AffordableCollegesOnline.org (ACO) has released its “Million Dollar ROI” rankings for 2013, a new list of public universities whose graduates out-earn non-degree holders by at least one million dollars during their careers. NJIT has been ranked sixth out of sixteen institutions on the list that make up the top 1 percent of U.S. colleges as measured by return on investment (ROI).NJIT spokesperson Matthew Golden states, "NJIT graduates are both talented and driven to achieve career success. As students at NJIT they become well versed in the application of cutting-edge technologies and hone the critical thinking skills necessary to solve complex problems. Those are the primary reasons why they are so desirable and successful in the professional marketplace."
“It’s important to recognize these are public universities that require a lower upfront tuition investment than their private counterparts, yet still provide students with the skills necessary for a higher paying career,” says ACO founder Dan Schuessler. “ACO is dedicated to promoting affordability, and Ivy League schools are not the only ones with great ROI. These public colleges provide significant value to their students.”
Each school’s return on investment figure derives from a three-tiered calculation: estimated 30-year earnings of graduates minus both projected earnings without a degree and four years of tuition and fees. Key data sources and partners leveraged for the analysis include the following:
• NCES, the primary federal entity for collecting and analyzing data related to education. It provides consistent, reliable, complete, and accurate indicators of education status and trends.
• IPEDS, the primary federal source for data on colleges, universities, and technical and vocational postsecondary schools in the U.S.
• Carnegie Classification, a framework widely used in the study of higher education, both as a way to represent and control for institutional differences, and also in the design of research studies to ensure adequate representation of sampled institutions, students, or faculty.
• Payscale.com, the premier salary data collection organization.
AffordableCollegesOnline.org provides college hopefuls and their parents with information and resources to help them manage the cost of obtaining an education.