King’s College London (KCL) reported an operational surplus of £39.8 million for 2024-2025. This operational surplus indicates a financial recovery from a deficit of £3.2 million in the previous year (2023-2024).
The university’s total income for the year also rose to £1,377 billion, marking a successful 8% increase from the previous academic year. The surplus before any gains or losses displays an operational stability after having had a £19 million day-to-day operational deficit last year.
This notable financial stability has been driven by tuition fee rise, which rose by £81 million. Out of those £81 million, £67 million derives from international student tuition fees, accounting for 82.7% of overall rise in tuition fees.
As a whole, tuition fees now translate to 44% of the university’s total income, with international student fees making roughly 30% of the university’s total income. While international tuition fees help revenue growth, they also pose a risk of financial over-reliance that can be affected by external factors such as geopolitical shifts and regulatory changes to student visas.
According to the report, the total comprehensive income improved significantly. While the 2023-2024 year recorded £18.3 million, this current year it reached £70.7 million. This rise is attributed to long term investment portfolios and general investment gains, making it a successful financial year compared to the previous one.
The salaries of senior staff and professors saw a moderate raise, with 174 staff members earning more than £100,000. This marks a 10.1% rise from the 2023-2024 academic year where only 158 staff members earned above £100,000, suggesting an ongoing remuneration for higher academic positions.
However, Vice-Chancellor Shitij Kapur still remains the highest paid staff member, having earned £428,000 in 2023-2024. For the current academic year, his total pay rose to £446,000, signalling a 4.2% raise (£18,000).
While the number might raise concerns over the high pay of senior staff in higher education compared to other employees, it is a lower remuneration compared to other Russell Group universities. University College London’s (UCL) Vice-chancellor earned £531,100 for the 2024-2025 year, earning 14.5% higher than King’s Vice-chancellor.
The university’s endowment increased by £16 million, from £325 million (2023-2024) to £341 million (2024-2025). This reflects King’s commitment to long term investment in global stock markets and cash and short term deposits to support scholarships, bursaries, infrastructure projects and research funding.
Short-term cash investment fell by 0.62% from £321 million to £323 million, signalling only £2 million less than last year. However, the university’s cash balance is projected to reduce significantly in the coming years due to the approximate £150 million being invested in the redevelopment of Bush House South West wing.
From 2027-2028 onwards, King’s is targeting a 4% operating surplus. This aim will aid the university in supporting their annual investments averaging £120 million per annum across six years (2026-2031). This will not only establish a financial safeguard for the university, but also generate the necessary resources to upgrade technology, invest in new facilities and support long term projects across the institution.
Editor’s note: This article was updated on 12 March 2026 to correct errors regarding income, tuition fees and the Vice-Chancellor’s renumeration.
About the author
