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In 2020, the top earning university in Australia was Monash University in Melbourne, with a total revenue of *** billion Australian dollars in that year. The University of Sydney and the University of Melbourne are also in the top three universities in terms of revenue.

Sandstone universities and the Go8

Like the American “Ivy League”, Australia’s most prestigious universities are often described collectively as “Sandstone Universities”, which is a reference to some of the earliest buildings in Australia being built of sandstone. Another grouping of universities, which takes into account some of the newer additions to Australia’s top universities, is known as the Group of Eight (Go8). The Go8 tend to be Australia’s more research-intensive universities and includes the Australian National University in Canberra and Monash university in Melbourne.

Income and funding

Universities rely on a variety of diverse income sources for their operating revenue. However, more than ** percent of university income comes from a combination of funding from the Australian government and international student fees. Domestic student contributions through the subsidized HECS-HELP scheme made up less than ** percent of total university revenue, despite the cost of an average three-year undergraduate degree costing over * Australian dollars for domestic students.