Well-paid vicar let loose outside university (9)
I believe the answer is:
lucrative
'well-paid' is the definition.
(I've seen this before)
'vicar let loose outside university' is the wordplay.
'loose' indicates an anagram (letters are loosened from their original positions).
'outside' is an insertion indicator.
'university' becomes 'u'.
'vicar'+'let'='vicarlet'
'vicarlet' with letters rearranged gives 'lcrative'.
'lcrative' going around 'u' is 'LUCRATIVE'.
(Other definitions for lucrative that I've seen before include "Making a great profit" , "Well-paid" , "rewarding" , "Producing a sizeable profit" , "Revictual (anag.)" .)