Gifted Issues Discussion homepage Forums General Discussion Do Elite Colleges Lead to Higher Salaries?

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Diplomas from prestigious schools boost future earnings only in certain fields, while in other fields they simply don’t make a difference.

Specifically, for business and other liberal-arts majors, the prestige of the school has a major impact on future earnings expectations. But for fields like science, technology, education and math, it largely doesn’t matter whether students go to a prestigious, expensive school or a low-priced one—expected earnings turn out the same. So, families may be wasting money by chasing an expensive diploma in those fields.

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Outside of STEM, it matters tremendously where a student receives a degree.

The starkest earnings differences are for business majors, where graduates from the selective institutions earn 12% more on average than midtier graduates and 18% more than graduates from less-selective colleges. Likewise, social-science majors from selective colleges earn 11% more than their midtier counterparts and 14% more than those from less-selective schools.

For education majors, the differences are 6% and 9%, respectively. In humanities, graduates of selective schools earn 11% more than those from less-selective ones, although they don’t earn more than those from midtier schools.