Cryptic crossword clue
Failing opportunity, turn up to get university position 4-10

The most common and most likely answer to this crossword clue is the 15 letter word VICE-CHANCELLOR

I've seen this crossword clue in The Guardian
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More clues leading to the result VICE-CHANCELLOR

Buddy explains!

The straight part
We know that "university position" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case university position = vice-chancellor.
The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.
This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.

Crossword Answer definitions

VICE-CHANCELLOR noun
  1. An official holding a rank immediately below that of chancellor.
  2. A lower judge of chancery.
  3. In Roman Catholicism, the cardinal whose duty it is to draft and dispatch papal bulls and briefs.

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