Posted by Frugal on August 5th, 2006
Ever wonder how much is the salary of the graduates from the top 3 engineering schools according to US News? I just came across the exact pages. Here is the 2004 salary survey for MIT(2005 data seems to be a little messed up), and here is the 2006 salary survey for Stanford. I couldn’t find the corresponding page for UC Berkeley, but from PayScale, I was able to find some salary information for UC Berkeley graduates. The PayScale data for MIT is here, and for Stanford is here.
A couple of observations:
- The payscale data from MIT seems to be higher than the others probably because the percentage of highly paid engineers is bigger.
- From both MIT and Stanford data, it appears that the highest paid graduates are the computer science, or software engineers. This is consistent with the data in my post of Engineer Salaries in Silicon Valley.
- Comparing the data to the post of engineer salaries in silicon valley, both the new graduates from MIT and Stanford tend to be quite high. Graduating from a top school does help.
Of course, both MIT and Stanford are private universities, and very expensive. The graduate program tuition at MIT is $32300, and the graduate program tuition at Stanford is $35184=$11728*3 quaters. Both figures don’t include any living expenses in the high-cost cities of Boston and Silicon Valley area. You are looking at an investment of close to $50,000 per year. Is it worth it? If you just invest in the shorter Master’s graduate degree (1 to 2 years max), probably it is worth the money. Comparing to UC Berkeley which is a public school in California, the tuition is only $4500 for CA residents, and $12,000 for non-residents. It’s so much more economical.
Probably a more invisible benefit of attending these three schools is the school reputation. The reputation of these three engineering schools are very high. I have never seen them dropping out of top 3 spots, any of the years that I have checked. The reputation by itself can land you multiple offers a lot easier, and in a down cycle of employment, that could be the only factor that matters.
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