Thursday, August 20, 2009

College and Salary: "With Whom" You Study Matters as Much as "What" You Study

The topic of how attending a "good college" relates to getting a "good job" came up in a recent conversation I was having with my high school-aged son, whom I am encouraging to give serious consideration to both what he enjoys doing and what type of lifestyle he wants to have after he graduates from college.

Using the popular U.S. News & World Report ranking of universities and salary data from Payscale.com, we can take a look at the correlation between university attended and resulting mid-career median salary. The table below shows the top 30 U.S. universities and the mid-career median salary of their graduates.



As might be expected, Ivy League schools (Harvard, Princeton, Yale, University of Pennsylvania, Columbia, Dartmouth, Cornell and Brown) figure prominently on the list, along with the well-known science and engineering schools (Caltech, MIT) and the so-called non-Ivy Ivies (Stanford, University of Chicago, Duke, etc.).

The relationship between university attended and salary can be seen in the graph below.



The regression line is:

Mid-Career Median Salary = $121,400 - $900 x (Ranking of University Attended),

giving a decrement of about $9,000 in annual salary for each 10 spots in university ranking. For example, a graduate of a university with a ranking of about 5 might expect to have a mid-career salary of about $9,000 more per year than a graduate of a university with a ranking of about 15. The numbers actually show more scatter and skew than is captured by the linear regression, as evident in the following examples of ranking-university-salary:

4. Caltech, $115,000
5. MIT, $126,000
6. Stanford, $124,000

14. Johns Hopkins, $94,900
15. Cornell, $106,000
16. Brown, $107,000

24. UCLA, $97,000
25. University of Virginia, $97,200
26. USC, $103,000.

The general trend of higher ranking (smaller number) correlated to higher salary (correlation of .63) is clear. While there are, of course, many individual exceptions to the rule, one of the tell-tale indicators for predicting lifetime earnings and net worth is the college one attends.

As I tell my son, the college one attends (i.e., with whom one studies) is just as important as what one studies in college. Choice of a college typically has a lifelong impact on one's social circle, which in turn often influences whom one does business with throughout one's career.

53 Comments:

Anonymous investment said...

Link exchange with me...and i thinks is good information..

2:00 AM, August 27, 2009  
Anonymous Wealth management said...

It is a well know fact that studying from Ivy leagues for example leads to much better starting salaries no matter what your industry is. Yes it does matter where you graduate from, maybe more than what it should.

9:37 AM, August 27, 2009  
Anonymous Anonymous said...

酒店上班

酒店兼職

台北酒店

打工兼差

酒店工作

酒店經紀

禮服店

酒店兼差

酒店打工

酒店PT

酒店正職

酒店賺錢

酒店日領

1:37 AM, September 22, 2009  
Blogger marry said...

Blogs are so informative where we get lots of information on any topic. Nice job keep it up!!
_____________________________

MBA dissertation

6:12 AM, September 26, 2009  
Anonymous Bobby said...

While I'd always suspected as much, I've never seen the hard data. Would nice to see the correlation between increased income versus the higher tuition costs.

9:40 AM, October 03, 2009  
Blogger TSR.ARIJIT said...

MAX PROFITS TRADING JUST STOCK FUTS ,NOTHING ELSE..!!

http://www.niftyviews.com/

Hi Friends,we have high success rate in Intraday stock calls,our testimonial is our clients with whom you can chat online in our live chat.


We dont just trade, we create wealth.

Every small and big investors can make money through our nifty calls, trade from 1 to 10 lots to get huge profits consistently.
We top it up with attractive rates which you will make up by just trading 1 day.

Yes, we are that confident of our calls.

Come online to our 24hrs free chatroom where 200++ members trade together at: www.niftyviews.com
Also check the performance before you suscribe at: http://www.future-friend.blogspot.com/

FOR PROCEDURE TO JOIN US http://groups.google.com/group/STOCKRESEARCHER/web/payment-details


JOIN US ON FACEBOOK : http://www.facebook.com/topic.php?topic=10328&uid=150506088274#/group.php?gid=150506088274

Join Us On TWITTER : http://twitter.com/niftyviews

Join our Google group: http://groups.google.com/group/STOCKRESEARCHER

Add me on orkut for daily updates: http://www.orkut.com/Profile.aspx?uid=1619632468359550031

For free calls on your cell phone
SMS- JOIN Sresearchers and send to 567678
Or SMS ON Sresearchers to 09870807070

1:39 AM, December 03, 2009  
Blogger Kean Peng said...

Looking for short-term investment?
Wanna try as low as $4?
Sound crazy and insane. I wanna tell you are wrong.
I have test this site several times and get my $ back.
Best ever I have seen so far.
chk it out here!
http://www.hugmoney.com/?ref=kptan2006

12:49 AM, February 01, 2010  
Anonymous stock market and investings said...

At a certain point, your school would matter at the point of entry of your employee life. First, because the school gives you the foundation of the skills and competencies that you would need and apply in the job you choose. Second, the name of the school adds to your goodwill. However, the attitude, qualifications and characteristics of the student/applicant would greatly matter over the school. It would not be the school who will become the employee it would be the student right?

2:54 AM, February 04, 2010  
Anonymous LIC OF INDIA said...

Great website I’ve found and very inspiring! Great job!!

2:27 PM, March 24, 2010  
Anonymous lic of india said...

I am Rhea S. I have visited your website and I would like to congratulate you on building such a valuable online resource. I am sure your visitors find your site as useful as I did.

Have a great day.

Thanks and regards,

12:28 PM, March 27, 2010  
Anonymous Josep said...

It is always important to cope with the market growth. check this

1:08 PM, March 31, 2010  
Blogger purity lover said...

I was a fresh graduate and thinking how to gain better employment when my friend introduced me Purity 12. She was already doing good business with their products and had asked me to try one of their well known moisturizers. The products were really cool and effective! Since I loved the products so much I decided to engage myself with Purity 12's family. After a few months, I realized that this is the best employment that I could ever have because I’m running my own business! Try it! Learn More

7:47 AM, October 15, 2010  
Anonymous share trading said...

I appreciate your time and effort which you have spent to write the best useful blog and i really want to thank to you for creating the blog.

5:59 AM, October 18, 2010  
Anonymous ian said...

Thanks for the informative post and for actually replying to your readers’ comments. That’s something I don’t see very many blog owners doing and that makes me frustrated. Keep up the good work and I’ll continue coming back here to learn more....
Nice job!, You certainly are giving your visitors a lot of precious info. This blog will be a hit!

12:40 AM, October 19, 2010  
Anonymous Vengaworks said...

I believe that study does matters with whom we are doing that.

8:24 AM, January 06, 2011  
Anonymous Switzer share investment advice said...

I think that choosing a college is something that you need to think about. It does give you benefit by just the name of the institute. Thanks for sharing

10:32 PM, February 22, 2011  
Anonymous Las Vegas Foreclosures said...

well said.. i'll probably consider this..

11:12 AM, May 04, 2011  
Anonymous share tips said...

Thanks so much for this! I haven't been this moved by a blog for a long time! You’ve got it, whatever that means in blogging. Anyway, You are definitely someone that has something to say that people need to hear. Keep up the good work. Keep on inspiring the people!
regards:
Share Tips

7:01 AM, May 18, 2011  
Anonymous Foreclosures said...

Hope I can get more info. Great blog, I really enjoyed this post.

12:17 PM, June 13, 2011  
Anonymous share tips said...

I absolutely adore reading your blog posts, the variety of writing is smashing.This blog as usual was educational, I have had to bookmark your site and subscribe to your feed in ifeed. Your theme looks lovely.Thanks for sharing.
Regards
Share Tips

7:47 PM, June 13, 2011  
Anonymous share tips said...

I absolutely adore reading your blog posts, the variety of writing is smashing.This blog as usual was educational, I have had to bookmark your site and subscribe to your feed in ifeed. Your theme looks lovely.Thanks for sharing.
Regards
Share Tips

7:48 PM, June 13, 2011  
Anonymous james moylan said...

I have a web site where I give advise on penny stocks and stocks under five dollars. I have many years of experience with these type of stocks. If their is anyone that is interested in these type of stocks you can check out my web site by just clicking my name. I would like to comment about the average salaries that students from Ivy league schools earn compared to non Ivy league schools. This is an elitist system although their are many talented students from Ivy league schools their are also many talented students from non Ivy league schools yet anyone that graduates from one of these schools gets a ticket to a top job. What I would love to see for example is the bottom 10% of the graduating class of harvard yale and princeton and compare their salaries to the top 10% of the gratuating class of the non Ivy league schools that are considered very good but maybe just below Ivy league level. Now compare their salaries and see if the Ivy leaguers in the bottom 10% of their class still make more money than the non Ivy leaguers that graduated in the top 10% of their class. If they do this proves what I said in the beginning of my comment. Its an elitist system.

8:38 PM, July 16, 2011  
Anonymous syed said...

Has any one tried this
https://www.borntosell.com/portfolio

Know if it works ?

9:45 AM, July 19, 2011  
Anonymous ayala land premier said...

Eton Properties

SM condo

1:10 AM, October 26, 2011  
Anonymous Penny stock newsletter said...

I have a web site where I give advise on penny stocks and stocks under five dollars. I have many many years of experience with these type of stocks. I would like to take a moment to talk about low price stocks not classic penny stocks or stocks under one dollar the term most people most often think of when the word penny stock is used. Their are companies of really decent quality trading under five dollars’ but for every one company trading under five dollars that is of decent quality their are maybe ten of poor quality. So the really big difference between those investors that are tremendously successfull when it comes to investing in low price stocks and those investors that lose enormous amounts of money investing in stocks under five dollars’ is having a great deal of knowledge and experience when it comes to low price stocks’ or having a total lack of knowledge and experience when it comes to low price stocks. Finding quality stocks under five dollars requires a lot more research than finding a decent stock above ten dollars.

9:12 PM, October 29, 2011  
Anonymous gold american eagles said...

gold american eagles

12:17 PM, December 13, 2011  
Anonymous Journalism Dissertation Help said...

António Horta-Osório, the chief executive of Lloyds Banking Group , is to take a break from the role while he recovers from “extreme fatigue”. Tim Tookey, the Lloyds finance director who leaves next February to join Friends Life, is to replace him.

Journalism Writers


Journalism Dissertations


Journalism writer


journalism thesis


uk journalism topics


journalism dissertation topics


media dissertation


dissertation help</

7:22 PM, December 13, 2011  
Anonymous Dissertation Help India said...

So, more than ever, it is also about behaving like a shareholder and handling corporate governance decisions, such as pay and bonuses. It casts the votes on behalf of taxpayers at annual meetings


Dissertation Help


Dissertation Topics


Dissertation writers from india


uk

dissertations



spss dissertation help


dissertation india


dissertation samples


dissertation help india

5:15 AM, December 14, 2011  
Blogger Unknown said...

Hi, I came across your site and wasn’t able to get an email address to contact you. Would you please consider adding a link to my website on your page. Please email me back.

Thanks!

Harry
harry.roger10@gmail.com

12:10 AM, December 27, 2011  
Blogger alina said...

Well this one really informative specially for the young generation

Thanks!!

mutual fund & Tax

10:23 AM, February 06, 2012  
Blogger Technician 101 said...

The records show that it has improved to an average of $26,000 in the year 2006 and has become $28,500 in the 2010. Other factors that affect the yearly paycheck of a medical assistant are work experience, employer type and education.
Average salary of Medical Assistant in West Virginia

1:14 AM, July 04, 2012  
Blogger Kunaal Gupta said...

As I read your artices very nice to gain some benificial topics on Investment. Get offer if your desire to invest in Bhiwadi located in Rajasthan.

11:22 PM, May 17, 2013  
Blogger INTRDAYTIPS said...

ou have done an excellent job, Keep it up .Thanaks for sharing

website for day traders http://www.intradaytips.com
FOR MORE BLOG LIKE THIS http://intradaytipscom.blogspot.in

Intraday tips for day traders. Our Nse tip work in 60 minute. for free trial visit: whttp://www.intradaytips.com
or send sms TRIAL TO 56767 or TRIAL TO 98 70 80 1717

9:38 PM, June 10, 2013  
Blogger sugandha gogia said...

Thanks for sharing this information with us. If anybody wants to invest in Bhiwadi then please check the latest project of Terra group i.e Terra Heritage.

2:52 AM, June 23, 2013  
Blogger Golf said...

Gurgaon is known as cyber city and everyone would like to live in the city. So the rates of property are going to hikes day by day. Every professionals and businessman search for luxury project in Gurgaon and take it for any cost. Now a very growing sector is Bhiwadi- The area near by gurgaon is very popular about real estate and property for buying and selling by the real estate agencies to earn profit. It's located at Rajasthan NH-8.

4:52 AM, July 17, 2013  
Blogger smith bhagvan said...

So that it receives worldwide benefit in world market. Although arriving at company giants , there are numerous studies on the products that can be bought online by these types of companies like which are the pursuits that buyers are attached to .
medical assistant salary in alaska

3:53 AM, August 21, 2013  
Blogger Sugandha Gogia said...

We have a new soft launch project in Gurgaon for better investment i.e ATS Marigold

2:09 AM, August 22, 2013  
Blogger Hometrust realty pvt. ltd. said...

If you want to invest in Gurgaon then satya new project i.e Satya Element One and Elan new project i.e Elan Mercado are the best projects.

2:40 AM, September 14, 2013  
Blogger Sandeep Swami said...

Investing in Elan Mercado Gurgaon can provide you high returns. Elan Gurgaon is the best commercial project for investment in Gurgaon

10:40 PM, September 14, 2013  
Blogger Diya Ahuja said...

We also have a option of investment in Gurgaon. Assotech Breeze is new soft launch project in Gurgaon which is a best option for investment. Assotech new projects i.e Assotech Breeze is a residential project.

3:27 AM, September 18, 2013  
Anonymous Anonymous said...

Your blog provides me very helpful information. Satya Element One is the new project in Gurgaon for investment purpose. Satya new project can provide you high returns.

2:45 AM, September 28, 2013  
Anonymous Anonymous said...

Nowadays real estate investment is a best option because it will definitely provides you high returns. We have Elan Mercado i.e Elan new project which can also provide you better return.

3:34 AM, September 28, 2013  
Blogger sugandha gogia said...

Thank you for these best investing strategies.. If you want to invest in gurgaon property then Ocus 24k is one of the best project. Ocus Perfect 24k Gurgaon is a soft launch project.

5:32 AM, September 28, 2013  
Blogger Hometrust said...

Spaze is now launching a new commercial project in gurgaon with very affordable price. Starting from 13 lacs. Call Hometrust 9555 39 69 69 and get best discount. Hurry limited units available in this new projects in gurgaon.

3:14 AM, October 14, 2013  
Anonymous Anonymous said...

Spaze Sector 92 Gurgaon is a new launch commercial project with very affordable price. Starting from 13 lacs. Call Hometrust 9555 39 69 69 and get best discount. Hurry limited units available in this new projects in gurgaon.

3:55 AM, October 23, 2013  
Anonymous Moneycontrol said...

Hyderabad-based Dr Reddy's Laboratories surpassed analysts' expectations with consolidated net profit growing 69.4 percent year-on-year to Rs 690.3 crore in three-month period ended September 2013.

Moneycontrol
Moneycontroltips

2:46 AM, October 31, 2013  
Blogger Tina Roy said...

Useful information on stock market is given by blog author. Thanks to blog author which will be beneficial for readers because it has a well written content.

Free intraday tips on mobile

4:44 AM, April 01, 2014  
Blogger Vijay Kumar said...

This is very nice post and have great information. I also have a info about a new project M3M Golf Estate Sector 65, Gurgaon. Find More information of this Project like reviews, prices, payment Plans on Favista.com.M3M Golf Estate Gurgaon

3:29 AM, April 16, 2014  
Blogger Riya Verma said...

AGRI TIPS FOR TODAY
CALL: SELL SYBEANIDR (OCT.) BELOW 3120 TG-3095/3060/3015 SL-3160 (CM 3125)
stock advisory company

4:32 AM, September 10, 2014  
Blogger Mark Wright said...




Do you have a website that I can check with your services? I tried the website.we will learn something more from your thoughts.
cheap essay writing uk

11:19 PM, September 21, 2014  
Anonymous Anonymous said...


Commercial Property at Best Rates in Bhiwadi
visit our site and avail your discount.
www.genesisinfratech.com

12:48 AM, January 30, 2015  
Blogger Sathya G said...

Very nice. Thanks for posting, Icons are the must imported graphic in design world. i find some free icon here.
SEO Company in Chennai

10:01 PM, February 10, 2017  
Blogger Investicare infra said...

we are happy to read your post , its a very nice and more informative. M3M Golf Estate | Golf Apartments Golf Course Road Gurgaon

12:25 AM, September 09, 2017  

Post a Comment

<< Home