250 Trinity staff members earned upwards of €100,000 in the last year

Staff costs amounted to €271.5 million in 2019

Staff costs represented College’s largest current expenditure in 2019, amounting to €271.5 million, with six members of staff earning more than €300,000 each.

1,107 of Trinity’s employees are categorised as “higher paid staff”, with the category capturing those with an annual salary of more than €60,000. 36% of these higher paid staff earned between €60,000 and €79,000 in 2019, while 39% earned between €80,000 and €99,999. 258 members of staff, or 23%, received over €100,000.

College’s top earner received between €360,000 and €370,000 in 2019, while five others received between €300,000 and €340,000. A further five staff members earned between €280,000 and €290,000.

In a statement to the Irish Times, a spokesperson for College said that “salaries paid on all of the main universities are governed by strict State rules”.

Other operating expenses cost College €111.4 million last year, an increase from €102.5 million in 2018. Service contracts, consumables, and computers and equipment, account for the largest proportions of these expenses, at €12.7 million, €11.6 million, and €11.1 million respectively. €10.4 million was spent on student related costs and awards.

Interest and other finance costs were €4.2 million, while depreciation amounted to €24.2 million, bringing total expenditure to €411.3 million for the 2019 financial year.

College’s capital expenditure in 2019 amounted to €61 million, with spending allocated to infrastructure projects such as the Trinity Business School, Printing House Square, and existing campus facilities.

The new Trinity Business School building was officially opened in May 2019, eight years after its initial inception. It houses a 600-seat auditorium and 140-seat lecture hall, several smaller lecture theatres, and the Forum restaurant. 

The redevelopment of Printing House Square, which is to be used as on-campus student accommodation, has experienced a series of setbacks, the most recent of which is due to the closure of College and construction sites amid the outbreak of Covid-19 in Ireland.

College’s financial statements for the year ended September 2019 were approved by the College Board on March 25. 

In his report accompanying the financial statements, Chief Financial Officer Peter Reynolds commented that while “financial performance is strengthening”, he identified that “there are still major challenges in achieving the income required for a globally-competitive research university”.

Revenues amounted to €404 million for the 2019 financial year, with a surplus of €5.7 million recorded for College and its subsidiaries.

2019 marks a significant increase from the surplus of the previous year, which saw a €0.9 million surplus. In 2017, 2016, and 2015, College returned a deficit of €3.5 million, €9.4 million, and €14 million respectively.

Lauren Boland

Lauren Boland was the Editor of the 67th volume of Trinity News. She is an English Literature and Sociology graduate and previously served as Deputy Editor, News Editor and Assistant News Editor.