Colleges That Will Make You Rich
“Forbes” has an article out today that includes a ranking of colleges that will make you rich. First off, to understand the colleges that will make you rich ranking, this might be helpful: As according to “Forbes,” “To find the colleges that make their students rich, we first control for student background, looking at things like the average SAT scores of incoming students, and the percentage of student body that receives financial aid. Then we calculate, based on those background factors, how much you would expect graduates at each school to earn in their careers–and we compare that to their actual earnings. Schools that do the best job raising their students above expectations rank higher on the list.” The average salaries included below are for alumni of these universities 10-19 years subsequent to graduation. And the total cost cited by “Forbes” is “for out-of-state students living on campus during the 2008-09 academic year, and may include tuition, room and board, books, fees, and other expenses, where applicable.”
So which university tops the ranking, you ask? Drum roll. That answer is Williams College, with an average salary of $120,684. The total cost of Williams per year is $49,530. Placing second is Dartmouth College, with an average salary of $120,468 and a cost per year of $50,547. Placing third is Stanford University, with an average salary of $116,954 and a total cost per year of $51,760. Rounding out the top ten are: Santa Clara University, St. Mary’s College of California (who knew?!), University of Chicago, Georgetown University, U.S. Military Academy, Occidental College, and Polytechnic Institute of NYU.
Among the top twenty colleges in this ranking are also Bentley College, University of California – Berkeley, University of San Francisco, Duke, University of Southern California, and Colgate University. Have a question on these rankings? Did you think that graduates of a certain university make more than they do? Let us know your thoughts by posting a Comment below. We look forward to hearing from you! And while you’re here, check out our post on Ivy League Salaries.
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The students I know from Stanford with a computer science major make more than $117,000.00 their first year out of school at jobs in Silicon Valley. A big factor is the major. There is a comparison of apples and oranges by Forbes to lump all majors together.
Harvard, Princeton, Yale are nowhere to be found on the list. Should we conclude high school students should avoid these three schools if they want to maximize their earning capacity?