The extraordinary greed of university vice-chancellors

NSW MPs have taken aim at the extraordinary remuneration paid to the state’s university vice-chancellors, which averages around $1 million per year at the same time as hundreds of rank-and-file staff are being cut:

A NSW parliamentary inquiry has urged the Auditor-General to review $1 million-a-year salaries for university vice-chancellors, saying the disparity between their pay and that of their staff who were in insecure work represented a failure of leadership in the sector…

“The vast disparity between the salaries paid to senior university administrators and the casual and insecure payments made to so many of the staff who actually conduct the teaching and research in universities is a matter of real concern,” the report said.

“The current system that sees university vice-chancellors paid 25 or 30 times more than many of the people undertaking the core work of universities must be reviewed and the failure to do this by the governing bodies of universities is evidence of a failure of leadership”…

This follows reports late last year accusing universities of profiteering on the back of rampant wage theft:

Union representatives are concerned that wage theft by universities from their increasingly casual workforce could reach into all of Australia’s 39 public universities.

Michael West Media has learned that early results of a survey issued by the National Tertiary Education Union to its members show that the practice is effectively universal in the sector…

So far, least 10 Australian universities have admitted to underpaying casual staff, having to audit payments to staff or to being in industrial disputes with staff.

The 10 universities also collectively posted $1.12 billion in profits for the 2019 calendar year, a 46% rise compared with 2018…

Meanwhile, Australian vice-chancellors are also the highest paid in the world, with Sydney University’s Michael Spence topping the list at $1.6 million…

The profits of public universities, largely off the back of the boom in international students, are not taxed because these institutions are deemed charities despite becoming highly commercialised, as evidenced by the private sector salaries paid to senior staff and the high degree of casualisation.

But falling profits or even losses has had no effect on the salaries of the vice chancellors. The pay hikes averaged 6%, with other senior “executives” also getting significant pay rises. Meanwhile, workers in general have experienced a minimum five-year period of stagnating wages…

Australia’s university system has become commercialised and centred on maximising revenue and fatting administrator pay packets over teaching quality. It has shifted focus from higher learning to higher earning.

Front-line university staff have been gutted and entry and teaching standards trashed, with the ratio of students to academic staff ballooning at Australia’s universities:

While senior management earn hefty remuneration, 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.

At the same time, domestic students have been forced to carry Non-English Speaking Backgrounds (NESB) students through their courses via group assignments. These group assignments pair local students with international students, often resulting in domestic students doing most of the work, effectively becoming unpaid tutors, and cross-subsidising the marks of international students.

Basically, the whole education industry has morphed into an immigration scam, with universities acting more like migration agents than educators.

Running low-quality degree factories was never in the national interest. It’s time for a royal commission into the whole corrupted, stinking edifice.

Unconventional Economist
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Comments

  1. ErmingtonPlumbingMEMBER

    Can a Royal commission call for the Guillotining of these university vice-chancellors.
    They sure do seem to deserve it.

  2. TailorTrashMEMBER

    Where’s the outrage Scomo showed to the CEO
    of Australia post . Well, Scomo where is it ?
    ……and where’s Albo …the champion of the workers .
    Silence on this whole “stinking edifice “ indeed

    • Australia post had no role to play in pumping big Australia. Serves no purpose to LNP and their donors and mates.

      • Ding ding ding. Can we throw this under the bus without consequence, and misdirect the public gaze for a few days until they and the MSM forget?

    • Arthur Schopenhauer

      Albo’s nowhere. Completely lost between private interests and public image.

      The whole of the Labor Party is a kow-tow to property developers, overseas interests and the wealthiest in Australia, just like the LNP.

      You’d be living in an alternate reality to think otherwise.

      • Is that a newly formed view? I thought you were a Labor fan!!!!

        The most efficient way to save our country is destroying the Labor party.

          • In my very broad world outside MB, everyone thinks like me. They all want a solution to selling off our country, lost opportunity for our kids, rapidly changing working conditions, congestion and massive immigration.

            At first when I put to them, it’s Labor’s fault, they struggle because it can’t be Labor’s fault….”Labor’s the workers party…Labor’s the party for Australia, and fairness”.

            Then it all dawns on them, and I even later hear them bagging Labor.

            Don’t be a clueless straggler. Understand the blinding obvious.

          • The blinding obvious?

            That under our current political system whoever replaces labor will continue to screw you over the same as labor, or if noone does then the libs will continue to screw you over exactly the same as they have been the last 20 years.
            Sounds like a great solution.

          • “will continue to screw you over the same as labor”

            We’re making progress in your understanding.

          • lol,
            if only we could make progress in yours…

            I’ll give you a hint. It’s right there in the quote.

          • I’ve been over this with you. It seems pointless but I’ll give it another try.

            Human nature 101. Take what I can.

            Put independents in parliament who will do what we collectively say, or they’re out.

            They’ll rort it because they’re humans, but they won’t defy us, or they lose the opportunity to rort.

            Pretty simple stuff, and given you acknowledge Labor are a disaster, we have nothing to lose.

            I’m entirely certain you have a vested interest. That’s no problem, I expect that; you’re a human.

          • It is neither Labor nor LNP, but the people who make the donations to both parties:

            https://www.macrobusiness.com.au/2021/01/weekend-reading-23-24-january-2021/#comment-4064708

            Both parties are now controlled by them, they don’t belong to the workers, they don’t belong to Australians – they belong to the people who donate to them, who fund the ‘think tanks’ that the Govts turn to in order to develop policy.

            The reason easily solved problems like affordable housing or lowering immigration become intractable problems never able to solved? It is because those at the top DON’T WANT THEM TO BE SOLVED.

            The people who fund our political parties see Australia as EZFKA and their Australian identity is several orders below their primary cultural or social identity.

            When you separate the management of the economy from the society that it is built upon and meant to serve, the inevitable result is that profit and gain is the only measuring stick by which all economic decisions are made, which benefits those with the most financial clout.

            It doesn’t bother them if Australian society and culture withers – check out their donations. They rip enough money out of our society to ensure that their cultural cliques remain well funded by their generous private donations.

            Welcome to the MultiCult Meritocracy of the EZFKA.

          • “They’ll rort it because they’re humans, but they won’t defy us, or they lose the opportunity to rort.”
            You seem to misunderstand how the rorting works totes. Being an independent in parliament leaves you with virtually no opportunity to rort anything. The lucrative rorts are post politics and provided by the parties to the loyal from their donors. You provide no opportunity for anyone to rort anything. This is why you are screwed and the big end of town gets what they want.

          • I played a game with myself of seeing how many ‘Dark Companies’ of Michael West’s I had to examine before I found the odd man out…. it was about 7 or so, and I didn’t even bother including the most obvious ones like Lowy or Trigg.

            Ramsay was the first real exception I came across – and look at the phucking sh!t storm that was created when a foundation promoting ‘Western Civilization’ was attempted to be set up in their name…. meanwhile we are getting a new Holocaust museum set up in Canberra – because you know, even though we fought against the Naz!s Australians as Caucasians share the guilt of Germans in the Holocaust and we need to be reminded of it.

            Edom and the Amaleks need to be destroyed, and we will be.

          • bjw678

            $9m, born poor, sitting MPs, tells me otherwise.

            Like I said, we have nothing to lose.

            If we do nothing, we lose everything.

            It’s a simple choice.

            Reveal your interests.

          • Stewie

            I pointed out what you revealed to a few mates. They’re in disbelief.

            How has this happened to our country!!!!!!!

          • “If we do nothing, we lose everything.

            It’s a simple choice.

            Reveal your interests.”

            If what you does makes no difference, then you’d be better off doing nothing instead of wasting others effort on useless endeavours. It prevents them from doing something that could result in change.
            I’ve made my interests clear many times you are just not interested in listening, I want to see the unrepresentative, undemocratic, Westminster elective dictatorship system of government replaced by something truly democratic. People interested in change wasting their efforts trying to work within the system is what has made it so successful at continuing to represent the interests of the wealthy 100’s of years later.
            The https://en.wikipedia.org/wiki/House_of_Lords should tell you all you need to know of the intentions of the creators of westminster government. Does it sound democratic to you?

          • bjw678

            Heard it all before, and I’ve said to you it can’t be done without a referendum.

            You think the very politicians you blame are taking that to a referendum?

            FFS.

          • The ability to rule is only provided by the consent of those ruled.
            Your belief that you can change it from within, is what enslaves you.
            Fundamental social change like you are seeking is unlikely to come easy, and won’t come from somehow getting more independents into parliament than there have been in the entire history of australian government, so good luck with that by the way.

          • “Fundamental social change like you are seeking is unlikely to come easy, and won’t come from somehow getting more independents into parliament than there have been in the entire history of australian government”

            Im not one to say “this time is different”, but this time is different. We are losing everything soon.

            In the land of plenty, no one’s going to riot until it’s too late. In fact it’s probably Labor’s role to ensure we get enough trinkets so we don’t.

            It is getting serious, the smart people among us know it. It’s time to act on behalf of the idiots. That is, it’s easier to get them to vote against Labor than it is to get them to riot.

            You’ve lost perspective IMO.

          • lol. Pretty fking good.

            I take personal credit for at least some of the embarrassing loss they suffered. What a joke they are.

          • lolz,
            only need to do about 10,000x better to have any actual effect though.
            And the libs are still screwing the country over, so I wouldn’t be cheering yourself on too much.

          • “olz,…only need to do about 10,000x better to have any actual effect though”

            Incorrect. A handful more, all on the same page, and it’s over for big Australia.

            You don’t seem to have a clue what you’re talking about.

          • “You don’t seem to have a clue what you’re talking about.”
            Funny, i seem to have that very thought a lot when you are around.

        • Display NameMEMBER

          And destroy the LNP. They are an even more corrupt toxic bunch of goons. Zero interest in the average tax payer and none in the country if it gets in the way of a donor subsidy.

          • Sure, if you can. Typically LNP voters know exactly what they’re voting for.

            Delusional Labor voters think a Labor government would make a difference.

          • “Delusional Labor voters think a Labor government would make a difference.”
            Maybe stop projecting your past inadequacies.

  3. I experienced this back in 2000, except I was the student.

    A lot of these international students didnt think fondly of Aussies. I was just a little bloke amongst all these international students. They looked upon Aussies with disdain. Despite being nice and polite to everyone I met, I was just the stupid Aussie. It had its benefits in keeping me focused on my studies. There wasnt must socialising that could be done. You walked in and walked out of your Lectures, that was about it.

    Aussies tend to be a very happy bunch. We’re pretty friendly at the best of times. These foreigners tend to be highly competitive, bitter, opportunistic and look upon Aussies with disgust. They didnt seem to respect the system. They had no respect for it at all. They just seemed to want to rort the system. In fact, the more they rorted it, the more clever they thought they where.

    Admittedly, I benefitted greatly from the experience. I ended up getting paid to do peoples assignments for them and tuition. One guy was too busy doing other things that he’d just drop around my house, drop his assignments in my mail with cash and I’d do them for him. I got a visit from his Foreign Dad once. Some kind of prince who ran a Foreign Oil Company. The guy looked more like Mafia then a Father. I thought I was in a lot of trouble. ” So your the guy helping my son with his studies? “. He invited me for a traditional dinner in his home to thank me. I thought it was a little odd that Im living in the middle of Australia and here Im being treated like a foreign dignitary. His son was more interested in screwing woman then devoting time to his studys.

    I find Unconvential Economists views to be somewhat refreshing. It explains a lot of things. I can say its happening in Brisbane too.

    The other thing I noticed is University Degrees started to drip feed knowledge. They wanted to entice you to continue through the courses. This forced you to go on and do MBA’s, second degrees and just keep paying more money. There was some cutting edge stuff happening at the time but the Universities kept it close to there chest, drip fed the knowledge and you had to pay them large sums of money in extended courses if they where going to give you access to it. The courses became commercial and thats one of the reasons I never went back to Uni. They where less about ‘Setting you up for Employment’ but more about ‘Drip feeding knowledge so you’d pay for the next course’.

    In the end, my mate ( who was a foreigner ) ended up with a better job then me. Why? Because he went overseas to learn and brought back specialised knowledge you couldnt get in Australia. I wont lie, that infuriated me greatly and made me just want to quit the industry I was in. He was on $1000 per day and worked in Melbourne. Last time I saw him, he was bragging about the large house he owned while I couldnt even get a house. He also suggested how stupid Australians are ( including me ) and that he had his house while I didnt. All Aussies are dumb and he was far superior to us all. I didnt have overseas connections.

      • Arthur Schopenhauer

        Corrupt or clever? The emphasis determines what sort of society a country produces.

        And before you say it Reus, Margaret Thatcher was wrong, there is such a thing as society. Always has been, always will be.

    • Good job of cashing in, as a true Strayan should, with a foreign dignitary experience to add.

      Also great to know that our unis are mastering the art of profit maximization – after all, they have to keep up with the changing times – no doubt they were inspired by the drip feeding of residential land supplies by the local governments. Reusa must be proud!! You should, too.

    • We are feeding our kids to the sharks.

      It’s time for it to stop, and pushing the current uni heads out, and employing genuine nerds on $200k is the start.

    • . His son was more interested in screwing woman then devoting time to his studys.”

      ++ 100% Bloke. This guy sounds more Aussie than you.

    • Baltic BalzamMEMBER

      I remember lending an international student an assignment on my personal professional development and career path and long term career
      objectives – part of some useless compulsory subject Professional Development. He was distraught as his English was poor.
      I thought what the hell, it was essentially my background and career aspirations and it’s not like he will copy it. The idiot copied it verbatim! I was called into a chancellor’s office at some point and I had to prove that it was my work and to provide reasons for lending my assignment to him.
      I learnt a lesson, never to underestimate the stupidity of humans.
      Another instance in a group assignment, a team member (international student) handed me her assignment the day before it was due and had evidently translated via Google Translate. I had to rewrite her whole bloody assignment. A day in the life of group assignments circa 2011.

  4. Students really get shafted, can’t even avoid the uni system because God forbid a business trains you up rather than hiring someone from the subcontinent.

    • working class hamMEMBER

      The problem with that is, some twenty something with a toilet paper degree and no actual experience will be getting paid twice as much as you, while you teach them how to do the job.

  5. I think it was around 2005 onwards when I realised working for a living wasnt paying the rent. Rents kept going up and my wage was in one hand and out the other.

    I tossed my career, bought a property with a shack on it, threw it all away and moved to live in the shack. Since then, I’ve built up a fairly independent life for myself.

    At the time, I remember being a little scared by this decision. I was thinking to myself, ” Im about to toss my career. Is this really a smart move? “. As it happens, for the past 15 years, house prices have continued to rise to astronomical levels, the systems only gotten worse and marriage/divorce rates are just astronomical. I have doubts Male Suicide rates are being accurately reported in Australia. 14 of my mates are dead and all the people I’ve asked living in Australia have also said they have had these experiences as well. I see the data. I understand the data but the social circumstances Im seeing in this Country just dont fully jolt to the experiences I see in the social communitys. The two dont seem to connect.

    I grow my own food now. I brew my own Beer. I have wonderful Fauna and Wildlife. I think Im in a far better position now then most Australians. Things are just too unstable. We just got hit with Covid. I could pretty much live on my property for a year, without social contact and just eating the food I grow myself. Im disaster proof and whats more is I dont have to give a toss about anyone. I enjoy surfing with the boys. I go out with the boys for a paddle now and again. I seem to get on really well with mates then I do woman.

    Most marriages in Australia I’ve seen dont last. A recent mate of mine got married, had a stable job and a house he was paying off. From the outset, it was the picture perfect scenario of bliss. What could possibly go wrong? One night they had an argument, he attempted suicide by using petrol, the house was burnt to a crisp and they airlifted his burnt body to hospital. Despite weeks of induced coma, skin grafts and around the clock medical care, he survived. She and all her friends have been hunting his ass for half the house and everything she can get ever since. She was trying to setup court cases while the guy was lying in a coma.

    I have a prediction for the next 18 years. Boomers are all going to die. There is going to be lots of young male suicide. Australias Economy is going to collapse as we see 1/3rd of Australias Population shrink with all this death we are about to see. Death is going to be everywhere. Old Aged Death and Young Death. Marriages and Divorce Rates are going to be horrendous. Maybe Liberals might win and we will see more Corruption in Australia. Maybe Labor might win the next election and we’ll see Feminism screamed from roof tops. Either way, Marriage and Divorce rates are going to be terrible. Im expecting Male suicide rates to go through the roof.

    Men need Mates. Mates are loyal. They are always there for you. They look after each other. I try not to be sexist but given all I’ve seen and the Laws we have in this Country, men are royally being screwed. Marriage is just a scam for Woman to steal mens money and assets. Men are better off on there own and better when they have Mates. Better to stay single and have mates then ever get married.

    The objective of any Man in this world is to live a Happy Life. He shouldnt have to be made to feel sorry for that… especially if he was a born Australian. There is so much stress in this country that Aussie Men constantly feel like they owe something. We constantly owe somebody and everything we own is just a privilege. Its all complete crap. Its the sign of a broken system.

    As a bit of loner, I have to admit, I’ve taken great solice in my own personal journey. Im a thinker and I think for myself. I’ve learnt a great deal from the people at MB and William of Sustainable Australia Party. While Australia goes into this Social Calamity, I’ve got veggies in my garden, soup/pizza on the table, a roof over my head and some wonderful wildlife that I feed regularly. I can also stay home for a year, not catch Covid and I dont have the stresses I used to.

    Personally, I think Australias dying. I have an image of what I think future Australia is going to look like and it aint pretty. I think a lot of people are going to die. I think it’ll be the idiots like me who are living in the bush that are going to survive. The only thing I dont have yet, is a gun.

    I think when Migration stops producing benefit for Australia we are going to see a huge Feminist push. Australias a Corrupt, Capitalist Country looking for the next things to Exploit. If we cant Print Money or Exploit Migrants, then our next move will be to Exploit woman. Make them work to fund all these Taxes. I’ve noticed womans energy levels collapse after the age of 40. I highly suspect marriage breakdowns will only lead to men pulling out of the workforce. I dont see feminism working but Im pretty sure this Countrys going to try anyway.

    I’ve been watching all these interstate migrants pouring into Queensland from horrible states like New South Wales. A while ago, I said, ” Queensland will be under attack soon “. I’ve been wondering how many of these are Chinese and/or people looking to profit and exploit. The kind of people looking to destroy, ” The Aussie way of Life “.

    Queensland and Western Australia seeing huge ramp up in Migrants. I look forward to these states being attacked and ending up the political shitholes of Sydney and Melbourne. It feels to me as if Australias dying and this stampede is just the early stages of Australias Death.

    These interstate movements will be influencing future elections. I’ll be very interested to see who has just inherited all that power. Call me suspicious, but I think Qld and WA are now under attack. When those states go, the rest of Australia will fall.

    • Fishing72MEMBER

      I think you need to meet one of the billions of nice women in the world and / or seek professional mental health assistance ASAP.

      I hope you sort things out but I’m also very , very glad you don’t have a gun.

      • “very , very glad you don’t have a gun.”
        Care to elaborate on why? Plenty of other things readily available can be quite lethal as well.

        Edit: I also suspect you may be living at the opposite end of the income spectrum, where the world looks quite a bit different than at the bottom. Spend a few years living somewhere affordable to someone on median or below wages and then get back to us.

        • “Spend a few years living somewhere affordable to someone on median or below wages”

          Only a visionless fool would do that. I’d take yours.

          Don’t be surprised as Australia’s poverty increases so does violent crime.

          You did this.

          • But I’m serious.

            You think I’d watch my kids starve while Lisa Wilkinson earns a million dollars a year?

            It’s time the people pushing this BS know there’s a very big price, and they’ll be paying it like the rest of us too.

          • Short of violence, how are you planning on doing any of that?
            You are just an angry old man who talks tough, but in reality is crippled with shame he was fooled for so long by the powers that be. Overcompensating won’t change it.

          • “Short of violence, how are you planning on doing any of that?”

            It won’t be me, and it won’t be short of violence.

            “You are just an angry old man who talks tough”

            I’m an angry old tough man, who would have jumped into the game decades ago if i had to.

            “shame he was fooled for so long by the powers that be. Overcompensating won’t change it”

            I was never fooled. I live in the land of plenty, and I’ve got plenty.

    • Display NameMEMBER

      I sympathise with your point of view. I am a tail end boomer and being in IT have been somewhat insulated from the worst excesses of our corrupt lazy politicians. Having said that my industry has been subject to constant technical change as well as bombardment with O/S “skilled” migrants in an attempt to push wages down.

      It is said you get the politicians you deserve, and I suspect after such a massive migration program over a few decades, there are almost no shared values now, and as such corruption, which is rampant in many of the migrant source populations is now an Australian “value”. We now have without question the most corrupt group of politicians I can remember. And a good cohort that are clearly not even intellectually up to the job. Unable to string a sentence together without using clichés or changing the subject. Not across their portfolios and in some instances hopelessly conflicted in business dealings and just do not care.

      This outcome is not good for the country. We are becoming the expensive, mostly white trash of Asia. Soon to become the cheap white trash.

    • Reasonably typical of today’s male who sees what’s actually happening.

      Ignore the negative comments Mathias.

      Don’t forget we’re not here for long, we must enjoy our lives, and any fight is for future Australians. The movement of individuals isn’t contrived, that’s just humans being humans looking for opportunity. None of this is likely to happen for many decades, but i agree with you, it absolutely will happen.

      Making women far more equal than men, and making men so painfully soft will destroy us. It is no accident.

    • I say the solutions are;

      1. Start a rolling narrative that elites (beyond $2m) are to be taxed WAY WAY WAY more to fund infrastructure, Medicare, welfare, congestion, and everything else of a big Australia. No more trusts. No hiding money. Call Labor out on their disgraceful hypocrisy.

      2. Destroy the Labor party.

      3. End horrendous gender (anti male) inequality, and extreme wokeness by boycotting (and defunding) Fairfax, ABC, the Project, Greens, Labor).

    • reusachtigeMEMBER

      I’ve heard about people like you, those that have given up the will to be successful and have lost their drive for profits, but I never thought such people could possibly be real !!

    • “”Most marriages in Australia I’ve seen dont last. A recent mate of mine got married, had a stable job and a house he was paying off. From the outset, it was the picture perfect scenario of bliss. What could possibly go wrong? One night they had an argument, he attempted suicide by using petrol, the house was burnt to a crisp and they airlifted his burnt body to hospital. Despite weeks of induced coma, skin grafts and around the clock medical care, he survived. She and all her friends have been hunting his ass for half the house and everything she can get ever since. She was trying to setup court cases while the guy was lying in a coma.””

      This is why MGTOW (Google it and find out for yourself) has become a thing and continues to gain traction in the male population. The unfortunate reality is that Australian women are quite possibly the most widely enabled, entitled, demanding, solipsistic bunch of nanny state, social safety net, feminist parasites on the planet.
      Women can detonate their marriage on whim and cash in on prizes awarded by the Family Court.

      Only a fool would get married nowadays and even prenups/binding financial agreements can be overturned.

  6. working class hamMEMBER

    I feel for the actual educators, maybe Covid will inadvertently help the Uni system.

  7. Arthur Schopenhauer

    I did a post-grad STEM course in the early 2000s. It was 90% overseas students. The assignments were hard, and I rarely exceeded 70%, yet most of the class exceeded 95%. Clearly, I was just another idiot Aussie.

    At the time, the university hadn’t figured out how to eliminate exams. There were still exams that counted for 60% of the overall mark. You had to pass the exam to pass the course. A legacy of the old, rigorous Australian University system.

    So the exams come and they are mind-numbingly easy. If you had done the assignments you could easily hit 90% to 100%. What do you know, 70% of the class failed the exams. At that point it dawned on me that the majority of the class were ‘outsourcing’ their assignments.

    The department lowered exam pass requirement to 35%. It was disgusting, and not something that would have happened in my first degree. ( Only 20% of the first year intake graduated from my first degree.)

    Not only are we destroying the future of our young people by lowering education standards in Australian Universities, we are tacitly saying it’s ok to be corrupt, deceitful and dishonest in Australia to every immigrant that arrives through the education visa route. Officialdom will turn a blind eye.

    Talk about a fish rotting from the head.

    • RobotSenseiMEMBER

      All undergraduate courses should go back to the 60% of marks in the final (and needing to pass to pass overall) rule. Being able to pass an exam is directly correlated with hours spent doing the course. Passing one of those tests is not difficult with even the low bar of watching every lecture (I’d say “turning up” but nobody does that anymore).

    • The corruption at our universities and their corrupt international students can be entirely eliminated by removing work entitlements and residency pathways from international students.

  8. “saying the disparity between their pay and that of their staff who were in insecure work represented a failure of leadership in the sector…”
    So are the pollies looking to apply this reasoning to pollies salaries?

    And give calling for RC’s a break. Didn’t the banking one teach you anything? It is purely an exercise in looking like doing something while not actually doing much.
    Everyone knows what needs to be done, much like banking, so just go and do it. OR don’t. But don’t waste everyone’s time with an RC.

  9. Let me ask a somewhat silly question
    How many of our Australian “Human Capital” based industries are growing, and by that I mean growing in a healthy way with an expanding external “export” revenue base?
    I can count on one hand the number of Australian knowledge based businesses that are thriving today.
    Our universities are growing, they’re growing from a revenue perspective, they’re growing from a student numbers perspective and they’re growing from a global systemic importance perspective.
    That’s a hard act to follow.
    I know of some very profitable Australian knowledge based businesses but they’re small and have hardly any growth (most are shrinking)
    I know of some growing Australian Knowledge based businesses but they struggle to remain profitable.
    I know of a few Australian knowledge based businesses that are systemically important in the global economy but they’re they struggle to find growth and remain profitable.
    Trust me it is a rare feat to remain profitable, exhibit double digit growth while improving in global status.
    Maybe the managers of these businesses deserve the salaries that they receive.
    Anyway its just a thought, the musings of an old man… but don’t let my musings distract you, after all there are stones to be thrown and witches to be burnt.

    • “but don’t let my musings distract you”

      No I won’t because you’re either a liar or a fool.

      Anyone talking growth has skin in the game, or is a fool.

      • Well I’ve got no skin in the game so I guess you nailed it with the fool category
        Hey but last week I was only a useful idiot, is fool a step up or down?

        • Wasnt me that said it.

          So we’ve established your comment is sht?

          No skin in the game, pro growth? “Fool” is very generous.

          • You won’t even give me one or 2 vetted independents from the last election, yet call me a liar for pointing out the impracticality of your ideas.
            You are the very definition of no skin in the game totes. And hypocrisy.

          • “You won’t even give me one or 2 vetted independents from the last election,”

            What are you talking about? No such system exists yet.

            BTW, I’ve got plenty of skin in the game, and would lose big with cuts to immigration, and yet I fight the elites as I have all my life.

          • So we’ve established your comment is sht?
            I guess my comments are a bit like your command of the English language

          • And well above his logical and reasoning abilities.

            “What are you talking about? No such system exists yet.”
            No such system will ever exist totes. That is the point.

    • Well, of course, the number one priority for the businesses these days is to become too big to fail as quickly as possible by growing aggressively – then the gubbermint will take care of you when something goes wrong.

      As I stated above, our unis are mastering the art of profit maximization.

    • It is relatively easy to mine an established brand for increased profits, at least in the short term. The problem is over time the brand’s value gets destroyed. For an example see the number of specialised tool companies that have been bought over the last decade or 2 that now sell everything, all made in the same chinese factories. Those brands were once respected as the best available but are now becoming just another so-so chinese brand. Dewalt, makita, hilti, and probably others.
      Or maybe you’d prefer hifi as an example. All the 70’s brands that dissapeared have reappeared to be mined for whatever cred they had left.
      Sooner or later the brand of our universities will be similarly trashed, if it hasn’t already.

      • It depends on what you imagine our Universities “real” value to be.
        There are two facts that stand out, at least in my mind,
        Fact one The top 10 % of Australian university graduates are exceptionally talented and still receive a very good education.
        Fact two: The bottom 25% (or maybe 50%) of Australian universities students don’t belong in the student body of any respectable university.
        If I’m running the university, should I be focused on fact one or fact two?
        What happens if my ability to achieve fact one is enabled by fact two?
        Is my brand trashed because 90% of my output is second rate or does the market simply adjust and take only the top 10% leaving the rest to figure out for themselves that they just got F’ed by the education industry.

        • See, this is why you aren’t getting the big bucks running a university. Neither fact 1 or fact 2 is of any relevance to the tenure.
          How can we maximize revenue for the next few years? is the only question that needs to be asked or answered.
          If you want this to not be so, then universities need to be “unprivatized”.

          • Jumping jack flash

            “If you want this to not be so, then universities need to be “unprivatized”.”

            THIS

            There’s no use banging on about how universities are trash when they need to be trashed in order to survive and appease the “shareholders”.

        • The jig is up everyone knows the uni’s are sausage factory’s for Imagration you can hear squealing from here wheres my wet backs wheres my bonus its deafening may I have some cake please kind sir lolololol

          • I sympathize with your position but maybe you need to ask yourself this question
            What expectations do the majority of average Aussies have when it comes to assessing our Universities
            Do they want academic excellence?
            Or do the want to stand up proud and announce to the world that their son, daughter, nephew … just got a degree?
            I’ve only met a few of the former and thousands of the latter.
            So while it sux that our Gourmet store has become a Sausage factory, sausages do seem to be what the average punter wants, so the new model is to produce 90% sausages and 10% of the gourmet stuff.
            Fortunately, to date, the Gourmet clients have been able to keep the two product lines separate, that said I must admit that many of the sausage clients are confused and do wonder about our insistence at maintaining (and even financially supporting) the Gourmet product line.

  10. Don’t forget, once they step down from their VC position, they’ll set themselves up in a plum academic position, on the highest pay-band, so they can continue to rort until they decide they want to retire, why dip into your super!. That’s what the ex’s father did, toss he is.

  11. Jumping jack flash

    “Australia’s university system has become commercialised and centred on maximising revenue and fatting administrator pay packets over teaching quality.”

    Oh, so it has been transformed by Thatcherism, then? That worked well. Im sure the government saved a few dollars at the expense of everything else. Lucky we have so much to show for it too.

    Chancellors are people too, and people need debt. Mountains of it. Colossal piles of it. Oceans of debt so large that no person should ever need to take it on, but they must. There is no other choice. Savings and income alone cannot cut it any more in almost every case.

    Wage theft is just one instrument of the New Economy that must be used when debt inflation isn’t high enough to feed back into wage inflation proper.

    Wage theft is a last-ditch self-destructive play that has to be implemented if those who expect to be able to become eligible for the amounts of debt they need to afford the lifestyles they expect dont have the “wage inflation” that is required, and cant raise prices enough otherwise nobody would buy what they’re selling.

    If you understand the basic principle of the New Economy then you’ll realise that debt hyperinflation is the end game. Our banker masters are slowly getting everything into the correct alignment to let it rip.

    Covid stimulus was just the start. It was a good start. Maybe it will be enough, and we will know shortly.

    • COVID is a godsend that provides a perfect pretext for the massive debasement of the fiat currencies…. or was it by design?

      I mean, the investigations as to the origin of COVID were conveniently obscured by the public spat between Trump and Xi.

      • Jumping jack flash

        it is an amazing coincidence, and couldn’t have happened at a better time in my opinion.
        The economic shenanigans they need to implement to wring out a few extra months from their system are bordering on insanity at this point. There is only one real solution.

    • ” Savings and income alone cannot cut it any more in almost every case.”
      If savings and income can’t cut it on $1,000,000 a year, you need a serious attitude adjustment.

      • Jumping jack flash

        the more you earn, the more you spend.
        $1m may seem like a lot to plebs like us, well, like me, I don’t know what your situation is, but to a VC it is probably just absorbed into the general scheme of things and their lifestyle expectations just increase.

        In any case, debt is absolutely required.

        • They will implement a 1 world digital currency for all trade between nation’s everyone keeps their currency must buy the 1 world digital currency to trade

          • Jumping jack flash

            Not so sure about that.
            They would need to pry the rights to sell oil in this new currency from the cold, dead fingers of the US..

            Then again, Biden is possibly doing their work for them.

  12. Ailart SuaMEMBER

    The greedier a person is, the easier that person is to manipulate – and dare I say it, bribe. In this case, university vice-chancellors kowtowing to politicians and their cash-cow donors. When someone is being paid a large salary, they get used to the lifestyle and don’t want to let go of it. IMO, it’s pretty obvious why, some time ago, public service heads had their salaries quadrupled, virtually overnight. Logically, how can a public servant be paid more than a prime minister?

    The disgrace, is that our learning institutions and our vital water supply have been turned into tradable commodities – at the bequest of the elite donor mob. A plus for them, but a huge negative for Australia and the majority of its citizens.