NZ Universities Report: Funding
A new report, prepared by accountancy firm Deloitte, on university staff and resourcing, commissioned by the Association of University Staff (AUS) and the NZ Vice-Chancellors' Committee (NZVCC) has been released. Some of the main findings include:
- NZ academic salaries are consistently lower than academic salaries in Australia, Canada and the United States.
- University contributions to staff superannuation are between two and two-and-a-half times higher in Australia, the United States, England and Canada than in NZ.
- Government assistance to NZ Universities makes up 38 percent of the universities' total income compared with the 46 percent in comparable Australian universities.
- Thirty-one percent of the funding to NZ universities comes from student fees and charges, compared with 19 percent for comparable Australian universities. Student fees in NZ are, however, generally lower than in Australia.
- Globally, academic retirements associated with a demographic bubble, combined with expanding numbers of students, will create a shortage of academics.
- This increased demand for academic staff will lead to competition between domestic and international universities for staff. Countries like NZ and England will face increasing pressure to provide salary and benefits that are competitive globally.
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