If you want to make a lot of money after college, you might want to consider attending a school that is not in the Ivy League.
According to a new ranking tool from the New York Times, based on data from the Department of Education, the colleges with the highest median income 10 years after attendance are mostly specialized in science, technology, engineering and math (STEM) fields. [1]
The ranking tool allows users to rank colleges based on their own priorities, such as post-grad earnings, net price, campus safety and more. The Times looked at the median income in 2020 among those who attended the schools 10 years ago — regardless of completion — and received federal aid. [1]
The top 10 colleges for high post-grad earnings are:
- California Institute of Technology: $112,166
- Massachusetts Institute of Technology: $111,222
- Harvey Mudd College: $108,988
- Bentley University: $107,974
- University of Pennsylvania: $103,246
- Carnegie Mellon University: $99,998
- Stevens Institute of Technology: $98,159
- Stanford University: $98,000
- Rensselaer Polytechnic Institute: $81,700
- Babson College: $85,500 [2]
These schools have a median income that is nearly twice as high as the average median income for all full-time workers ages 25 to 34, which was $52,832 at the end of 2022, according to the Labor Department. [1]
Some of these schools are also known for their high tuition and fees, which can range from $21,691 at MIT to $58,526 at Rensselaer Polytechnic Institute. However, some of them also offer generous financial aid packages that can lower the net price for students.
For example, Harvard University, which ranked sixth in terms of median income ($87,200), had a net price of $15,742 for students who received federal aid. [2]
The ranking tool also shows that some of the most popular majors at these schools are engineering, computer science, mathematics, business and management. These fields tend to have high demand and high salaries in the job market.
For instance, according to PayScale data, software engineers earn an average salary of $88,000 and computer scientists earn an average salary of $79,000. [1]
However, attending a prestigious or specialized college is not the only factor that determines how much money you’ll earn after graduation.
The field you major in and the job you’re able to get after college can also affect your earnings. Moreover, some experts advise students to consider other aspects of college besides money, such as academic quality, personal fit and social impact. [1]
As one former student of Harvey Mudd College said in a testimonial on the school’s website: “Harvey Mudd prepared me not only for a successful career but also for a successful life.” [4]
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Sources:
[1] Top 10 colleges to attend if you want to make a lot of money—Harvard and Yale didn’t make the list
[2] Top 50 Colleges with the Highest Post-Graduation Salaries
[3] National Universities Where Grads Are Paid Well
[4] Top 10 Colleges to Attend If You Want to Make a Lot of Money—Harvard and Yale Didn’t Make the List