Student-staff ratios (SSRs) in higher education have a significant impact on teaching and learning and critical financial implications for organisations. While SSRs are often used as a currency for quality both externally for political reasons and internally within universities for resource allocations, there is a considerable amount of ambiguity over the actual impact of SSRs and whether a low SSR is reflective of better education outcomes. To provide insight into the importance of SSRs, this article reviews the existing literature looking at both an Australian and international context. It explores the impact of SSRs from three perspectives: (1) learning outcomes; (2) staff workloads and wellbeing; and (3) organisation reputation and funding. This article concludes by proposing a range of recommendations to improve SSRs in the tertiary education sector.