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College Degrees: Prestige vs. Paycheck
2 Nov
Summary
- Some lesser-known schools produce graduates earning six figures.
- Juilliard music grads earn less than typical high school grads.
- AI is impacting computer science enrollment and career prospects.
The current job market presents challenges for college graduates, compounded by artificial intelligence reshaping employment landscapes. A recent analysis reveals significant earning disparities, where graduates from less prominent universities can achieve six-figure incomes, while some from highly esteemed institutions earn less than the average high school graduate.
This analysis, covering nearly 25,000 bachelor's programs, used federal tax records to track earnings four years post-graduation for the 2017-18 and 2018-19 cohorts. While top earners included Duke mathematics and Carnegie Mellon computer science graduates, programs like nursing at San Francisco State University also ranked highly.
Remarkably, graduates from prestigious performing arts school Juilliard earned less than the typical high school graduate. This raises questions about the value of a prestigious name versus cost, especially as AI alters required job skills. The trend is also reflected in declining computer science enrollment, with students potentially reconsidering the financial future of this field.
Even majors outside of STEM, such as English and sociology, showed median earnings significantly above those of high school graduates. While the analysis focuses on immediate post-graduation earnings, advanced degrees continue to offer substantial lifetime earning advantages.
