An investigation reveals a surge in executive pay at Australian public universities, with spending on key management personnel exceeding $220 million annually.
Scores of public university executives are taking home pay packets of more than half-a-million dollars as the sector’s spending on key management staff exceeds $220 million a year. Analysis of financial statements reveals Australian universities have increased their spending on key management personnel by about 7 per cent, and more staff are taking home salaries of $500,000 or more.
The federal government is preparing to announce a taskforce that will advise education ministers on how executive salaries should be set. In 2023, public universities spent almost $240 million on their key executive salaries, up from $224 million the year prior. There was a 14 per cent increase in the number of key executives on salaries above half-a-million dollars in the same period, totalling 198 in 2023 across 37 public universities. Victoria and NSW had a larger increase in overall spending than the national average, with an 11 per cent and 9 per cent rise respectively. Monash University has the most “key” executives on $500,000-plus pay packets in the country (16), while the University of Melbourne had the country’s largest overall bill for executives at $13.7 million in 2023. A spokesman for Monash noted it was one of the largest universities in the country, and said it had a wider definition of reported executive officers than some universities. The University of Melbourne also said its definition of “key” executive officer extended beyond just the direct reports of the vice chancellor. “To ensure we continue to attract and retain the best candidates, we provide competitive salary packages to our employees who provide expertise and leadership across the university,” she said. In the same year, the University of NSW spent $10.3 million and the University of Sydney spent $7.6 million on key executives’ salaries
UNIVERSITY EXECUTIVES SALARIES SPENDING EDUCATION TASKFORCE
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University Executive Salaries Exceed $220 Million AnnuallyAnalysis reveals a 7% increase in spending on key management personnel by Australian universities. Hundreds of executives are earning over $500,000, with a 14% rise in those earning this amount or more. The federal government is forming a taskforce to advise on executive salary setting.
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