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There seems to be a major issue with cost-of-living adjustments as well. Several rather obscure California colleges are highly ranked, and I assume this is bec

There seems to be a major issue with cost-of-living adjustments as well. Several rather obscure California colleges are highly ranked, and I assume this is because both wages and costs are higher in California, where many of their graduates stay after college.

wtvanhest 11y ago
Absolutely. Cost of living in an area will have a massive impact on exit salaries. The economist did not realize that the South and Mid-west have the lowest cost of living when they wrote the following: > Its upper tiers are dominated by colleges that emphasise engineering (such as Worcester Polytechnic) and attract students with high SAT scores (like Stanford). The lower extreme is populated by religious and art-focused colleges, particularly those in the south and Midwest. This number represents the benchmark against which we subsequently compare each college’s alumni earnings to produce the rankings.
dj_axl 11y ago
> There seems to be a major issue with cost-of-living adjustments Yep yep. Otis College of Art and Design "overperforming" for $42k salary is ridiculous. The title Junior Graphic Designer pays around $40k* in Los Angeles, where Otis is located. Therefore, the average for graduates is as-expected. *Source: Glassdoor.
rconti 11y ago
I'm not so sure. My generally-highly-regarded college in California (bay area, no less!) is almost bang-on average ($-33) despite being in a very high cost of living area.
- rconti 11y ago
  To reply to myself, the comments include this mention from "DR" of The Economist: ----- Geography (both city and state) are variables included in our model. Colleges in the Bay Area are not rewarded for the high salaries available there--they have to surpass a higher "bar" of expected earnings. That is why our eighth-ranked college is in West Virginia, and the ninth in Laredo, Texas. ------ Now, I don't know how they compensate for this. Cost of living at the place where the student ends up? Or where they study? If you study in a high cost of living area but move to Podunk, Iowa, your return will be far lower than expected, if they're only controlling for CoL at the college's geographical location. If they control for CoL at the student's new home, then okay.

wtvanhest 11y ago

Absolutely. Cost of living in an area will have a massive impact on exit salaries. The economist did not realize that the South and Mid-west have the lowest cost of living when they wrote the following: > Its upper tiers are dominated by colleges that emphasise engineering (such as Worcester Polytechnic) and attract students with high SAT scores (like Stanford). The lower extreme is populated by religious and art-focused colleges, particularly those in the south and Midwest. This number represents the benchmark against which we subsequently compare each college’s alumni earnings to produce the rankings.

dj_axl 11y ago

> There seems to be a major issue with cost-of-living adjustments Yep yep. Otis College of Art and Design "overperforming" for $42k salary is ridiculous. The title Junior Graphic Designer pays around $40k* in Los Angeles, where Otis is located. Therefore, the average for graduates is as-expected. *Source: Glassdoor.

rconti 11y ago

I'm not so sure. My generally-highly-regarded college in California (bay area, no less!) is almost bang-on average ($-33) despite being in a very high cost of living area.

rconti 11y ago
To reply to myself, the comments include this mention from "DR" of The Economist: ----- Geography (both city and state) are variables included in our model. Colleges in the Bay Area are not rewarded for the high salaries available there--they have to surpass a higher "bar" of expected earnings. That is why our eighth-ranked college is in West Virginia, and the ninth in Laredo, Texas. ------ Now, I don't know how they compensate for this. Cost of living at the place where the student ends up? Or where they study? If you study in a high cost of living area but move to Podunk, Iowa, your return will be far lower than expected, if they're only controlling for CoL at the college's geographical location. If they control for CoL at the student's new home, then okay.