When it comes to selecting the right school for your child, many factors come into play, including academic performance, tuition fees, extracurricular opportunities, and the overall socio-economic context of the school. To provide a data-driven comparison, we conducted an analysis of 182 private schools in Victoria, focusing primarily on the relationship between VCE performance, school fees, and the socio-economic background of students, as measured by the ICSEA (Index of Community Socio-Educational Advantage). The aim was to determine which schools offer the best value for money in terms of academic results, adjusting for socio-economic factors that might influence performance.
In this analysis, we examined several key metrics, including median VCE subject scores, percentage of scores above 40, and the number of students per teacher to explore how these factors correlate with school fees. Our goal was to identify patterns and insights into which schools provide the best academic results relative to their cost, while accounting for their students' socio-educational background.
Understanding the dataset
Before we dive into the data, we want to share the source of the information we are analysing. In order to perform the analysis, here is the data we needed for each school:
To assess the outcomes achieved by schools in Year 12 we will be using the median VCE subject score as well as the percentage of VCE scores above 40. To assess the best value, we will be comparing these results againt the school fees. Lastly, we will use the ICSEA percentile to scale the results to take into account the socio-educational background of students at a school.
All data points in this analysis are from 2023.
In order to keep the analysis fair, we have only included private schools where we have a data-point for all variables. As a result, we ended up comparing 182 private schools.
What are the characteristics of the private schools?
In our data-set, the majority of the schools compared are located in Melbourne and Geelong. On average these performed better than schools in “Inner Regional” and “Outer Regional” areas. The variance for median VCE score is quite small whereas there is much more discrepancy when comparing percentage of scores above 40. “Major Cities” average doubled the amount of scores above 40 than “Inner Regional” schools and was nearly 4 times the number of scores above 40 than “Outer Regional” schools.
Interestingly, although “Major Cities” on average have more teachers than “Inner Regional” and “Outer Regional” schools, when compared against total enrolments in school, there is parity across the three regions varying between 11-11.7 students per full-time teacher.
It is also important to note that these schools in “Major Cities” had a much higher ICSEA. This will be factored in to the analysis when comparing schools.
Which metric to use to compare VCE outcomes?
When analysing VCE scores in relation to school fees, we have two metrics we can choose:
- Median VCE subject score
- Percentage of VCE subject scores above 40
It's important to choose the right metric for a meaningful comparison.
The Median subject score is often limited by its lack of variance, as it is rounded and tends to cluster schools with similar results, making it difficult to differentiate between them. Additionally, the median can be affected by students who are not aiming for high academic results, such as those involved in large sports or music programs.
On the other hand, the percentage of scores above 40 offers a more insightful perspective. This metric focuses on excellence, highlighting how well schools support their most driven students in achieving top marks. It reflects the success of schools at pushing students who are trying for high VCE results and provides a greater degree of variation, making it much more useful for detailed analysis and comparisons between schools.
When comparing VCE scores between schools, it’s essential to scale the results to ensure a fair comparison. One key factor that can significantly influence academic performance is the socio-economic background of the students, which is measured using the ICSEA (Index of Community Socio-Educational Advantage).
Research shows that students from lower socio-economic backgrounds tend to perform worse academically than their peers from more advantaged backgrounds, due to a variety of factors such as access to resources, family support, and parental education levels(Institute for Social Science Research). Students from disadvantaged backgrounds often face challenges such as lower engagement in school and higher absenteeism, both of which are linked to poorer performance in standardised tests.
By scaling scores using ICSEA, we can adjust for these socio-economic differences and make the comparison between schools more meaningful. This approach helps to ensure that the performance reflects the school's impact on its students, rather than external socio-economic factors beyond the school's control.
So, what did we find?
This graph reveals interesting trends in the relationship between school pricing and their performance based on the adjusted scores above 40. Ultimately, we can say that there is a strong correlation between price and performance even adjusting for socio-economic status.
There is a cluster in the bottom left corner where a significant number of schools with lower adjusted scores are also priced at the lower end. This cluster occurs for schools where the fees are less than $15,000 per year. For schools above $15,000 the distribution of results is much greater. These schools tend to show similar performance and pricing, making it difficult to differentiate value purely on these metrics within this cluster.
As the scores and prices increase, the data begins to fan out, showing more variability in both price and performance. This spread highlights differences in value between schools.
The trend line serves as a benchmark for expected value based on performance. Schools that fall below the trend line offer better value, as they have higher performance relative to their price. In contrast, schools above the trend line are likely to be offering worse value, as they charge higher prices but don't achieve correspondingly higher performance scores.
There are quite a lot of schools with very high prices but way below average adjusted scores.
This visualisation allows for a clear identification of schools that provide good or poor value relative to their peers based on both cost and academic excellence.
Which school offered the best bang-for-buck?
In order to answer this question, we need to determine a metric that incorporates the price and the results achieved by the school. In order to do this, we compared the ratio of the cost of the school to the percentage of scores they achieved by 40%.
We calculated the value of each school by first normalising the price to remove extreme cost differences and then adjusting the performance score (percentage of scores above 40%) based on the school's ICSEA score, which reflects the socio-economic background of its students. Schools with higher ICSEA scores received a slight reduction in their performance to account for the advantages of serving more privileged communities. The value was then determined by dividing the adjusted performance score by the normalized price, allowing us to rank schools based on how much academic performance they deliver relative to their cost. Below is the top 20:
To be clear, the value number does not mean anything, it is arbitrary. But it provides us a way to compare which school offers the best “bang for buck”.
- Higher Value: A higher value indicates that the school provides more academic performance relative to its cost relative to the other school pricers and performance. In other words, the school is considered a "better deal" because it delivers strong academic results while having a reasonable price compared to others.
- Lower Value: A lower value means that the school’s academic performance, when adjusted for its cost, is not as strong compared to other schools. This might indicate that the school is more expensive relative to the academic results it delivers, or its adjusted performance is lower.
The calculated “value” also tell us:
- Efficiency of Investment: The value number effectively tells you how efficiently your investment (tuition cost) translates into academic success (performance above 40%, adjusted for socio-economic factors).
- Relative Comparison: The value number allows for a relative comparison between schools. Schools with higher values deliver better academic results for the same or lower price, making them better options in terms of "bang for the buck."
- Socio-economic Adjustment: By adjusting performance scores for the ICSEA (socio-economic advantage), the value also reflects how well schools perform given the socio-economic background of their students. Schools in more disadvantaged areas that perform well will have a higher value, as their performance is achieved despite socio-economic challenges.
Top 20 schools with value where minimum scores were 12.5%
The above analysis included all schools where there is quite significant price and score variation which can be be difficult to normalise. Let’s take a look at the rankings for which schools which perform really well and still offer great value. We will only include schools that achieved 15% of VCE subject scores above 40 (~46 schools).
Top 20 schools with value where fees are $15,000+
Lastly let’s look filter the results only for schools were school fees are $15,000. Amongst the elite private schools in Victoria, let’s see where the most value exists.
Ballarat Clarendon College tops both lists offering great value and great scores.
Limitations to this analysis
This is a very rudimentary analysis and comparison and only begins to scratch the surface of decisions you should consider when comparing schools or selecting a school for your child.
Here are some limitations of this analysis:
- Focus on only VCE scores and price: This analysis evaluates schools purely based on VCE performance and tuition fees, which is a limited perspective and does not capture other important aspects of choosing a school.
- Extracurricular activities not considered: Many schools include extracurricular activities (sports, music, arts) in their tuition fees, which are not accounted for in this analysis. These activities are an essential part of a school’s value.
- Emphasis on extracurriculars impacts VCE performance: Some schools prioritise extracurricular programs, which may affect the focus on academics and subsequently lower their VCE scores.
- Impact of International Baccalaureate (IB) programs: In schools that offer both VCE and IB programs, many strong academic students choose the IB pathway. This can skew the VCE results downward, despite the school's academic strength.
- Other important factors excluded: Aspects such as class sizes, teacher quality, student wellbeing programs, school facilities, and community culture, which are critical to school choice, are not part of this analysis.
- Holistic education overlooked: Schools that focus on developing well-rounded students, including leadership, creativity, and social skills, may have different priorities that don't align solely with VCE outcomes.
The project aimed to apply basic data analysis to identify the best value schools, focusing solely on price and academic performance.
Does the number of teachers have impact on VCE scores?
As part of this analysis, we also wanted to answer the question, does more teachers per student improve student performance. This topic is studied a lot in literature and generally suggest there is a positive relationship between the number of teachers per student and student performance. So how does this look in Victoria?
The scatter plot shows a negative correlation between the number of students per teacher and the adjusted scores. As the student-to-teacher ratio increases (i.e., more students per teacher), the performance (adjusted scores above 40%) tends to decrease. This suggests that smaller class sizes (fewer students per teacher) are generally associated with higher academic performance, which aligns with much of the educational literature that highlights the benefits of individualised attention in smaller classes.
How does this manifest when isolating the schools into $10,000 price bucket intervals:
- $40,000+ Bucket: Schools in this price range tend to have fewer students per teacher and high adjusted performance scores. This suggests that premium schools are maintaining smaller class sizes, which likely contributes to their higher academic outcomes.
- $30,000 to $40,000 Bucket: This bucket shows a moderate student-teacher ratio, with a corresponding moderate performance level. The schools in this range are balancing price with class size, but their performance is slightly below the premium schools.
- $20,000 to $30,000 Bucket: Schools in this range display a wider spread in both class sizes and performance. Some schools with smaller class sizes maintain decent performance, but others with larger class sizes see a dip in their adjusted scores.
- $10,000 to $20,000 Bucket: Schools here generally have larger class sizes and lower performance. The higher number of students per teacher is likely impacting their academic outcomes.
- Less than $10,000 Bucket: Schools in this category often have the largest student-teacher ratios and lower performance scores. The reduced cost correlates with larger class sizes, which may negatively impact performance.
So, what are some reasons for this relationship:
- Class Size and Individual Attention: Schools with fewer students per teacher are likely able to provide more individualised attention, which boosts academic performance. Students in smaller classes can receive more focused instruction and personalized feedback, which enhances learning outcomes.
- Resource Allocation: Higher-priced schools often invest more in teaching staff, which enables them to maintain smaller class sizes. These schools may also offer more support resources, extracurricular activities, and advanced learning opportunities, which contribute to better academic performance.
- Focus on Academic Excellence: Premium schools in the $40,000+ and $30,000 to $40,000 buckets likely place a strong emphasis on academic achievement, and their investment in smaller class sizes reflects this focus. Conversely, schools in lower price buckets may prioritize other aspects of education, such as extracurricular activities or a broader educational experience, which could shift the focus away from purely academic performance.
- Economic Constraints: Schools in the lower price buckets may face budgetary constraints, limiting their ability to hire enough teachers to maintain small class sizes. As a result, larger student-teacher ratios negatively impact academic outcomes, as students in these schools may not receive the same level of individualised instruction.
Our analysis highlights several important insights for parents and families looking to make informed decisions about school selection. While schools with higher fees tend to achieve better academic outcomes, there is more to consider than just price and performance. Factors such as class size, extracurricular opportunities, and the socio-economic background of students all play a role in shaping a school's value.
By adjusting for socio-economic factors through the ICSEA and comparing performance metrics against fees, we were able to identify schools that offer excellent "bang for the buck" in terms of academic results. However, it's crucial to recognise that education is not just about VCE performance—many schools prioritise holistic development, extracurricular success, and fostering well-rounded students, factors which are not captured in a simple price-performance analysis.
In conclusion, while our data-driven approach provides valuable insights into which schools offer the best academic value, it’s important for families to consider a wide range of factors when selecting a school. Academic excellence is just one part of the overall educational experience, and a school's ability to develop well-rounded, successful students goes beyond just VCE scores.