GDST Trustees

[Common]

How has the GDST Board of Trustees managed to create the first strike by staff in 149 years?

Cheryl Giovannoni and her board have treated a unique educational institution in the UK based on values, ideals and morals like a business because they fundamentally fail to comprehend the ethos of service that powers the GDST.

@meditrina

Over 75% of GDST teachers are NEU; GDST only recognises NEUz

A few people mentioning that teacher pensions are quite generous currently. 100% true! But the salaries are not! Especially when you look at the qualifications of many of the teachers (lots of advanced degrees/industry experience) they are taking a significant pay cut to work in schools. So the salary + pension overall is still not that good compared to what they would earn elsewhere. And now that's being cut!

The NEU is the only recognised union by the GDST!

@Egtimestwo17 but for how long can they afford it. This is exactly why most companies have moved away from defined benefits. It’s impossible to account for it … and it’s really expensive. Only the government can afford to cover any shortfalls which is why the majority of employees still on defined benefits are in the state sector . Honestly I do understand why you would be upset so my response is not a disagreement with your position at all. I am just stating why most companies literally cannot afford to stay on defined benefit schemes. Best of luck with the strike

If they could prove in their accounts they couldn’t, there would be more understanding. If they could prove they were due to spend £139million on capital expenditure it would be understandable. But in the face of all of this to say ‘to save £4 million’ across the 23 schools, it is disingenuous and deserves no understanding.

Should have said prove they weren’t due to spend^

I don’t really understand why parents would support this strike? Would they really be prepared to pay higher fees to cover higher TPS employer contributions when it’s very likely they are only in a DC scheme themselves, if working in the private sector too?
Looking at capital expenditure is not comparable - as the part charged through the income and expenditure account is only the depreciation for that year, so maybe only 10% of the headline figure.
Bottom line is that private sector businesses can not afford to pay for public sector defined benefit pension schemes.

@CiderWithLizzie

I don’t really understand why parents would support this strike? Would they really be prepared to pay higher fees to cover higher TPS employer contributions when it’s very likely they are only in a DC scheme themselves, if working in the private sector too? Looking at capital expenditure is not comparable - as the part charged through the income and expenditure account is only the depreciation for that year, so maybe only 10% of the headline figure. Bottom line is that private sector businesses can not afford to pay for public sector defined benefit pension schemes.

Because they want value for money so they want top quality teachers. They know that if the TPS is removed, GDST teachers would be financially better off in the state sector and they will leave. The schools will struggle to recruit quality replacements for the same reason - why take an inferior package?

Presumably that's a minimum of £4m recurring every year, with rises linked to wage inflation, and a distinct possibility of further increases to the scheme in future.

Cider is correct that capital expenditure is handled completely differently in accounts. Anyone seen if capital works come from restricted funds? They have endowments, dint they?

I won’t go into the fine details, but private schools including GDST members spend extraordinary amounts on buildings and refurbishments.

Many have virtually professional theatres on site and employ architects to design award winning modern buildings. Many also have in-site gyms for pupils.

Of course, income comes from fees and, if that is what parents demand, fair enough (although I think a lot of this comes from ambitious heads and not parents).

However, if schools cannot attract high quality teachers, they will also fail the parents. On the whole parents have more power than teachers, so heads prefer to please the parents.

A strike does seem to be a way to redress the power balance and let SLT (whom, by the way, have very different contracts to teachers) realise that they have to balance parents’ wants with teachers’ needs.

Agree with meditrina and Cider. Capital spending results in additional fixed assets so all goes on the balance sheet. Depreciation on the new fixed assets then comes out of the income and expenditure account, spreading the cost over up to 50 years (depending on the nature of the asset purchased - I would imagine that most of the spending is on buildings, which will therefore be spread over 50 years. Spending on things like new computers, furniture, etc. is spread over a shorter period). Spending on pensions comes out of the income and expenditure. Even if GDST stopped all capital spending it would make no difference to the availability of funds for teachers' pensions. I'm sure the union understands this, so it is disappointing that they seem to be telling members that cuts to the capital programme could fund their pensions.

It is reasonable for the union to ask for more details of capital spending than is in the annual accounts, which lists a small number of planned building projects. But it is wrong to suggest that this has anything to do with pensions.

The most recent accounts for GDST show a net income (what would be called profit if they weren't a charity) of £1.4M on turnover of £263M. That compares with net income of £2.4M on turnover of £272M the previous year.

It is a very emotive subject. I have two DCs that attend a GDST school and whilst I understand the reason for striking, I don’t support it. Being a teacher at a private school brings many benefits to the teachers. If the school doesn’t offer what you need, then go and work in the state sector. We all have a choice. Give up your 50% fee discount that you enjoy. That is a very generous reduction. The offer being made is still significantly higher than most professions receive. The parents are the ones that will pay for this in the end, as usual. We already pay a fortune and every extra is charged for. There was a picket line at all entrances this morning but so far I haven’t seen at collection time. Who knows what the outcome will be, but once again our children will lose out on their education.

Give over.

We don’t pay a fortune. GDST are some of the least expensive private schools going.

Not every teacher uses the 50% fee discount. It is a useless perk if you don’t have daughters.

Teachers deserve to be able to retire or to retire on ill health. They are not asking for much.

@Anjo2011

It is a very emotive subject. I have two DCs that attend a GDST school and whilst I understand the reason for striking, I don’t support it. Being a teacher at a private school brings many benefits to the teachers. If the school doesn’t offer what you need, then go and work in the state sector. We all have a choice. Give up your 50% fee discount that you enjoy. That is a very generous reduction. The offer being made is still significantly higher than most professions receive. The parents are the ones that will pay for this in the end, as usual. We already pay a fortune and every extra is charged for. There was a picket line at all entrances this morning but so far I haven’t seen at collection time. Who knows what the outcome will be, but once again our children will lose out on their education.

The best teachers will leave for state sector and you won’t have value for money. Why on Earth would any half decent teacher choose to work for less money than they could earn down the road? Yes we may have an extra couple of weeks of holiday, but I have way more stress than I had in the state sector.

Over 80% NEU as the NEU is the only recognised union by the GDST

@Anjo2011,

Parents do pay a fortune, but do you think teaching salaries have risen in line with private school fee of inflation? And, if not, why not?

As for teachers having a choice, yes they do. But, for many of the talented teachers in the private sector (especially in STEM subjects), the choice won’t be teaching in the state sector, but going into/returning to finance/management consultancy/senior I.T roles.

And will they be replaced easily? Maybe ask your school the quality and quantity of applicants last time they advertised a Maths/Physics or Chemistry job.

That’s my opinion. We are all entitled to one. You all have a choice, as do I as a full fee paying parent. I knew it would be unpopular but you can’t have it all your own way.

@Anjo2011,

Did you read the points I made above?

Of course you are entitled to your opinion as a ‘full fee paying parent’, but don’t you think that it might be based on a degree of arrogance and ignorance?

@TheReluctantPhoenix. I would say that your opinion is based on arrogance and ignorance. At no stage is there any mention of how it effects the children and their education. You all have a very me me me approach. I think the whole episode is a massive embarrassment for the GDST and the teachers. Sorry that isn’t what you wanted to hear. Not everyone supports the strike action.

@Anjo2011,

Who ‘all’?!

You are making massive assumptions about where posters are coming from.

Every strike in every business affects (not ‘effects’ btw) the customers. But that doesn’t mean that the workers/unions are wrong every time, does it?

Do you honestly believe even ‘well paid’ teachers on 50-60k, with good STEM degrees from good universities should take a net pay cut, when bankers got record bonuses?

@TheReluctantPhoenix. Thanks for the grammar check. Listen to yourself . It’s got nothing to do with bankers. If you want to go down that route let’s talk about the NHS shall we. No. Thought not. You have an opinion, as do I. Let’s leave it at that. I don’t agree with you.

[quote TheReluctantPhoenix]@Anjo2011,

Who ‘all’?!

You are making massive assumptions about where posters are coming from.

Every strike in every business affects (not ‘effects’ btw) the customers. But that doesn’t mean that the workers/unions are wrong every time, does it?

Do you honestly believe even ‘well paid’ teachers on 50-60k, with good STEM degrees from good universities should take a net pay cut, when bankers got record bonuses?[/quote]
As a class teacher, I can only dream of £50-60k

@Anjo2011,

We can certainly agree to disagree but I have actually countered the points you made, whereas you have just waffled on and not engaged with any of my questions.

Sure, let’s leave it there.

It is a discussion forum, and I am discussing. But let’s see what others think.

@Anjo2011

Just to give you a little extra perspective, as I only have boys, I can’t take advantage of the 50% fee discount you quoted. So DH and I have been saving like billy-oh in the hope that we can send our DSs to private school for seniors. It is simply not achievable on a teacher’s salary so we are making massive sacrifices to save this money. We are fully aware that our boys will be the ‘poor’ children at their school. But we are doing this because I want my DCs to have the type of outstanding education I provide every day.

But lo and behold, my pension is going to be massively cut and now we face the decision of saving for the shortfall or DC in private school. Or me moving to a different school in the state sector.

So it affects the children of teachers too.

@TheReluctantPhoenix I didn’t mean that negatively to you in any way at all, btw. Just making it clear to non-teachers that only management earn that kind of money. X