WPI tabbed as one of best values in higher learning, other Worcester schools above average
WORCESTER — According to U.S. News & World Report, if you are a prospective college student looking for the best return on investment, one of the top values in the country can be found right in Worcester.
The newsmagazine, which is well known for its rankings of schools and colleges, tabbed Worcester Polytechnic Institute as providing one of the best values in the country based on return on investment.
According to the ranking, which incorporates studies and data gathered by Georgetown University’s Center on Education and the Workforce, a WPI graduate with a bachelor's degree can expect to get a return on investment of $3.4 million on average over the course of 40 years after graduation. That figure was the 18th best in the country, according to U.S. News & World Report.
"Being ranked in the top 20 for return on investment highlights the lasting value of a WPI education,” WPI President Grace Wang said. “Our students excel at mastering foundational knowledge and skills in their chosen fields, and the value of our project-based education is exceptionally high because it also teaches students how to develop new ideas and builds character, leading to a lifetime of changemaking and leadership.”
That figure placed WPI narrowly ahead of Harvard, and just behind Cornell and Columbia. WPI was the fourth-best value in Massachusetts behind Massachusetts Institute of Technology, Bentley University and Massachusetts Maritime Academy.
The return on investment is a value metric that compares the cost of attendance to a student’s potential future earnings, using data on students’ median earnings and the average net price specific to each college or university. Essentially, the return on investment measures a typical student’s projected earnings at a period in the future and subtracts their total estimated out-of-pocket costs to calculate a value.
WPI reported its Class of 2023 graduates had on average an annual salary of $80,440 six months after graduation.
While U.S. News & World Report only ranked the top 22 colleges and universities, the data from Georgetown contains information on return on investment for over 4,000 schools across the country.
In Worcester County, the College of the Holy Cross offers the second-best return on investment for graduates, with a 40-year return of $2.83 million.
Holy Cross is followed by Assumption University at $2.49 million, Worcester State University at $2.067 million and Fitchburg State University at $2.017 million.
Rounding out the Worcester schools is Anna Maria College at $1.93 million, Nichols College at $1.91 million, Clark University at $1.87 million and Quinsigamond Community College at $1.48 million.
Massachusetts College of Pharmacy and Health Sciences, which U.S. News & World Report did not rank among other colleges due to its status as a specialty science school, actually offers the highest return on investment in the city based on Georgetown's calculations, a 40-year return on investment estimated at $4.2 million.
According to the Georgetown study, the national average for a 40-year return on investment is around $1.5 million.