Matt Collins
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Which College Degrees Have the Best Return on Investment?
- Thread starter Matt Collins
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ClaytonB
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I don't want to rain on anybody's parade, but those numbers are pretty much just made up out of thin air.
My degree (computer engineering) cost me about $35k, or $40k after interest on the loans. Note that a brand-new pickup at that time was a lot less than $40k, so inflation-adjusted, it cost me something more like $100k in 2024 dollars. However, I earned much more than $40k my first year out of college. So, the degree paid for itself pretty much within a year. My best-paying job prior to college paid about $30k (doing steel construction) but even if I subtract that to get the "net" benefit, it would be like 2 years to pay for the degree.
Projecting over lifetime earnings, however, is pretty much meaningless. Maybe I would have started a business if I didn't go to college and maybe I'd be earning 7-figures right now from that business. Who knows. My best paying job was $30k but I know people with the same number of years of experience i Have today who stayed in that line of work and are earning $140k+. In other words, years-of-experience (along with a solid resume) can be a much bigger factor than your education, depending on your line-of-work. And that's leaving aside one-off opportunities that can come along, such as a chance for a promotion into management or getting pulled in on a ground-floor business opportunity or getting onto some pork-barrel government project where you're getting paid in gold bars to sit around and count your toes (meanwhile, moonlighting with some other work). All these kinds of opportunities can come along in life (or not) so it's a bit of a crap shoot. Due to life circumstances (including divorce) I'm probably at less than 50% of median net-worth of my peers in my graduating class. That's not a result of lack of education, opportunity, work-ethic or anything else, it's called crap happens. So, "YMMV" is the watch-word here...
My degree (computer engineering) cost me about $35k, or $40k after interest on the loans. Note that a brand-new pickup at that time was a lot less than $40k, so inflation-adjusted, it cost me something more like $100k in 2024 dollars. However, I earned much more than $40k my first year out of college. So, the degree paid for itself pretty much within a year. My best-paying job prior to college paid about $30k (doing steel construction) but even if I subtract that to get the "net" benefit, it would be like 2 years to pay for the degree.
Projecting over lifetime earnings, however, is pretty much meaningless. Maybe I would have started a business if I didn't go to college and maybe I'd be earning 7-figures right now from that business. Who knows. My best paying job was $30k but I know people with the same number of years of experience i Have today who stayed in that line of work and are earning $140k+. In other words, years-of-experience (along with a solid resume) can be a much bigger factor than your education, depending on your line-of-work. And that's leaving aside one-off opportunities that can come along, such as a chance for a promotion into management or getting pulled in on a ground-floor business opportunity or getting onto some pork-barrel government project where you're getting paid in gold bars to sit around and count your toes (meanwhile, moonlighting with some other work). All these kinds of opportunities can come along in life (or not) so it's a bit of a crap shoot. Due to life circumstances (including divorce) I'm probably at less than 50% of median net-worth of my peers in my graduating class. That's not a result of lack of education, opportunity, work-ethic or anything else, it's called crap happens. So, "YMMV" is the watch-word here...
Most of em may not get a very positive return if you get a regular pay period , after taxes removed and only invest in a 401k and a ome. Once inflation , capital gains , state tax , fed tax , social sec tax , medicare tax , state tax , county tax , property tax , city tax , weel tax, gasolines 3 taxes , liquor , beer wine tobacco taxes , dog tax, licensing and assoc fees etc
GlennwaldSnowdenAssanged
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27 year old son has over $400,000 net assets from nothing. Electrical Engineer. Last I heard his base pay is well over $100k. Last year bonus was $30k plus he gets stock.
25 year old daughter is chemical engineer. I don't really know any of the specifics of her wage. I know she doesn't value frugality and is not saving and acquiring wealth like my son.
25 year old daughter is chemical engineer. I don't really know any of the specifics of her wage. I know she doesn't value frugality and is not saving and acquiring wealth like my son.
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