Seattle, WA (PRWEB) March 26, 2014
PayScale, Inc. today announced its 2014 College Return on Investment (ROI) Report. The report examines the return on investment at 911 colleges and universities.
PayScale has grouped the mix of public and private schools into the following categories: Research Universities; Liberal Arts Schools; Art, Music & Design Schools; Business Schools; Engineering Schools; Ivy League Schools; Party Schools; Sober Schools; Schools for Sports Fans; and Religiously Oriented schools.
The report also shows the difference in ROI between in-state and out-of-state tuition for public universities; for students who receive grant financial aid and those who do not; and for students who live on campus vs. off campus with parents/guardians vs. off campus independently. Additionally, the report provides multiple data visualizations on topics including:
“During a time of both spiraling student debt and tuition rising faster than inflation, post-graduate earnings are a necessary piece of the college decision-making process,” said Katie Bardaro, Lead Economist, PayScale. “Although post-graduate earnings shouldn't be the only consideration when choosing a school, they should certainly play a part, especially when making choices about how much to borrow to fund your education. Students need to know whether they’ll be able to pay off their loans effectively in the context of their chosen field.”
Some highlights from Payscale's 2014 College ROI Report:
For more information on methodology, please go to: http://www.payscale.com/college-roi/c/methodology.
Adds Bardaro: “This year PayScale changed its methodology to calculate a 20 Year ROI rather than a 30 Year ROI. The change was made for this reason: Previous PayScale research has shown that pay, on average, stagnates after age 40 and a 20 Year ROI brings us closer to this stopping point for real pay growth. This methodological change did not significantly alter the rankings but had the overall impact of producing lower ROI figures across the board. For example, Harvey Mudd still tops the list, but with a 20 Year ROI of $980,900 rather than a 30-year ROI of $2,113,000.”
PayScale also announced today the release of the new publication “Examining the Value of a College Degree.”
“As student loan default rates continue to rise, along with the cost of tuition, the value of a college degree has been both called into question and fiercely defended in recent months,” said Lydia Frank, Editorial Director, PayScale. “The Obama administration and U.S. Department of Education are actively working on a college ratings system that could impact federal funding for schools. With so much at stake, an open dialogue is key to moving forward. In the spirit of continuing that dialogue, we asked 12 thought leaders, from college presidents to business executives, to share their perspective.”
Contributors to “Examining the Value of a College Degree” include:
Creator of the largest database of individual compensation profiles in the world containing more than 40 million salary profiles, PayScale, Inc. provides an immediate and precise snapshot of current market salaries to employees and employers through its online tools and software. PayScale's products are powered by innovative search and query algorithms that dynamically acquire, analyze and aggregate compensation information for millions of individuals in real time. Publisher of the quarterly PayScale Index™, PayScale's subscription software products for employers include PayScale MarketRate™ and PayScale Insight™. Among PayScale's 3,000 corporate customers are organizations small and large across industries including Mozilla, The Economist, Tully’s Coffee, Clemson University and the United States Postal Service. For more information, visit http://www.PayScale.com.