University of Texas at Austin alumni get the second-best bang for their buck in the country when comparing the cost of their degree to their average salaries, according to a new ranking released today.
The new “Payback survey” by SmartMoney compared cost of attendance and the median salaries for both recent graduates and mid-career workers and found that UT-Austin alumni have the second-highest payback ratio of any U.S. university.
The Payback Score is an average of those groups’ current income, expressed as a percentage of their sticker-price tuition and fees, according to the SmartMoney site.
The survey notes that college tuition in the United States has doubled since 2001, and UT-Austin’s low cost and high value offers proof that the state’s flagship university is among the nation’s best buys.
The Georgia Institute of Technology ranked first, with a payback ratio of 221. UT-Austin came in second at 194.
According to SmartMoney, the four-year cost in tuition and fees for a 2009 UT-Austin graduate was $91,596. A recent graduate’s median pay is $49,100.
For the UT-Austin class of 1996, the four-year cost was $26,115. Now that cohort’s median salary is $87,500.
UT came in ahead of Florida, Georgia, Illinois, and Clemson, as well as the University of Virginia, Dartmouth, and Harvard.
File photo by Val Cook.
Excellent summation of the state of magazine journalism today. I was privileged ...
I'm a first generation college graduate AND have paid off all my student loans. ...
The inclusion of Texas Tech and Baylor to the Big 12 was Bob Bullock's doing whi...