Nearly half of Sydney Uni’s students come from overseas

The University of Sydney is edging closer to becoming a majority foreign student university as its latest figures revealed 46 per cent of enrolments are from overseas.

The institution was the only NSW university to record a surplus in 2023, annual reports tabled in NSW parliament on Monday reveal, improving its bottom line from last year.

Sydney University vice chancellor Mark Scott.Credit: Louie Douvis

It also disclosed it had underpaid casual academics up to $70 million, up from the previous estimate of $15 million.

The country’s oldest university recorded a $353 million surplus, up on its 2022 figure of $302 million but well down from its record $1 billion surplus in 2021.

The university’s 17 per cent increase in revenue – or half a billion dollars – from 2022 was in part attributed to increased investment performance and in the fees and volume of international students.

Foreign students account for 46 per cent of the University of Sydney’s student body and provide 78 per cent of its student revenue. Among the postgraduate cohort, 43 per cent of students are domestic.

The institution is Australia’s largest educator of international students with 31,429 enrolled in 2023, up 3.6 per cent the year prior and 41 per cent since 2018.

It was the only NSW university to record a surplus for the second year in a row and one of only a few to improve on 2022’s figure.

The University of NSW improved its bottom line, partially driven by a 16 per cent increase in international student numbers, while domestic enrolments remained relatively steady. Its international study body makes up 39 per cent of its enrolments.

Western Sydney University recorded the largest deficit, $148 million in the red. It recorded a drop in domestic students but an increase in international enrolments.

Sydney University vice chancellor Mark Scott said the result was strong given the rough financial environment, and its future fund would support staff and students.

“This is largely thanks to strong investment returns, as well as the generosity of our donors and our international students continuing to want to study with us,” he said.

Scott said last week that the university was looking to slow its international student growth over the next decade after the federal government announced plans to cap university enrolments.

“Well before any of these discussions, our senate has been looking carefully at the total number of international students, the mix of international students, the degrees they are seeking to get,” he said.

He said the university’s underlying loss of $9.4 million – when funds that cannot be freely used to cover day-to-day operating costs are taken into account – compared to a surplus of $216.6 million in 2022.

The annual report also revealed the university had put aside $70 million to cover the estimated liabilities for historical underpayment of casual staff.

“We deeply regret any underpayments that have occurred and are committed to ensuring all staff are paid according to our enterprise agreement,” Scott said.

Regional universities reported challenges gaining domestic students, thanks to a strong labour market as well as lower than pre-COVID-19 international student numbers.

“The confluence of the cost-of-living crisis and low unemployment rates tempered demand for tertiary education, impacting student enrolments. Recruitment became increasingly challenging as the university navigated a competitive labour market,” Charles Sturt University’s report said.

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