3 ms·
As a single datapoint, in 1983 MIT tuition hit $10K -- highest in the nation according to a cartoon in the paper. It's currently $60K (total cost estimated $80
by gumby 3y ago
As a single datapoint, in 1983 MIT tuition hit $10K -- highest in the nation according to a cartoon in the paper. It's currently $60K (total cost estimated $80K) so 7X is about right.
However there's another way to look at it: over the summer I would earn over $10K so roughly covered my tuition. Admittedly that was at the high end of summer job compensation due to the AI boom, but gives you a rough idea of where that tuition fee fit. I finished school with no debt.
These days I doubt anyone is getting $50K for a summer job.
- jeron 3y ago>These days I doubt anyone is getting $50K for a summer job. Enter Citadel: https://fortune.com/2023/06/28/wall-street-citadel-summer-intern-pay/ https://fortune.com/2023/06/28/wall-street-citadel-summer-in...
- gumby 3y agoMore than Google! It's possible some grad students in AI are getting that kind of money these days. I was talking about my undergrad.
- gen220 3y agoBig tech and big-tech-competitive places will generally pay you around $30k pre-tax for a summer job. But of course, most college students don't have access to those jobs at all, let alone for each summer in college.