Hoboken, N.J. – PayScale’s 2014 College ROI Report has once again ranked Stevens Institute of Technology as a top university for return on investment for students. At #5 in the nation, Stevens maintains its elite status with other universities, placing ahead of Princeton, Dartmouth and Harvard universities. This year’s report, which looks at 20-year ROI, ranks more than 1,300 institutions based on total out-of-pocket costs (taking financial aid into consideration) and alumni earnings. When narrowed down to schools offering engineering, Stevens moves up even higher to #4. Taking financial aid out of the equation and looking just at "sticker price," Stevens ranks ninth in the nation.
“As families, prospective students and even government agencies pay greater attention to outcomes of a college education, it is clear that technologically-based degrees offer great value in the marketplace,” said Stevens President Nariman Farvardin. “Over many generations, Stevens graduates have made substantial contributions in industry and in society. These PayScale rankings demonstrate that Stevens graduates do exceedingly well in their careers.”
In September, Stevens ranked third among colleges and universities nationwide for mid-career salary, according to PayScale’s 2013-2014 College Salary Report.
The September report also lists the typical starting salary of Stevens graduates is $64,900, tied for 9th in the nation and 7th among private not-for-profit universities. At mid-career, a statistic PayScale defines as at least 10 years post-graduation, the average salary of Stevens graduates is a hefty $124,000.
“Stevens students fare exceptionally well after graduation in part because of the combination of classroom education, mentorship and real-world experience they gain here,” said Lynn Insley, director of career development at Stevens. “Employers recognize the value our graduates add to their organizations, and return to Stevens to recruit our students year after year. As stated in the Stevens Class of 2013 Outcomes Report, 94% of graduates of the Class of 2013 had secured jobs or enrolled in graduate programs within six months of graduation, with 88% of all graduates reporting."
Stevens—the first school of mechanical engineering in the nation—also tied for 13th on the list of Best Schools for Engineering Majors. And Stevens ranks first among Northeast schools and second among research universities for salary potential.
Situated in Hoboken, N.J., just minutes from Manhattan, the university offers unsurpassed opportunities for students to gain real-world work experience through internships and cooperative education offerings with its vast network of partner employers, including some of the world’s most renowned corporations. Stevens graduates are talented and broadly educated innovators who have built countless technology companies, introduced new products to the market and held leadership positions in academia, government and industry.
Learn more about the Stevens difference at http://www.stevens.edu/sit/roi.
About Stevens Institute of Technology
Stevens Institute of Technology, The Innovation University®, is a premier, private research university situated in Hoboken, N.J. overlooking the Manhattan skyline. Founded in 1870, technological innovation has been the hallmark and legacy of Stevens’ education and research programs for more than 140 years. Within the university’s three schools and one college, more than 6,100 undergraduate and graduate students collaborate with more than 350 faculty members in an interdisciplinary, student-centric, entrepreneurial environment to advance the frontiers of science and leverage technology to confront global challenges. Stevens is home to three national research centers of excellence, as well as joint research programs focused on critical industries such as healthcare, energy, finance, defense, STEM education and coastal sustainability. The university is consistently ranked among the nation’s elite for return on investment for students, career services programs and mid-career salaries of alumni. Stevens is in the midst of a 10-year strategic plan, The Future. Ours to Create., designed to further extend the Stevens legacy to create a forward-looking and far-reaching institution with global impact.