Students graduating from engineering colleges enjoy the biggest return on their investment. Learn more.
Engineering colleges yield the biggest pay off for money spent on tuition, room and board, books and other educational expenses, according to the 2013 College Return on Investment (ROI) Report released this week by PayScale Inc.
Engineering schools account for the top five colleges on the PayScale ROI list of 1060 colleges and universities, surpassing private research universities, liberal arts schools, business schools, Ivy League schools, private schools, public schools, and music and design schools. The rankings compare the median salary of undergraduate alumni over a 30-year career – minus educational expenses – to that of a high school graduate working for 34 to 36 years.
“In this uncertain economic climate, understanding the potential return on the investment in education is vital," Katie Bardaro, the lead economist for PayScale, said in a statement.
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Engineering Schools have an average ROI of $1,208,383, more than twice the ROI of $458,405 for Liberal Arts Schools, according to PayScale, which tracks and analyzes current market salaries.
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PayScale’s top ROI schools are:
1. Harvey Mudd College yields an average 30-year return of more than $2.2 million for an average investment of $221,700.
2. California Institute of Technology yields an average 30-year return of more than $2.1 million on an average total investment of $123,000.
3. Massachusetts Institute of Technology yields an average 30-year return of nearly $1.74 million on an average total cost of $215,700.
4. Polytechnic Institute yields an average 30-year return of nearly $1.73 million on an average total cost of $214,300.
5. State University of New York Maritime College yields an average 30 year return of $1,611,000 investment on an average total cost of $90,530.