Earnings after College Graduation

Hey everyone, I recently saw a Wall Street Journal article that discussed what college graduates make the most. Does anyone know how they collect that information? Is it accurate, and does it consider different majors and their earning potentials? Would love all the advice you can give on this.

The Wall Street Journal, and other publications that produce similar lists, typically gather information on graduate earnings from a variety of sources. These may include public data from government sources (like Federal Student Aid data or U.S. Census data), surveys administered by colleges and universities to their alumni, or from third-party survey companies.

The methodologies employed can vary significantly, so it's worth looking into a publication's specific process if you're interested. Some reports might use the median salary one year after graduation as their main metric, while others might look at the average salary over a number of years. It's also important to consider that these lists usually present overall averages for colleges, and not for specific majors.

As for accuracy, it's complicated. While these forums try to be as comprehensive and careful as possible with their data gathering and analysis, there can be various factors that may introduce errors. For example, survey response rates can be quite low, and the respondents might not represent the entire graduating class. Additionally, self-reported data may contain inaccuracies or exaggerations.

Lastly, regarding majors and their earning potentials, while these college-wide reports do not always account for different fields of study, they sometimes do provide a breakdown by major. However, for more detailed analyses of earnings by major, the Georgetown University Center on Education and the Workforce produces regular reports. This center's data reveals, unsurprisingly, that certain majors tend to lead to higher earnings than others. For example, STEM majors tend to out-earn their humanities counterparts.

All in all, consider these earnings reports as one of the many tools in your arsenal when choosing a college, but remember they may not provide a complete picture about a school or major's worth. It's just as important to consider fit, academics, extracurricular opportunities, and how well the school will prepare you for your chosen career or future studies.