The Answer to the Ultimate Question of Life, Your IIT Degree, and Salary: 42

PayScale, Inc. announced its 2013 College Return on Investment (ROI) Report last week, examining the return on investment at 1060 colleges and universities based on an analysis of PayScale’s 40 million career profiles.  Illinois Institute of Technology ranks #42 among all U.S. universities in return on investment for graduates for 30 years following graduation, and #5 among Midwest universities.  The survey found the average IIT bachelor’s degree holder with no other advanced degrees can expect a $1,127,000 return on their investment and a $1,240,000 ROI when considering average financial aid assistance at the university.*  This represents a significant jump from the rankings last year, when IIT placed at #100.

“While the stock market moves to some of its all-time highs, the overall economy continues at an uneven pace.  Most consumer issues seem to have a pocketbook component and possibly no issue strikes the pocketbook more than higher education and its rising tuition. In this uncertain economic climate, understanding the potential return on the investment in education is vital,” said Katie Bardaro, Lead Economist, PayScale.

* 30-Year Return on Investment figures calculated using 2012 dollars

** Headline explained here