University of Birmingham publishes 2023-24 annual report and accounts

The University of Birmingham has published its annual report and accounts for the 2023/24 financial year. Following continued high levels of demand to study at Birmingham and a strong performance in securing research funding, the University achieved its highest-ever income of £945 million.

Professor Adam Tickell, Vice-Chancellor and Principal at the University of Birmingham said: “Thanks to the efforts of many people across the University, we continue to be a very popular choice for UK and international students, generating tuition fee income of £456 million. A relentless focus on the quality and relevance of our research also saw our research income exceed £200 million for the first time. We also continue to move up the global league tables, achieving 80th position in the QS World University Rankings this year.

“As a result, the University is on a sound financial footing, with indications that our income will exceed £1 billion and our surplus will improve this year, ensuring that we are well placed to maintain our momentum as we aim to become a global top 50 institution. I also recognise that the Higher Education sector in the UK is facing a challenging and uncertain time, and continuing to manage the University in a financially sustainable way is critical to help protect against future volatility. This includes a commitment to increase our income, improve our surplus, and manage our costs through operating more efficiently in order to generate the funds we need to continue investing in our staff, students, infrastructure, and future.”   

Investing for future success includes spending £14.4 million on supporting access and participation in higher education for students from more disadvantaged backgrounds and an ambitious 2045 vision for improvements to the University’s Edgbaston campus. Investment in broader student support around wellbeing and employability saw Birmingham recognised as the first choice University for graduate employers.

We have also continued to invest in our academic and professional services staff, for example through our 125th Anniversary Fellows and Chairs initiative to recruit world-leading academic talent, and by implementing new rates, terms and conditions for support staff at a cost of £5 million.

As well as providing world-class education and research that is changing how the world works, the University is an important source of economic and social benefit. Based on data from the 2021/22 academic year, London Economics estimated that the University of Birmingham contributes £4.4 billion to the UK economy and supports nearly 20,000 full-time equivalent jobs in the UK.

The value and impact of universities locally in their communities, nationally in addressing economic and social challenges, and internationally as major exporters and contributors to UK soft power, has never been more important. The University of Birmingham is an economic powerhouse, which makes a lasting impact on individuals and society.