Current:Home > NewsA college degree can boost your pay — but so can your alma mater. Here are top colleges for income. -TruePath Finance
A college degree can boost your pay — but so can your alma mater. Here are top colleges for income.
Algosensey Quantitative Think Tank Center View
Date:2025-04-10 14:39:26
College is viewed by many economists — and parents — as key to securing a rewarding, well-paying job. New research now indicates that which college you attend can also have a lifelong impact on your earnings, with grads from top-ranked universities such as Princeton and MIT far out-earning the typical college grad.
By mid-career, or at least 10 years after their diploma, alums of Princeton and MIT received the highest salaries among all college grads, at almost $190,000 annually on average, according to a new analysis from PayScale. Meanwhile, college graduates between 25 and 64 years old earned median incomes of $74,154 last year, according to recent data from the U.S. Census Bureau.
Overall, the universities and colleges that lead to the best-paying careers after graduation are Ivy League colleges, technical universities such as MIT and private academies, PayScale said of its findings.
Parents and students are increasingly scrutinizing the cost of a college education and its return on investment given the soaring price of a four-year degree, which has pushed student debt up to $1.8 trillion and has saddled 44 million Americans with loans that could take years to pay off. Increasingly, researchers say there are two factors that can influence the payoff from a bachelor's degree: A student's major, as well as the college they attend.
Elite institutions can help lift a graduate's earnings, which could be through mechanisms such as alumni support networks or even bias toward grads of these schools. One recent study from Harvard economists found that the impact of getting an elite education can be significant, with grads of Ivy League schools and other top institutions 60% more likely to have incomes among the top 1% compared with those who didn't attend those colleges.
Payscale's analysis is based on alumni salary data of 3.47 million respondents, representing 2,475 associate's and bachelor's degree-granting institutions throughout the U.S.
Colleges with the lowest-earning grads
But not every college grad is raking in six-figure-plus salaries, according to PayScale. Indeed, institutions with alums who earn among the lowest mid-career salaries tend to be religious colleges and some state institutions, the analysis found.
For instance, at the bottom of its rankings are a number of Christian colleges whose grads earn slightly more than $60,000 annually at mid-career.
That could also be influenced by those colleges' focus of study, given that Americans who earn theology or related degrees tend to earn less than other college grads. Youth ministry majors earn an average of $61,700 annually at their mid-career level, PayScale found, placing that major at No. 776 out of the 799 majors tracked by the analysis.
You can search PayScale's database here for your alma mater to see what the typical grad earns at early and mid-career, with the former representing alumni with 0 to 5 years experience and the latter tracking people at least 10 years after graduation.
The top 20 colleges for mid-career pay
1. Princeton University: $189,400 (tied)
1. Massachusetts Institute of Technology: $189,400 (tied)
3. United States Naval Academy: $181,500
4. Harvey Mudd College: $179,600
5. Stanford University: $177,500
6. Babson College: $175,200
7. Colgate University: $173,800
8. Dartmouth College: $173,300
9. Santa Clara University: $173,100
10. University of Pennsylvania: $171,800
11. Harvard University: $171,400
12. United States Military Academy: $171,000
13. Williams College: $169,200
14. Stevens Institute of Technology: $168,700
15. California Institute of Technology: $168,600
16. Yale University: $168,300
17. Lehigh University: $168,200
18. Claremont McKenna College: $167,000 (tie):
18. University of Berkeley, California: $167,000 (tie)
20. United States Air Force Academy: $166,100
Top and bottom 10 majors by income at mid-career
Top 10:
1. Petroleum Engineering: $212,500
2. Operations Research & Industrial Engineering: $191,800
3. Interaction Design: $173,600
4. Applied Economics and Management: $164,400
5. Building Science: $163,100
6. Actuarial Mathematics: $160,000 (tie)
6. Operations Research: $160,000 (tie)
8. Systems Engineering: $159,100
9. Optical Science & Engineering: $158,300
10. Information & Computer Science: $157,800
Bottom 10:
1. Early Childhood & Elementary Education: $56,500
2. Outdoor Education: $55,200
3. Baking & Pastry Arts: $54,900
4. Mental health: $52,900
5. Child & Family Studies: $52,700
6. Equine Studies: $52,500
7. Addictions Counseling: $52,200
8. Nonprofit Administration: $52,100
9. Early Childhood Education: $50,600
10. Metalsmithing: $44,900
- In:
- College
veryGood! (58625)
Related
- How to watch new prequel series 'Dexter: Original Sin': Premiere date, cast, streaming
- Do ab stimulators work? Here's what you need to know about these EMS devices.
- American woman believed to be held hostage by Hamas was actually killed in Oct. 7 attack, spokesperson says
- As new minimum wages are ushered in, companies fight back with fees and layoffs
- What do we know about the mysterious drones reported flying over New Jersey?
- The 55 Most Popular Amazon Items E! Readers Bought in 2023— K18, COSRX, Laneige, Bissell, and More
- Judge turns down Democrat Sen. Bob Menendez’s request to delay his May bribery trial for two months
- An associate of Russian opposition leader Navalny is sentenced to 9 years in prison
- Newly elected West Virginia lawmaker arrested and accused of making terroristic threats
- Tribes guard the Klamath River's fish, water and lands as restoration begins at last
Ranking
- A South Texas lawmaker’s 15
- Staying In Never Looked This Good: Your Ultimate New Year’s Eve Stay-At-Home Celebration Guide
- Kansas State celebrates Pop-Tarts Bowl win by eating Pop-Tarts mascot
- In 2023 fentanyl overdoses ravaged the U.S. and fueled a new culture war fight
- Whoopi Goldberg is delightfully vile as Miss Hannigan in ‘Annie’ stage return
- The New York Times is suing OpenAI over copyright breaches, here's what you need to know
- How to split screen in Mac: Multitask and amp productivity with this easy hack.
- Out of office? Not likely. More than half of Americans worked while on vacation in 2023
Recommendation
Cincinnati Bengals quarterback Joe Burrow owns a $3 million Batmobile Tumbler
Powerball grows to $760 million ahead of the Dec. 27 drawing. See winning numbers
An ‘almost naked’ party of Russian elites brings on jail time, a lawsuit and apologies
Gypsy Rose Blanchard Released From Prison After Serving 7 Years for Her Mom's Murder
Rylee Arnold Shares a Long
Stock market today: Stocks edge higher in muted holiday trading on Wall Street
Mbongeni Ngema, South African playwright and creator of ‘Sarafina!’, is killed in a car crash at 68
Russia unleashes one of the year’s biggest aerial barrages against Ukrainian targets