It’s been revealed the vice-chancellors of Australia’s universities are among the highest paid people in the country.

Last week, Dame Glynis Breakwell resigned in controversy after UK media exposed her £468,000 a year ($816,000) salary, as Britain’s highest paid vice-chancellor.

But it turns out Dame Breakwell would only be Australia’s 28th highest paid university head.

12 vice-chancellors in Australia earn more than $1-million a year with Sydney University boss Michael Spence taking home $1.44-million in 2016.

Steve Price talks with Federal Education Minister Simon Birmingham about the obscene pay packets.

“We’ve been trying as a government to rein in some of the costs of universities for some time now.

“The universities across Australia have seen a  71% growth in their funding since 2009. It has been a big contributor to the growth in government expenditure, which of course comes at the same time as we’ve had troubles getting the budget back to balance.

Click PLAY below for the full interview