With the University of Sydney in the headlines again, a study has revealed the average salary of full-time students is around $130,000.
United’s new $4.6 billion new campus at the former Melbourne Institute of Technology is just the latest example of how university students are taking on a greater role in the workforce.
The report, conducted by the Australian Institute of Education (AIE) shows full-timers earn an average of $134,000 on average.
United University, one of the most elite universities in the world, offers $100,000 in scholarships to full-timer students.
However, only 5 per cent of those students actually achieve full-tournament results.
Universities across the country have been investing in higher education, with more than $10 billion being spent on student scholarships in 2017.
But the study found full-term students earn an extra $4,852 a year on average compared to those who are on a full-ride scholarship.
University of Sydney students make up the largest group of students to be on a scholarship.
The average full-year student earns $135,000 a year.
Photo: James Brickwood United’s students on a new campus in Melbourne’s west have been taking on an increasingly larger role in society.
In 2018, full- time students earned $131,000 and full-tuition students earned an average $118,000, according to the AIE.
The average full time student at United earns $132,000 but the average full year student at the University has earned $134 for full-twos.
The university’s median annual salary is $132.50.
UNSW’s new full-day rate of $9,900 is the second highest in Australia after the University and provides $20,000 more than a year’s tuition.
The median full-teacher salary is also up from $12,800 to $13,400.
Australia’s leading universities are increasingly investing in full-hour work for students, with the A$5.2 billion University of Technology, $4 billion Melbourne Institute and $3.8 billion Australian National University all making significant investment in higher learning.
The A$1.9 billion Sydney University is also investing in new full time classrooms.
“The average university student makes more than many people earn in a year, and the median salary of the full-service teaching workforce in Australia is $140,000,” Professor Paul Elam, of the University’s Centre for Human Resource Management, said.
“The University is in a unique position to be a leader in the industry and the opportunity to be part of a global economy.”
The United University campus in the old Melbourne Institute, pictured.
Source: Supplied Professor Elam said the Aussie dollar was one of Australia’s most important export currencies, so attracting top talent from overseas was important.
“In addition to the fact that we are the world’s largest university and the world capital for tertiary education, we are also a global financial hub, and we are one of only two universities that provide free tertiary tuition,” he said.
Professor Paul Eham, University of Melbourne, on why he thought students were taking on more of a role in Australia’s workforce.
When the Aussies were in the middle of a recession, the United States was a big player in the global economy.
But the United Kingdom has seen a massive drop in its tourism and the rest of the world has been experiencing the most economic turmoil since the 2008 global financial crisis.
Many people are now moving back home to find work.
Students have been the key to helping the economy recover.
Professor Elam’s advice to the university is to ensure it stays in its current mode.
He said it was vital that full-priced students at United were able to afford to do so.
United’s full-week rates for full time students are set at $9.900.