The University of New South Wales (UNSW) (informally New South), is a research-focused university based in Kensington, a suburb in Sydney, New South Wales, Australia. The university is a member of the "Group of Eight" coalition of leading Australian universities, and is also a founding member of Universitas 21, an international network of leading research-intensive universities. Despite its relatively short history, founded in 1949, UNSW is recognised as one of Australia’s leading teaching and research institutions, and has developed a strong reputation in a number of fields. Graduates from the university are held in high regard by employers and receive some of the highest starting salaries in comparison to other universities in Australia. As a result, greater than half of New South Wales' top HSC students each year consistently make UNSW their first preference, more than all other universities in the state combined. UNSW currently has approximately 46,000 students studying in 600 undergraduate and postgraduate academic programs.