Georgetown research: CSB, SJU among national leaders for yielding highest salaries of former students
December 16, 2015
New research conducted by the Georgetown University Center on Education and the Workforce lists the College of Saint Benedict and Saint John's University among the national leaders for schools yielding the highest salaries of former students. This research was cited recently in a PBS "NewsHour" story.
"Ranking Your College: Where You Go and What You Make" provides students and families with a list of colleges with the highest earnings potential. Researchers at Georgetown conducted three rankings, based on earnings 10 years after students began their studies.
- The first ranking focused purely on earnings.
- The second adjusted for choice of major or program, since field of study has "a huge effect on earnings potential," the researchers' said.
- The third accounted for earnings, choice of major, students' academic preparation and likelihood of graduate degree attainment. "Graduate degrees lead to 28 percent higher earnings than bachelor's degrees alone," the researchers' said.
SJU (No. 12) and CSB (No. 33) were the highest ranked colleges in Minnesota in earnings adjusted for academic preparation and likelihood of attaining a graduate degree.
According to the report, SJU students earned $55,900 annually 10 years after initially enrolling in college, earning $13,200 more than would be expected based on their level of academic preparation and their likelihood of eventually earning a graduate degree. SJU was ranked No. 12 among all four-year colleges and universities nationally relative to what they would be expected to earn.
CSB students earned $47,600 annually 10 years after initially enrolling in college, earning $11,100 more than would be expected based on their level of academic preparation and their likelihood of eventually earning a graduate degree. CSB was ranked No. 33 among all four-year colleges and universities nationally relative to what they would be expected to earn.
The report relied on data from the U.S. Department of Education's College Scoreboard. Students who applied for financial aid were matched to their tax returns 10 years after initially filing for financial aid. The median earnings for these students were matched to the university for which they sought financial aid. In addition, data was restricted to bachelor's degree-granting institutions and excluded special focus institutions and tribal colleges.