At the same time, we hear students say all the time they need to upskill quickly, or risk being left behind. Over the past 15 years, I have worked closely with these students and Australian university leaders in postgraduate education. I know both sides well.

Today’s potential postgraduate students are time-poor. ABS data shows the number of hours Australian professionals work each month has increased by more than 20 per cent since 2014.

Also, students have high expectations of the online experience. But, as we often say to our university partners, students aren’t comparing their online education experience with their face-to-face one. They are comparing it with every digital experience in their life.

Education is Australia’s fourth-largest export and we have an incredible opportunity to continue to take Australian education to the world, rather than expecting students to come here. Over the decades, we have built a world-renowned reputation for offering premium education. The demand is there; we just need to deliver it seamlessly. We need to meet demand with next-generation online learning experiences.

So, it’s disappointing the current online experience for a postgraduate student can be underwhelming. It’s vast, confusing, difficult to apply for and to buy. It’s also littered with jargon – I question whether many people know what a micro-credential is. We have some way to go to meet the rapidly evolving expectations of our online audience.

To win the currently underserved Australian and international post-graduate markets, universities need to roll out intuitive, user-first online experiences that are designed with time-poor, 30-something professionals in mind.

Students want a hybrid learning experience to match their busy lives, with engagement and feedback online, 24/7. They want links to industry and a real return on an investment that can be up to $45,000. They want evidence this will lead to a better career or salary.

Universities could also consider meeting the growing demand for online and hybrid – partly online, partly on campus – programs from potential students working in Asia who need to upskill. This requires a change in mindset to take Australian education to the world, rather than expecting students to come here.

For this strategy to be successful, the cost of courses must match the local market, and universities will need to ensure they are able to compete with other international institutions operating in the market.

With a shrinking revenue base, the onus is on the university sector to better understand our audience and make it easy for them to access further education. Let’s test new models and embrace a spirit of innovation and connect to a new market of engaged, adult learners here and overseas to replace lost revenue from overseas undergraduate students.

To remain competitive and to thrive, the Australian workforce must constantly grow with new skills that push people into new roles and businesses to new heights. What’s more, when our universities have a strong revenue base, they can continue to fund critical research, benefitting our communities and businesses. Where life-long learning is embraced, social and economic success follows.

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