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The Uni executive suite for over trying to run a school like a for profit business as opposed to a non profit like it should be.
The purpose of universities is to educate not to make money. The money is a secondary reward for doing the primary thing. If the money supercedes the education then the core is rotten.
Universities selling unearned degrees for money are cannibalising their reputation in the process and as a result are damaging the reputation of the industry as a whole. This needs to stop.
Disagree on one point - independent research. Higher ed should be the venue where research that's not directly attached to a commercial body can sit. I'm supportive of running a small surplus on fees as long as it's directed to research, otherwise you're stuck with governmental and commercial grants which frequently come with strings attached.
So are any of these VCs taking pay cuts themselves? Some are on exorbitant salaries.
Yes. VC for ANU has done 10% voluntarily and asked senior leads to do similar or opt out of annual salary increase.
Melbourne, Monash, UniNSW who knows.
Edited to add - she was on about 1.2 million per year so doing a 10% reduction in salary is probably a role saved.
Universities seem to have lost their way , trying to be a business instead of being a University
But maybe thats the future?
The university sector is in crisis
When wasn't it in crisis?
Probably before they got greedy and decided pursuing overseas students for the higher fees while lowering standards was a long term sustainable business choice.
2010 through 2020 was pretty golden financially. It's why there were so many rorts.