I was looking at this clickbait article, and a question occurred to me.
How many of the colleges in the US are actually a good return on investment?
Can anyone give me stats on that? I’d rather not trust google’s AI on this one.
1 Like
MIT for sure.
Allan
It varies A LOT by major.
So much so that I’d have to imagine that schools like with big engineering programs (EX Penn State) look really good when in fact the difference is just how many students in each major.
I chose U MIch at random and found the following data collected by the IRS on persons who owe student loans.
First year after graduating:
- Computer Engineering (Bachelor’s Degree) $77,300
- Business Administration, Management and Operations (Bachelor’s Degree) $76,900
- –many other entries–
- Liberal Arts and Sciences Studies and Humanities (Bachelor’s Degree) $34,100
- Geological and Earth Sciences/Geosciences (Bachelor’s Degree) $33,800
- Anthropology (Bachelor’s Degree) $23,600
- Linguistic, Comparative, and Related Language Studies and Services (Bachelor’s Degree) $23,500
- Film/Video and Photographic Arts (Bachelor’s Degree) $23,200
- Natural Resources Conservation and Research (Bachelor’s Degree) $22,700
Note: $12/hour X 40 hours X 50 weeks = $24,000
IOW the bottom folks are making less than full-time McWorkers
2 Likes
What percent of college grads find jobs in their field of work?
I haven’t seen hard numbers in over a decade, but I recall there was a great disparity there and it is exactly what you’d think.
There are very few openings of philosopher or comparative music major and a lot more for anything relating to STEM or business.
For several decades a bachelors in anything put you on the fast track for a gov’t job or mgmt position, but I gather that is much less true today.
Here’s article about it…
Only 27.3% of college graduates work in the field of their degree.
62.1% of college grads don’t work in their major field.
38% of people with a bachelor’s degree say they would have chosen a different major.
48% of college grads with humanitarian or arts degrees said they would have studied something different.
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In engineering, close to 100%
According to US News and World Report:
California Institute of Technology
Massachusetts Institute of Technology
University of Pennsylvania
Stanford University
Princeton University
Carnegie Mellon University
Stevens Institute of Technology
Georgetown University
Though with the advantages gained by attending military academies, they may come out with a hight ROI.
the military academies are on the taxpayers dime.
its a really good deal all around for the United States.
Allan
Guaranteed student loans and the government taking them over and making them more predatory…in a nutshell.
That plus a negative reinforcement loop where because we have more people with college degrees, we needed to start declaring that more jobs require a college degree for entry.
Overly simplistic I agree…but I get pretty close.
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That can’t be right, where’s Hahvad?
I wonder what the ROI is if you exclude government jobs.
You have no idea what you’re talking about.
This is a stupid system all together. We expect a 19 year-old to decide what they want to do for the rest of their lives, pick a major and start two months after they graduated high school.
It’s absurd.
no?
from a govt website.
“The United States Military Academy is a four-year, coeducational federal service academy located at West Point, New York. There is no tuition to attend”
Allan
No.
…
no.
from the same website.
“ The value or cost of the academic education for a class of 2016 graduate is $226,051.”
who pays the quarter of a million dollars for the cadets education?
Allan
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No.
…
i disagree.
Allan
Out of ignorance.
actually i am pretty sharp when it comes to govt websites on the internet.
Allan
