Thursday, June 29, 2017

Alma Mater Blotter - Steve Sailer

What’s the worst college in America in terms of taking in kids from rich families and turning out young adults who, despite all their privileges, still won’t earn very much?
By one way of counting, the biggest loser is Middlebury College in the Vermont ski country, site of the recent Charles Murray riot. The median parents of Middlebury students earned $219,600 per year (in 2015 dollars), while ten to twelve years after college, the children (as 32- to 34-year-olds in 2014) earned $61,800.
Granted, $61,800 isn’t bad, but it’s still $157,800 less than their parents were earning while they paid their tuition, which is a lot.
In contrast, the biggest income gainer among over 2,000 American undergraduate colleges is the St. Louis College of Pharmacy, where parents had a median income of $92,500 and their early-30s children average $123,600. That’s also the highest income of any college in the country. (But it should be remembered that St. Louis’ D. Pharm. degree is six years of study and one year of professional training, so it’s not exactly a fair comparison against typical undergraduate colleges.)
The highest-paid students from a general-purpose university are, unsurprisingly, those who attended the Massachusetts Institute of Technology, who have a mean income in their early 30s of $98,500 (although the median MIT parents earn $141,000, so even MIT is a downward proposition in the short run).
Mean incomes are typically higher than median incomes due to small numbers of people with huge compensations skewing the mean. The highest mean income students are from Stanford, with $174,000. (Stanford parents earn a mean of $472,000.)
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