As I have mentioned before, I am a University of Georgia football fan. Our arch rival is Georgia Tech. Yet for 364 days a year, I admire and even like Georgia Tech! I had many Tech graduates in the MBA classes that I taught at the nearby campus of Georgia State University. These men and women were excellent students, and I can see why Georgia Tech has such an outstanding reputation.
Given these facts I was not all that surprised when Smart Money rated Georgia Tech as Number 1 in its rankings of colleges “. . .where it counts: in the job market.” The folks at Smart Money examined three characteristics of 29 million workers in America: the college that each attended, the corresponding tuition and fees charged them for their undergraduate education, and the amount these workers are now paid in the labor market.
Smart Money looked at [the incomes of] two groups of alumni: recent grads out for an average of 2 years and mid career alums out 15 years.
It computed the so-called “Payback Score. . an average of those two groups, current income expressed as a percentage of the sticker price-tuition and fees.” The top five with the highest [Payback Score] were: 1. Georgia Tech , 2. University of Texas , 3. University of Florida , 4. University of Georgia , and 5. University of Illinois . The Ivy League school with the highest Payback Score was Princeton University with a 102 score. Georgia Tech’s Payback Score means that its alumni earn 2.21 times more annually than the estimated cost of tuition and fees where they attended school. Interestingly, Smart Money’s estimates actually understate the productivity of public universities such as Georgia Tech because it used out of state tuition and fee figures which are significantly higher than in state costs.