Consultants are now deployed at enormous expense to help universities corporatise their operations. Young students have never paid so much for so little.
Most vice chancellors are earning at least twice as much as the premier, despite all eight universities posting deficits as the pandemic continues to weigh on their finances.
Vice-chancellors’ pay cut as NSW universities feel heat over salaries
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Vice-chancellor salaries at most NSW universities fell or stayed flat last year, as bosses took pay cuts amid a financial crunch and new VCs were offered smaller packages to defuse festering controversy over high remuneration.
The heads of The University of Sydney and UNSW took pay cuts of several hundred thousand dollars in 2020 after border closures stopped international students – upon whose fees they rely heavily – from travelling to Australia.
The pay package for the top job at Sydney University will also shrink by more than $500,000 a year for the new vice-chancellor, Mark Scott, who will begin at the university next month. He will earn a maximum of $1.15m including bonuses.