Who Earns More: Public vs Private School Graduates

PUBLIC School Graduates PRIVATE WHO EARNS MORE: Vs. Presented by AcademicEarth.org ATTENDING COLLEGE IS OFTEN SINCE PRIVATE SCHOOLS ARE : THE DATA WAS PREPARED BY A COMPLICATED DECISION USUALLY MORE EXPENSIVE, PAYSCALE with many different considerations. One of the many choices you need to decide upon is whether or not you want to attend a private or public university. the following infographic will shed some insight into the return on investment (ROI) of attending a private and is based on self-reported pay data obtained through its online salary survey tools; pay reports from approximately 1,000 (on average) alumni from versus a public 4-year institution and how that im- pacts your earnings over a 30-year career. each school were used in the ROI calculations. Weighted Net Tuition Cost E 195 $172,200 $99,687 $98,538 $85,276 $84,241 $55,861 $19,400 180 165 150 135 120 105 90 75 60 45 30 15 School of the Art Institute of Chicago (Illinis) Public (in state) Engineering Public Average Ivy League Queens College (New York) (out-of-state) *The weighted net tuition costs reflect not just the tuition sticker price, but also average grant aid and how long it takes the average student to graduate. Percent of Students Who Graduate 84% receive their degrees in four years, whereas only 61% graduate for the lowest-ranked schools based on ROI. 98% 98% 95% 66% 63% 56% 51% 11% 100 90 80 70 60 50 40 30 20 10 Harvard University Yale University Ivy League Private West Virginia University Institute of Technology Engineering Average Public Starting Salary Mid-Career Salary $57,124 is the average for schools with the top 50 starting salaries. Private, non- engineering universities had the highest representation of graduates who reported starting salaries above $50,000. Engineering schools made up more than 50% of the universities with starting salaries over $60,000 Only graduates from 42 schools reported an average mid-career salary over $100K. Private research, Ivy League, and liberal arts universities represented 60% of the mid-career salaries over $100K. UC Berkeley is the only non-engineering, public school with an average mid-career salary over $10ok Massachusetts Institute of Technology (MIT) Princeton University $69,700 $130,000 Engineering Ivy League $56,219 $109,750 Ivy League Engineering $53,675 $96,638 Average Average $41,656 $72,755 Private Private $41,252 $72,572 Public Public $40,795 $70,355 Coker College (Hartsville, SC) Coker College (Hartsville, SC) $27,600 $43,400 10 20 30 40 50 60 70 80 20 40 60 80 100 120 140 160 30-Year Net ROI, Including Aid The data reveals that Ivy League students go on to earn 7x the average, while engineers earn almost 4x that amount over their careers. MUDD IVY LEAGUE ENGINEERING PRIVATE S11545000 $107 0488 IS574827 IS 222 047 PUBLIC IN-STATE AVERAGE (OUT-OF UNIVERSITY IS152114 IS122987 IS100155 IS 16 1000 States with Top 50 ROI Schools 24 The average ROI for the Top 50 ROI schools was $912,084, with three states (California, New York, and Massachusetts) possessing half of the schools on the list. States depicted below include the number of schools on the list and the average ROI. Massachusetts $967,888 1 8. New York $825,975 New Hampshire $1,244,000 6. Pennsylvania $896,267 Colorado 2, 2 $852,450 1 Ohio Connecticut $755,800 $791,580 2 Indiana $930,350 California 9 $1,001,844 Rhode Island $900,100 1 North Carolina $1,170,000 1 Tennessee $722,400 New Jersey $1,076,750 2 2 Georgia $833,850 1 Texas Maryland $740,100 $722,400 1 District of Virginia $736,000 Columbia $804,400 Schools with Negative ROI There were nearly 300 universities with a negative ROI for students with the average loss being -$48,489, not surprisingly there were no Ivy league or engineering schools among this rank. Public (in-state) -$43,479 Private -$54,237 Public Judson University (Out-of-state) University of Central Oklahoma Average -$48,505 -$48,489 -$49,000 -$161,000 Top 50 schools based on ROI $1,600,000 $1,500,000 + $1,400,000 + $1,300,000 $1,200,000 + $1,100,000 - $1,000,000 + $900,000 + $800,000 + $700,000 + $600,000 + METHODOLOGY ROI Data was collected from: PayScale, Integrated Postsecondary Education Data The ranking was prepared by PayScale and is based on self-reported pay data obtained through its online salary survey tools; on average, pay reports from about 1,000 alumni from each school were used in the return on investment (ROI) calculations. The schools are ranked according to the 30-Year Net ROI, which represents the typical earnings of a graduate (in excess of those of a high school graduate) in 2012 dollars after deducting the net cost of the degree and adjusting for the school's six-year graduation rate. (An unadjusted ROI for graduates only is also shown.) The net cost of the degree is based on the total cost of attending the institution (including tuition & fees, room & board, System Salary Data was collected from: http://www.payscale.com/best-colleges/top-us-colleges- graduate-salary-statistics.asp and books), minus the average grant aid award, and the percentage of students who graduate in 4, 5, and 6 years. Annualized ROI is the percentage of ROI received each year after graduation; it is based on the 30-year net ROI, net cost of the degree, and annual wage inflation of 3.8 percent. A detailed salary chart is available at: http://www.businessweek.com/interactive_reports/colleges _return_on_investment.html Academic Earth makes a world-class education accessible to everyone by € ACADEMIC EARTH offering over 450 free online courses from the world's top universities such as Yale, Harvard, and Stanford. Visit us at www.academicearth.org HARVEY COLLEGE %24 PUBLIC NOS LLINOIS Harvey Mudd College California Institute of Technology (Caltech) Massachusetts Institute of Technology (MIT) Stanford University University Harvard University Dartmouth College University of Pen ersity University of Notre Dame vania Babson College University mbia University Cornell University Brown University Worcester Polytechnic Institute (WPI) Lafayette College Harvey Amherst College Rense Colorado sa College of Mines Carnegie Mete of Technology Yale University Manhattan College "Institute of Te (RPI) University (CMU) Colgate University RiceKeley Colorado School of Mines Georgia Institute of Technology va University Rose-Hulman Institute of Technology (RHIT) Case Western Reserve University Tufts University Villa is College College of the Holy Cross Union College, New York Johns Hopkins University Washington and Lee University Bucknell University Vang Connecticut) Persity of California, San 0er Union University of Sevew York UnD) •