Sydney Uni made half a billion dollars last year. Others are in debt
The University of Sydney recorded a surplus of more than $500 million last year while smaller institutions around the state lost money as they struggled to attract domestic students.
Strong investment returns, philanthropy and international student revenue helped deliver Sydney University's $545 million surplus. International students now make up 47 per cent of all undergraduates, the report said.
A narrow majority of vice chancellors running the state's universities were paid $1 million or more a year, annual reports show, including at Sydney University, where vice chancellor Mark Scott's remuneration increased by about $150,000 to $1.3 million. The pay bump brings him into line with what his predecessor Michael Spence was paid.
Scott told staff that the university's core activities of teaching and research recorded a loss, and the 2024 underlying operating result was a deficit of $69 million. He described the overall result as 'strong' in an uncertain year.
'Philanthropic funding, which often comes with restrictions on how it can be spent, and an exceptional 15 per cent return on our investments drove this headline result,' he said.
The University of NSW pocketed a surplus of just over $200 million this year, thanks to better-than-expected international and domestic student enrolments, which a spokeswoman said was driven by the prestige associated with its high scores in international league tables.
'UNSW has seen unprecedented demand over the past couple of years, driven by our rise to 19th in the 2024 and 2025 QS World University Rankings, a concerted post-pandemic international recruitment re-build strategy, and recent policy shifts in the UK and Canada,' a spokeswoman said.
'The global top 20 position reflects our strong academic offerings and growing reputation.'
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