Miami University ranks ninth in the nation when it comes to return on (tuition) investment, according to a just-released SmartMoney magazine survey.
The magazine ranked 50 universities, showing which alumni received the best salary return for what they paid in tuition. Public universities ranked above Ivy League and other private colleges.
Using year-old data from PayScale, a Seattle-based compensation-data company that maintains salary profiles of 29 million workers, SmartMoney “collected median pay figures for two pools of each school’s alums: recent grads (who have been out of school for an average of two years, class of 2009) and midcareer alumni (an average of 15 years out, class of 1996).”
For each class, SmartMoney divided the median alumnus salary by tuition and fees (assuming they paid full price at then-current rates), averaged the results and converted that result to a percentage figure.
SmartMoney named the outcome the “Payback Score.” They examined 50 schools with high tuitions: eight Ivy League schools and more than 40 other private and public universities (based on their out-of-state tuition charges and not factoring in financial aid).
Miami University alumni out of school for two years earned an average median salary of $45,800 and those alumni out of school for 15 years reported earning an average median salary of $91,400, according to the survey.
Some Miami alumni who are capitalizing on their education are featured on Miami's website. Read about Miami's notable alumni online.
SmartMoney’s survey is one of several national rankings that recognizes the value of a Miami education. With median time to a degree at 3.7 years, Miami has one of the highest graduation rates among national public universities.