Former foreign affairs minister Julie Bishop will be paid $75,000 a year in her new role as Chancellor of the Australian National University.
Gareth Evans, former foreign minister under the Hawke and Keating governments, has served as chancellor since 2010. He was also paid $75,000 this year, but the honorarium had been $35,000 a year since 2012.
A spokesman for the university said the pay packet increased so steeply because it was "long overdue for review".
"The ANU Council decided that, from 2019, a more appropriate honorarium for the position of Chancellor was $75,000 - the same for the current, as well as the in-coming Chancellor," he said.
It was believed the new amount better reflected what was actually required in the role.
According to the ANU website "The Chancellor presides over the Council and plays a key role in official functions at the University, including at graduation ceremonies".
A part time role, it is similar to a president or chairman of a board at a private company.
According to the university's annual report, members of the council are not paid but the chancellor is paid "a modest honorarium ... in recognition of the responsibilities and time involved in the discharge of the office".
The chancellor chairs the meetings of the council, of which there were six in 2018.
ANU's vice-chancellor Brian Schmidt is famously paid significantly less than other vice chancellors around the country, taking home $662,500 in 2017, while other vice chancellors are paid well above $1 million.