Stevens Institute of Technology: New Georgetown Report Ranks Stevens in Top 20 Nationally for ROI
A new report from the Georgetown University Center on Education and the Workforce, “Ranking 4,500 Colleges by ROI (2022),” places Stevens at No. 19 in the nation for return on investment 40 years after enrollment.
According to the study, the net present value for a Stevens degree is $2.047 million at 40 years, a value comparable to that of other prestigious universities, such as Carnegie Mellon University (No. 13), Georgetown University (No. 23), Lehigh University and Columbia University (No. 32). Out of all New Jersey colleges and universities, Stevens ranks behind only Princeton (No. 12) at the 20-, 30- and 40-year marks.
The report uses College Scorecard data to calculate the net present value of a credential from 4,500 colleges, including traditional two-year and four-year public and private colleges, as well as for-profit colleges and training academies. The measure essentially weighs the cost of paying for college against future earnings.
Stevens’ high return on investment is one of the reasons that the school has seen a 214% increase in undergraduate applications from Fall 2011 to Fall 2021 and already has a record number of applications for Fall 2022, even as undergraduate enrollment is down nationally.
“When selecting a college or university, students and their families are focused on the return on the investment they may make in a private education and will heavily weigh the published outcomes of the investment,” says Susan Gross, Stevens’ assistant vice president for enrollment management. “The Georgetown study illustrates how the investment made in a Stevens education continues to grow over the course of a career and has undoubtedly contributed to the growth in applications for our undergraduate programs.”
Year over year, 97 percent of Stevens graduates secure jobs or admission to graduate school within six months of graduation. For the Class of 2021, the average starting salary was $75,400, with salaries for software engineering and computer science majors topping $90,000. After 10 years of experience in a field, Stevens graduates who earned a bachelor’s degree boast a median mid-career salary of $150,900, according to PayScale’s 2021 salary report. According to Payscale’s 2021 ROI report, Stevens alumni also enjoy a 20-year net ROI of $899,000, the highest of all New Jersey schools, with financial aid considered.