NJIT has moved into the top 4 percent (from 8th) among US colleges and universities for return on investment (ROI) in the 2012 PayScale college rankings. In 2011, PayScale ranked NJIT 81st and now in 2012 ranks NJIT 59th for instate tuition (and top 4th percent http://www.payscale.com/college-education-value/) among more than 1250 undergraduate public and private universities and colleges.PayScale also singled out NJIT as 4th in the nation among state universities for salary potential http://www.payscale.com/best-colleges/top-state-universities.asp; plus ranked NJIT 3rd in the nation among state schools for graduate salaries with mid-career alums earning a media salary of $103,000 and a starting median salary of $53,400. It ranked NJIT 31st in nation for graduate salaries among all institutions.
With the expense and time required to attend college, according to PayScale, earning a degree does pay off long-term, but only if students and parents carefully choose the right institution
To rank the schools, PayScale analyzed the most current cost of four-years of tuition. In 2011, students who graduated from NJIT paid an average of $130,000 in tuition and other fees to graduate, according to PayScale. This cost was then measured against a 30-year net ROI, which in NJIT’s case was calculated to be $554,600, with an annual ROI of 9.7 percent.
When PayScale considered that 91 percent of NJIT students received an average aid package of $9,377, the average 30-year ROI with aid then increased to $579,000 with an annual ROI of 11.2 percent.
Launched in 2002 and headquartered in Seattle, Washington, PayScale owns the largest database of online employee salary data in the world. PayScale possesses a unique and diversified team, with areas of expertise including compensation, business and statistics that brings an innovative and technical approach to online acquisition and analysis of job profiles and compensation.
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