HALTON College's new principal and chief executive will earn just two-thirds of what previous incumbent Martin Jenkins was paid.
The new post, advertised in last week's TES, carries a salary of around pound;70,000 - significantly below the pound;118,000 that made Mr Jenkins the highest-paid principal in FE and less even than his deputy Jenny Dolphin was paid.
Mr Jenkins and Ms Dolphin continued to draw their salaries for a year from the time they were suspended in May 1998 while financial irregularities at the college were investigated until they resigned in April this year.
The advert says that "after a recent difficult period" Halton is "repositioning" and needs a principal who is "dynamic, talented and experienced".
In contrast to the extensive franchising arrangements of the previous regime that once made Halton the fastest growing college in the country, its central aim is now "to expand local provision".