Two months ago Halifax Financial Services released an interesting report looking at the disparity in the fees charged by independent schools which achieve good A-Level results.
Done in conjunction with the Independent Schools Council, the research analysed the results of the top 100 private day schools whose average A-Level score was at least 376 points. In the A-Level points system used by UCAS an A equals 120 points, B=100 points, C=80 points, D=60 points and an E=40 points. Unsurprisingly, girls’ schools achieved the best results, although to prevent this distorting the findings, girls', boys' and co-educational schools were analysed separately. Of the 100 top A-Level schools there were 54 girls' schools, 29 mixed sex schools and 17 boys' schools.
The research then compared academic results and term fees. The results showed:
Girls' schools:
· Fees varied by 144% or by £3,405 - from £2,370 at Withington Girls' School, Manchester to £5,775 at Wycombe Abbey School, High Wycombe
· Variation in performance was 20%, with scores ranging from 376 points at St Margaret's School Bushey, Watford, to 451 points at Badminton School, Bristol
· Disparity between fees and performance: Wycombe Abbey School charge £5,775 per term and have an A-Level average score of 439 points, which is very similar to the results for North London Collegiate School, Edgware (436 points) where the fees (per term) are £2,436 lower (£3,339).
Boys' schools:
· Fees varied by 200% (£5,029 ) - from £2,413 per term at Manchester Grammar to £7,442 at Winchester
· Variation in performance was 21%, with scores ranging from 377 points at Leeds Grammar to 457 points at Winchester
· Disparity between fees and performance: Tonbridge School charge £5,602 per term with an average score of 417 points, similar results to that of Royal Grammar School, Guildford (411 points), where fees are £3,452 (£2,150 lower).
Co-educational schools:
· Fees in the top 100 range vary by £4,531 (219%) - from £6,601 at Charterhouse to £2,070 at Twycross House School
· Variation in A-Level performance was 29%, ranging from 376 points at Cranleigh to 484 points at Westminster
· Variations between fees and performance: There was a significant difference between the most expensive top performing school, Rugby, whose score was 416 points and who charge £4,760 per term and Concord College, Shrewsbury (411 points), whose fees are £3,000 (£1,760 lower).
While this is a very inexact way for parents to decide upon which school may be suitable for their child, it is useful for parents to look at the correlation between fees charged and performance across the top-performing independent schools. With fees significantly outstripping inflation (as have exam fees and council taxes by way of comparison) choosing a school is often a decision that involves monetary considerations as well as academic performance.
Obviously, Halifax hope to use this report to try and build awareness amongst parents of their products. This is a very consumer-focused initiative and while many schools may not be too thrilled by such an analysis, Ray Milne, Halifax’s Managing Director was unapologetic in both his business pitch and why this is of interest to parents: ‘Viewing the options in terms of value for money can be helpful in making these choices, especially given the need to plan ahead with professional financial advice’.
