International Student “education” executive earned $38 million last year

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If you want a prime example of how Australia’s international education “industry” is all about earning rather than learning, and centred around enriching middle-men and administrators, look no further than IDP Education’s Andrew Barkla. He was Australia’s highest-paid CEO last financial year, earning nearly $38 million:

The company he heads places international students into Australian education and conducts English-language tests…

It is the first time a CEO outside the ASX100 has topped the Australian Council of Superannuation Investors (ACSI) list of the highest-paid CEOs…

An IDF Education spokeswoman said Mr Barkla’s current remuneration was “consistent with market benchmarking” and the value created through the exercise of those options in FY19 reflects the performance of the business during that period.

“IDP Education’s market capitalisation rose from $660 million at IPO to $4.4 billion at 30 June 2019, in turn resulting in significant value creation for shareholders of the company,” the spokeswoman said.

While Andrew Barkla and his university vice-chancellor mates earn fat paychecks, entry and teaching standards have been gutted to accommodate international students, cheating by these students is rife, Chinese influence runs rampant, and universities’ casualised workforce are underpaid and bullied into passing low performing foreign students.

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The whole international education industry is really just an immigration scam, with universities acting more like migration agents than educators.

These institutions have all but ruined their values, reason for being, and licence to operate.

It’s time for a royal commission into the entire stinking edifice.

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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.