Does your college affect your income?
Continuing our Financial Literacy series for the month of April, we’ve decided to look into the return on investment for college degrees. The National Center for Education Statistics (NCES) tracks the number of bachelor’s degrees earned in each category. The top ten degrees from the previous school year were in:
- Business
- Health
- Social science
- Psychology
- Biological and biomedical sciences
- Engineering
- Visual and Performing Arts
- Education
- Communication, Journalism
- Computer and Information Sciences
We used the IonMatch tool to research the return on your investment for attending prestigious schools versus more affordable schools. We compared three schools of varying costs for each degree type.
Based on our research, graduating with a business or liberal arts degrees from a prestigious school correlates with a higher income.
For more specialized degrees in fields such as science, technology, and medicine there doesn’t appear to be a large significance between the cost of the school and the income after graduation.
