The instinctive reaction, particularly among those of us earning significantly less than the high-flying CEOs, is often outrage - particularly given the apparent gulf between many leaders and their staff who, in most cases, received no annual pay rises in 2015-16.

But the issue is complex. Colleges need to offer salaries high enough to attract leaders who will ensure their ongoing success, during a period in which strong leadership has never been more important. And these are individuals who can often earn significantly higher pay packets in the private sector. We’ve seen a growing number of leaders moving into FE from other sectors; in some cases, they even end up taking a pay cut. As Sir Frank McLoughlin explained in last week’s Tes (“We’ve got a big role to play in the success of our nation”, 21 April), bringing new perspectives and expertise into FE can be “healthy”.

This isn’t to say colleges should flash cash to compete with the private sector. Their funding comes from taxpayers, and fiscal responsibility is non-negotiable. We’ve all heard of individuals running colleges like personal fiefdoms, and being lavishly remunerated. Just because there are more outrageous examples of high pay in other sectors, it does not mean that extravagance in FE can be excused.

@stephenexley