Searchable list: Victoria’s richest and poorest schools for 2024 revealed
Victoria’s wealthiest schools have state-of-the-art facilities and billion-dollar grounds, while their counterparts are struggling to get basic upgrades. Search our list to find out how your local school fares.
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The state’s wealthiest schools have state-of-the-art sporting and learning facilities and billion-dollar historic grounds, while some of Victoria’s poorest schools are struggling to get basic upgrades and additional funding.
Haileybury College in Keysborough has once again been crowned as Victoria’s richest school, with a combined five-year income of $722m – $45,000 more than the previous five-year period.
The co-ed private school, where 4689 students are currently enrolled, received a funding increase of 27 per cent over the last five years, and earned a total gross income of $36,457 per student in 2022.
Parents currently pay between $21,345 and $37,900 in school fees to send their child to Haileybury, depending on their year level.
The latest national data obtained by the Herald Sun shows the top 20 richest schools – all private – have a combined five-year gross income of $7.5b. This compares to $280m for the bottom 100 schools, most of which are state schools.
It takes about 800 of the bottom-earning schools to have the same income as the top 20 wealthiest.
The data is based on the gross income each school has earned over five years, from 2018-2022, and the latest data (2022) on income per student.
It shows Wesley College also held its place as the second highest earning school, and earned $608m in the five-year period – a funding increase of 5.78 per cent.
The independent school offers numerous co-curricular activities in addition to boarding facilities and experiential learning, with fees ranging from $26,743 to $40,053 annually.
Caulfield Grammar School, Carey Baptist Grammar School and Ivanhoe Grammar School all followed suit and held the same positions as previous years as third, fourth and fifth richest schools in the state.
In comparison, public schools located in the state’s regional and rural towns were the lowest-funded schools, primarily due to their location and small enrolment numbers.
Perseverance Primary School on the Bass Coast, where just six students are currently enrolled, earned a five-year income of $504,787, a funding increase of 50 per cent compared to the previous period.
Yandoit Primary School in Ballarat and Winton Primary School in the Goulburn Valley also received a five-year income under $1m.
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Learning Co-operative Primary School in Cottles Bridge, where 28 students attend, was the lowest funded non-government school and earned a five-year income of $2.4m.
Parents pay $360 a term for their child to attend the school, which is situated on 17 acres of bushland and offers students a “holistic, individual education”.
Trevor Cobbold from state school lobby group Save Our Schools said the data “demonstrate the huge resource advantage of wealthy private schools while public schools go begging”.
“Private schools in Victoria are over-funded by the Commonwealth and Victorian Governments while public schools are massively underfunded,” he said.
“Government funding for wealthy independent schools together with their high fees provides them a huge resource advantage over public schools. The government funding enables them to use more of their fee income to fund lavish facilities.”
Top Ten Richest Schools
Haileybury College
Five-year income: $722,927,840
Percentage change: 26.84 per cent
Wesley College
Five-year income: $608,985,081
Percentage change: 5.78 per cent
Caulfield Grammar School
Five-year income: $602,808,319
Percentage change: 14.81 per cent
Carey Baptist Grammar School
Five-year income: $431,762,007
Percentage change: 17.62 per cent
Ivanhoe Grammar School
Five-year income: $394,973,020
Percentage change: -2.52 per cent
Methodist Ladies’ College
Five-year income: $379,911,783
Percentage change: 11.19 per cent
Melbourne Grammar School
Five-year income: $356,125,974
Percentage change: 6.66 per cent
Xavier College
Five-year income: $348,486,231
Percentage change: 2.89 per cent
Scotch College
Five-year income: $340,504,160
Percentage change: 8.15 per cent
Penleigh & Essendon Grammar School
Five-year income: $340,354,124
Percentage change: 19.85 per cent
Top ten lowest-earning schools
Perseverance Primary School
Five-year income: $504,787
Percentage change: 50.11 per cent
Yandoit Primary School
Five-year income: $718,678
Percentage change: 101.45 per cent
Winton Primary School
Five-year income: $830,408
Percentage change: – 66.19 per cent
Glen Park Primary School
Five-year income: $1,615,548
Percentage change: 106.08 per cent
Kongwak Primary School
Five-year income: $1,632,825
Percentage change: 24.96 per cent
Zeerust Primary School
Five-year income: $1,868,820
Percentage change: 23.25 per cent
Dhurringile Primary School
Five-year income: $1,872,635
Percentage change: 24.85 per cent
Currawa Primary School
Five-year income: $1,960,611
Percentage change: 37.26 per cent
Marnoo Primary School
Five-year income: $1,974,122
Percentage change: 97.77 per cent
Natte Yallock Primary School
Five-year income: $2,002,037
Percentage change: 46.36 per cent
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