Question

Do you think going to Harvard (or another highly selective university) would result in higher income after graduation than going to the local state school (like FIU)? Why or why not?

Answer 1

Specifically, the reputation of the school has a significant influence on potential earnings projections for business and other liberal arts majors. But it doesn't matter whether students go to a prestigious, costly school or a low-priced one for fields such as science, technology , engineering and mathematics, the predicted earnings turn out to be the same. So, by chasing a costly diploma in those areas, families may be losing money.

The skills students learn in these fields tend to trump reputation for future jobs, likely because curricula are somewhat organised and there is a widely recognised body of information students need to master. So, to ensure a decent income after graduation, a student does not need to attend the best possible degree.

Company students, on the other hand, at more prestigious colleges will benefit from the contacts made during college with prospective employers and other alumni. The researchers find a 6 to 18 percent higher pay for graduates of elite schools compared to less selective colleges or mid-tier colleges for finance , education, and humanities majors.