Average 20-year ROI of nearly $670,000 is ninth among nation’s public universities
SAN LUIS OBISPO — A Cal Poly education continues to be one of the best values among the nation’s top schools, PayScale.com announced.
The Learn by Doing university ranks ninth among the nation’s public universities and No. 29 among all institutions for return on tuition investment, according to a new listing from the online salary, benefits and compensation information company.
The list includes the weighted total cost for a graduate based on in-state tuition rates along with the 20-year net return on investment.
For Cal Poly, the total cost is $93,200 (down from last year’s $103,600) and return on investment is $669,800 (up from $611,700 reported in 2014). For non-California residents, the total cost of getting a Cal Poly degree is $138,400.
The 2015 PayScale study looked at 1,223 public, private, religious and secular universities around the nation.
“Cal Poly consistently provides a top-flight education at an affordable price — a degree that continues to pay dividends throughout our students’ careers,” said Cal Poly President Jeffrey D. Armstrong. “This latest PayScale listing is just further proof that we are fulfilling our mission to provide industry with highly sought-after, work- ready graduates.”
Cal Poly dropped two spots from its No. 7 ranking on last year’s PayScale ROI list in the public university category but rose four spots from the No. 33 spot on the overall listing.
Obtaining a university education is an investment — both of time and money — and “some schools are simply doing a better job of setting their alumni up for success in the job market,” PayScale said in releasing its annual update. “Whether you're planning to study computer science or psychology, earning potential in your chosen field, along with the cost of attendance for the schools you're considering, should be part of the equation when whittling down your list of best return on investment colleges,” the report said.
Cal Poly was rated 12th as a best value for computer science majors who can expect nearly $1 million ($989,800) over 20 years — highest among all Cal Poly degree holders — on an investment of $93,200. For non-California residents, that figure is $574,600 (No. 36) at a cost of $138,400.
For engineering majors, the 20-year return on investment is $809,800 (No. 40) and $764,600 (No. 60) for out-of-state residents. And business majors see a high return on their investment, according to the study: $619,800 (No. 20) over 20 years and $574,600 (No. 36) for non-residents. For science majors, Cal Poly ranked 26th with net earnings of $329,800. For non-residents, the university cracked the top 50 with $284,600 (No. 49).
Art majors can have a promising return on investment, the study found. Cal Poly art students’ ROI was $399,800 — third best in the nation — while non-residents just missed breaking into the top five at $354,600 over 20 years, sixth best in the U.S. Cal Poly humanities degrees also ranked highly. Majors such as English, literature, history, foreign languages, philosophy and others are ranked sixth best in the U.S. with a 20-year return of $329,800. For non-California residents, the ROI was $284,600 (No. 13.)
For more information and to see the list, visit: http://www.payscale.com/college-roi/.