The group, which calls itself Protect the Public University, says Thrift´s pay packet – which now totals £316,000 – reflects the marketisation of higher education.
The protesters, who began the occupation at 4.30pm on Friday last week, have released a list of eight objectives, urging that:
• the vice-chancellor affirms a commitment to the "protection and promotion of the public university"
• the vice-chancellor relinquish his "unjustifiable pay increase" and the funds be channelled into widening university access to disadvantaged students
• the university oppose the "current lobbying by Russell Group representatives to abolish the tuition fee cap and reduce bursary commitments"
The university says it has reminded the students that "there are innumerable opportunities to bring opinions and thoughts to democratic bodies".
The protesters have adopted the same colour as the Occupy movement at Sussex – yellow – and in one poster they reprint a Sussex slogan: "The university is a factory. Shut it down."
A spokesperson for the group says around half of the Warwick occupiers travelled to Sussex earlier this year to take part in a national demonstration which ended with parts of the Brighton campus being vandalised.
The protesters say that they intend the occupation to be in constant session.
Source: The Guardian