Research In 2022/23, following the 2021
Research Excellence Framework (REF), the English universities of the Russell Group saw their share of recurring research funding from
Research England drop by 2.71 percentage points from the 2021/22 funding (based on the previous 2014 REF) to 68.21 per cent, although most institutions saw a rise in actual funding levels due to an overall increase in funding. The top 19 English institutions in terms of funding continued to all be from the Russell Group, with the top 20 being rounded off, as before, by
Lancaster. The LSE was, as in previous REF rounds, the exception, ranking 31st in terms of funding (down from 23rd in 2021/11) and seeing a nine per cent fall (£1.7 million) in its allocation. In 2015/16, following the 2014 REF, the 19 English universities with
HEFCE research funding allocations (excluding transitional funding) in excess of £20 million were all members of the Russell Group. The only English Russell Group institution to receive an allocation below £20 million was the LSE (£18.6 million), which ranked 22nd behind the Universities of
Leicester and Lancaster (both on £19 million). In 2010/11, 19 of the 20 UK universities with the highest income from research grants and contracts were members of the Russell Group. In terms of total research funding allocations from the
Higher Education Funding Council for England (HEFCE) in 2007/8, the top 15 universities were all Russell Group institutions.
LSE was 21st, due to its focus on less costly social sciences research.
Queen's University Belfast,
Cardiff,
Glasgow and
Edinburgh, were not included in this table, as they are not English institutions. The Russell Group institutions received 82% of the total HEFCE research funding allocation. In the equivalent table for the 2014
Research Excellence Framework, the 24 Russell Group members occupied the top 24 positions, with the
University of Lancaster in 25th being the highest-ranked non-Russell Group university.
Rankings In 2023, all eight UK universities in the ARWU top 100, seventeen of the eighteen in the QS top 100 (the other place being occupied by the
University of St Andrews), and all ten in the
THE top 100 are members of the Russell Group. The Russell Group provides seven of the top ten in the Complete, Guardian, and Times/Sunday Times.
Selectivity All but two of the universities in the Russell Group are part of the
Sutton Trust's group of 30 highly selective universities, the
Sutton 30 (the absent members being Queen Mary University of London and Queen's University Belfast). The
Sutton 13 group of the 13 most highly selective universities only includes one non-Russell Group member, the
University of St Andrews. The top 10 by average
UCAS points of new undergraduate students in 2021–22 included three non-Russell Group universities: St Andrews (1st: 212 points),
Strathclyde (2nd: 210 points), and
Aberdeen (joint 10th with Durham: 185 points). b The average offer rate for June deadline undergraduate applicants (all ages) in 2024.
Finances The Russell Group accounted for 49.1% of the income of the higher education sector in the UK in 2013–14, having risen from 44.7% of the total in 2001–02. Over the same period the total income of Russell Group universities rose by 69.9% in real terms, compared to a sector average of 54.4%. Russell Group universities are also seen as "particularly creditworthy" due to their membership of the group, allowing them to borrow money at low interest rates. The total annual income for Russell Group members for 2023/24 was £25.31 billion (2020/21 – £20.30 billion) of which £5.67 billion (2020/21 – £4.77 billion) was from research grants and contracts, with an operating surplus of £6.50 billion (2020/21 – £1.15 billion). Russell Group universities hold a total endowment value of £6.66 billion excluding colleges (2020/21 – £6.18 billion) and net assets of £41.08 billion (2020/21 – £31.52 billion). The table below is a record of each Russell Group member's financial data for the 2023/24 financial year.
Notes:‡ exclusive of colleges ==Criticisms==