In Bloomberg Businessweek’s third annual ranking of the best colleges for return on investment (ROI), “What’s Your College Degree Worth?,” Stevens Institute of Technology’s ROI is 23rd in the nation.
The study is based upon PayScale.com, which uses self-reported salary data from alumni of more than 850 nationwide colleges and universities obtained through its online survey tools. The ROI ranking reflects what incoming students can reasonably expect from their investment in pursuing a college degree from a certain school. It represents the typical earnings of a graduate over a 30-year period, after deducting the net cost of the degree, which is based on the total “sticker price” minus the average financial aid award and adjusted for six-year graduation rate.
The 2012 report finds that average ROI across all surveyed colleges nationally decreased since 2011, reflecting sinking salaries in a tough economy and the rising cost of higher education. However, ROI for Stevens students remains at the front of the pack.
In addition, Stevens ranks eighth in ROI and fourth in ROI for graduates out of 18 metro area schools, and its graduation rate is the highest among the group. In its classification of “Private Research Universities, Engineering,” Stevens is fifth among all schools nationally.
Stevens’ leading ROI in part reflects national trends. In the 2012 report, private schools easily surpassed public schools in ROI. In addition, engineering schools averaged more than double the ROI for liberal arts schools, triple that of business schools, and more than 26 times that of arts and design schools.
Stevens students have outpaced the national average year after year in both placement rates and job outcomes, benefitting from exceptional academic programs, world-class research experiences and unique experiential learning opportunities that prepare them to become leaders in their chosen fields.
“Between our highly-competitive academic environment, market-relevant internship opportunities, nurturing and supportive campus, and prime location minutes from Manhattan, Stevens students have everything they need to achieve personal, professional and financial success,” said Maureen Weatherall, vice president of university enrollment and administration.
Employers continue to value the quality and reputation of a Stevens education, with members of the Class of 2012 having already accepted offers from well-known companies such as Deloitte, DuPont, Goldman Sachs, Honeywell, Johnson & Johnson, JPMorgan Chase, UBS and United Technologies.
“Few universities can match Stevens in terms of job placement, a testament to the rigorous academic background of our students and the professional work experiences so many obtain in the most in-demand fields, well before graduation,” said Lynn Insley, director of career development.