Crackdown on university fat cats selling junk degrees

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Last week, the National Tertiary Education Union (NTEU) published an analysis showing that more than 300 Australian university executives earn more than state premiers amid widespread wage theft among lower-level staff.

University executive pay

NTEU national president Alison Barnes said the report reflected a “deep governance crisis” threatening universities and pointed to the need for an urgent federal parliamentary inquiry.

The analysis showed that half of the persons on university governing boards were from the Big Four accounting firms and business groups, with some councils having more executives from banking or mining than current academic practitioners.

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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.