Tag: ROI

Tech in top 10 for ROI among Midwest schools

MTU graduates Rosanna Chopp and Willow Carmody at this year's commencement ceremony.

What’s a university education worth? That’s a question often asked by students, parents and legislators.

According to 2013 rankings recently released by PayScale, Michigan Tech graduates rank 18th in the nation among 437 public universities in the return on investment (ROI) from their degrees. PayScale is a website that compares the cost of a college education to the salaries earned by graduates.

PayScale ranked Michigan Tech in the top 10 for ROI among Midwest schools. ROI is defined as the cost of attending college compared to the gain in income over thirty years of a college graduate over a high school graduate.

This year Tech ranked 77th among all 1,511 public and private colleges and universities evaluated by the website. Michigan Tech’s ranking in PayScale’s annual report rose from 102 among all universities and 44 among public universities last year.

“This is impressive,” said President Glenn Mroz. “It validates what we believe here at Michigan Tech, that we are truly preparing our students to take their place as well-educated citizens, to get jobs, earn good salaries and create the future.”

The report listed the typical starting salary of a Michigan Tech graduate at $56,000 and the thirty-year net ROI at $999,300.

In an interview on “The Daily Ticker” on the Yahoo Finance website this week, former Secretary of Education William Bennett said that the ROI is positive only for about 150 of the nation’s 3,500 institutions of higher learning. Michigan Tech is one of those 150. Bennett analyzed the ROI of colleges and universities for his book, Is College Worth It?

This article was written by UMC public relations director, Jennifer Donovan, for Tech Today.

Michigan Tech Packs an ROI Punch

Michigan Tech ranked third in Michigan, based on ROI study done by Payscale.
Michigan Tech ranked third in Michigan, based on ROI study done by Payscale.

Michigan Technological University appeared in the top picks for a study done on the return on investment (ROI) of college education in Bloomberg Businessweek. In an effort to measure the value of a college degree, Payscale, a company that provides free salary reports based on job title, location, education, skills and experience, dug into over 1.4 million salary reports from individuals who used its online pay-comparison tools and calculated a 30-year net ROI for more than 500 schools.

According to the article, titled Best Bargain Colleges by Louis Lavelle on Bloomberg Businessweek, “It [ROI] represents the amount earned by graduates of each school beyond what a typical high school graduate would have earned, after deducting the cost of their education and taking into account the school’s six-year graduation rate.”

Michigan Tech ranked third compared to Michigan based institutions behind University of Michigan and Kettering University. According to the study, within the three-state area (Michigan, Minnesota, and Wisconsin) Michigan Tech has the second highest ROI of all public universities, for both in-state and out-of-state attendees. Overall the article ranked Michigan Tech 123 and 137 nationwide for both in-state and out-of-state ROI, respectively.

“Considering the cost of higher education, this information is very important when considering the college or university that will provide the best educational value for your future career,” said Dean Radson of the School of Business and Economics. “This supports what our alumni have said about the value of their Michigan Tech education.”