Top 10 Best Colleges for High Earnings You May Not Know About That Aren’t Harvard or Yale

Many factors decide how much cash you’ll gain after college. However, where you go to school might also be important. If your goal after college is to earn the highest possible salary, the California Institute of Technology might be the most ideal choice, as per a new New York Times ranking tool. The tool permits you to rank colleges in light of your own priorities, whether that is post-graduate earnings, net price, campus safety, or more.

The Times based the tool’s rankings on data from the Department of Education. In particular, they looked at the median income in 2020 among students who attended the schools ten years ago and received federal aid, regardless of whether or not they graduated.

After a decade of attending Caltech, graduates have a median income of $112,166, making them the highest earners among the nearly 900 colleges ranked.

Only two Ivy League schools, which are well-known not only for having the highest academic rankings but also for producing a large number of high-earner graduates, make the top 10 for the highest median incomes.

The best colleges for high earnings

According to data from the Labor Department, at the end of 2022, the median annual income for all full-time workers aged 25 to 34 — around the age range of those who would have started college 10 years ago — was $52,832.

Those who complete their education earn significantly more than those who do not. According to the National Center for Education Statistics, bachelor’s degree holders between the ages of 25 and 34 had a median annual income of $59,600 in 2020, compared to $36,600 for those in the same age group who had only completed high school.

Naturally, your earnings can also be influenced by the field in which you major and the job you can get after college.

However, it appears that attending a prestigious college or university pays off. The five colleges with the highest-paid former students all have median incomes above $100,000.

According to the New York Times analysis, the 10 schools with the highest earnings for former students are as follows:

1. California Institute of Technology

Median income 10 years after attendance: $112,166
Median debt among graduates: $17,747

2. Massachusetts Institute of Technology

Median income 10 years after attendance: $111,222
Median debt among graduates: $13,418

3. Harvey Mudd College

Median income 10 years after attendance: $108,988
Median debt among graduates: $22,089

4. Bentley University

Median income 10 years after attendance: $107,974
Median debt among graduates: $25,000

5. University of Pennsylvania

Median income 10 years after attendance: $103,246
Median debt among graduates: $16,763

6. Carnegie Mellon University

Median income 10 years after attendance: $99,998
Median debt among graduates: $22,014

7. Stevens Institute of Technology

Median income 10 years after attendance: $98,159
Median debt among graduates: $27,000

8. Stanford University

Median income 10 years after attendance: $97,798
Median debt among graduates: $12,000

9. Georgetown University

Median income 10 years after attendance: $96,375
Median debt among graduates: $16,500

10. Princeton University

Median income 10 years after attendance: $95,689
Median debt among graduates: $10,450

The inclusion of several technical colleges on the list shouldn’t come as too much of a surprise. These schools focus on vocational and job-specific training, particularly in STEM (science, technology, engineering, and mathematics), which are also the highest-paying majors in higher education.

The best college for you

When choosing a college, there are a lot of other things to think about, such as location, available majors, athletic programs, and more, in addition to the best financial outcome.

You can use a variety of holistic or factor-specific rankings to determine which schools are best for you. The tool from the New York Times is useful because it lets you prioritize a variety of different factors to create a ranking that is specific to your preferences.

A key component for many: is the price of attendance Despite their high tuition costs, some schools may advertise high earnings for former students. However, this should not necessarily prevent you from attending your ideal school. Scholarships and other forms of financial aid can help you save money on tuition and even keep you from taking out loans.

Make sure to look at all of the different prices when evaluating the cost of college. While the net price is the amount you’ll pay after taking into account any grants, scholarships, or other forms of financial aid, the sticker price is typically what the school claims to charge students for tuition and fees.

For example, Princeton has a sticker price of $78,490, but its average net price, or cost of attendance, is only $9,836, thanks to the financial aid it provides to students.

Additionally, keep in mind: There are no guarantees that you will get a job right out of school or that it will pay as much as you hope, even if your school of choice reports that former students earn a lot of money.