Saturday, August 09, 2008

An Ivy League Degree Means More Pay on Average

Ivy Leaguers' Big Edge: Starting Pay by Sarah E. Needleman of The Wall Street Journal shares that the median salary of Ivy League graduates is 32% higher than other liberal arts graduates at 10 or more years of working. While the data confirm what many believe, the article questions whether the difference is due to the school or due to the person that chooses to attend.

The article begs the question of whether the cost of an Ivy League education is worth the future income difference. In my experience, while the differences are true on average, the disparity does not necessarily exist on an individual. In my experience as a manager, people with Ivy League degrees on average make more than many of their colleagues with non Ivy League degrees. However, the salary difference is due to advancing further in the company. On the other hand, I've seen many individuals from non Ivy League schools advance further than their Ivy League colleagues, resulting in higher salaries.

My assessment? The biggest factor is probably the individual, and an Ivy League education can help, if one can afford the cost.

For more on Reflections and Musings , check back every Saturday for a new segment.

This is not financial or education advice. Please consult a professional advisor.

Copyright © 2008 Achievement Catalyst, LLC

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