Is an Ivy League Degree Worth It? A Look at How Alumni Salaries Stack Up
We examined starting salaries for Ivy League graduates to find out how much a prestigious education impacts career and future earnings
Ivy League degrees are often thought to lead to higher salaries and better career prospects for graduates. These top universities are known worldwide for being extremely selective, producing notable alumni, and offering invaluable networking opportunities.
But how much of an impact does an Ivy League education really have on alumni salaries? We took a deep dive into starting salaries for Ivy League graduates using our Salary Score, which compare alumni earnings by program and school to salaries for alumni from the same programs across all schools.
We found that, while an Ivy League education did result in higher-than-average starting salaries for most alumni, the impact on salary varied significantly by degree level and program.
KEY INSIGHTS:
- Getting an Ivy League education has a more significant impact on starting salaries for bachelor’s graduates than master’s graduates
- Computer science and economics majors saw the highest payoff for their elite education at the bachelor’s level
- Undergraduate chemical engineering and area studies majors from Ivy League schools saw the lowest salary boost, but still earned higher-than-average salaries
- At the master’s level, Ivy League MBAs and architecture degrees had the highest salary boost for alumni, while programs in theatre arts and natural resources conservation saw the lowest payoff
We developed Salary Score by weighing alumni salaries from each program against salaries from the same programs across all schools. Our Salary Score indicates how much alumni from each school earn compared to alumni from the same programs across the country. Generally speaking, a score higher than 50 means alumni tend to earn more than others with the same degree, while a score lower than 50 signifies median alumni salaries for graduates of a given program or school are lower than average for their field of study.
How does Ivy League Salary Score™ compare for bachelor’s and master’s degrees?
Based on our analysis, we found that an Ivy League degree has a more significant impact on salary for bachelor’s degrees than for master’s degrees. Ivy League bachelor’s degrees had an average Salary Score of 95.75, and the score for master’s degrees fell more than 10 points below that at 84.2.
Every Ivy League school had a higher Salary Score for bachelor’s degree programs than for master’s degree programs except Cornell University.
Most Ivy League schools still hada high Salary Score for bachelor’s and master’s degrees except for Brown University, which had notably lower scores for both degree levels than the rest of the Ivy League institutions.
Brown’s Salary Score of 57 for master’s programs was significantly lower and negatively impacted the Salary Score for master’s degrees overall. However, even when scores for Brown were not included, the average Salary Score was still higher at the bachelor’s level than the master’s level for Ivy League schools.
Princeton University and Dartmouth College were omitted because they did not have enough programmatic data at the master’s level to be given a Salary Score. We only consider schools with data for at least eight programs at the master’s level, which neither school had.
Which majors see the highest and lowest payoff for their Ivy League education?
To determine which Ivy League majors earn the highest salaries compared to non-Ivy League graduates, we looked at the average Salary Score by program across all eight universities.
Some schools did not offer or provide data for certain programs. We only included programs that at least half of the Ivy League universities provided data for to adjust for this. These are relatively small sample sizes, but they still offer a look at how Ivy League degrees impact salaries for individual majors.
BACHELOR’S DEGREE PROGRAMS
Ivy League bachelor’s programs with the best average Salary Score™
| Program Name | Average Earnings for Ivy League Alumni | Average Earnings for All Alumni | Average Salary Score for Ivy League Schools | Average Salary Score for All Schools |
|---|---|---|---|---|
| Computer Science | $124,645 | $67,767 | 99.40 | 47.01 |
| Economics | $79,276 | $48,907 | 98.74 | 47.77 |
| Psychology, General | $41,326 | $29,942 | 95.53 | 48.66 |
| Philosophy | $55,243 | $30,073 | 95.33 | 47.82 |
| Sociology | $48,482 | $32,567 | 94.26 | 48.73 |
These top five fields of study gave Ivy League alumni the highest salary boost over graduates from the same programs at other schools.
Computer science majors saw the highest payoff for their Ivy League education with an average Salary Score of 99.40. Tech is already a highly-paid industry, and Ivy League computer science majors earned significantly higher average salaries than computer science alumni from other universities. Average earnings for Ivy League graduates were $56,878 higher than average salaries for computer science majors across all schools.
This finding was unexpected given that tech is typically not seen as a field focused on elite education. Despite this, it’s clear that an Ivy League education results in a significant salary boost for computer science majors. Google, Amazon, Microsoft, and Facebook are top employers for every Ivy League university, according to LinkedIn profiles for each school.
Ivy League degrees also significantly impacted starting salaries for economics majors, with an average Salary Score of 98.74 at the bachelor’s level. Average salaries for Ivy League economics majors were $30,369 higher than the average for all economics alumni.
The Ivy League name likely helps graduates get high-paying jobs in business and finance, fields often dominated by elite degrees. Top firms such as Goldman Sachs, McKinsey & Company, and Morgan Stanley routinely recruit Ivy League graduates and are listed as top employers for Ivy League universities on LinkedIn.
These three fields all performed particularly well against other schools but still resulted in relatively low average earnings. For students interested in these majors, weighing the pros and cons of an Ivy League education may be more complicated. Average starting salaries were still much lower than annual tuition rates at any of these universities. However, most lower- and middle-income Ivy League students receive financial aid packages that significantly lower tuition costs. Students who pursue these majors often see a higher starting salary with an Ivy League degree, but potential financial aid packages will likely remain a significant factor in the decision-making process.
Ivy League bachelor’s programs with the worst average Salary Score™
| Program Name | Average Earnings for Ivy League Alumni | Average Earnings for All Alumni | Average Salary Score for Ivy League Schools | Average Salary Score for All Schools |
|---|---|---|---|---|
| Chemical Engineering | $69,124 | $66,961 | 62.15 | 51.63 |
| Area Studies | $39,147 | $33,931 | 70.45 | 50.25 |
| Biology, General | $34,694 | $29,000 | 75.66 | 49.50 |
| Ethnic, Cultural Minority, Gender, and Group Studies | $34,889 | $29,538 | 79.46 | 48.91 |
Four fields of study had an average Salary Score below 80 for Ivy League schools. While alumni from these programs did tend to earn higher salaries than the overall average, they did not earn the highest salaries for their degree category. These lower scores mean other non-Ivy League institutions had alumni from the same programs who earned higher median salaries.
The average Salary Score for Ivy League schools were lowest in chemical engineering at 62.15. Columbia has a particularly low chemical engineering Salary Score of 4.11, meaning Columbia alumni earned lower salaries than students from the same program in almost every other school. Median alumni earnings for Columbia students in the major were nearly $20,000 lower than those at Cornell, the Ivy League school with the second-lowest score.
Ivy League degrees in area studies, including programs such as African studies and East Asian studies, also had little payoff for alumni. Area studies had an average Salary Score of 70.45 for Ivy League schools. While Ivy League graduates in these majors did tend to earn more than the average for all schools, median starting salaries were higher for graduates from other institutions.
Biology programs at Ivy League institutions had an average Salary Score of 75.66, meaning 25% of schools produced higher-paid alumni from the same field of study. However, the University of Pennsylvania had a notably high Salary Score of 99.34 in this degree category, making the university one of the best schools for earning potential for biology programs.
This degree category includes programs such as African American studies, women’s studies, gay and lesbian studies, and disability studies. Ivy League schools had an average Salary Score of 79.46 for these programs.
MASTER’S DEGREE PROGRAMS
Ivy League master’s programs with the best average Salary Score™
| Program Name | Average Earnings for Ivy League Alumni | Average Earnings for All Alumni | Average Salary Score for Ivy League Schools | Average Salary Score for All Schools |
|---|---|---|---|---|
| Business Administration, Management, and Operations | $151,233 | $71,049 | 96.41 | 46.98 |
| Architecture | $61,802 | $54,123 | 91.01 | 48.50 |
Master’s Salary Score was not as strong across majors. There were only two programs with an average Salary Score above 90 for Ivy League universities.
MBA programs had the highest Salary Score at 96.41, offering further evidence for the significant impact an elite graduate degree in business can have on starting salaries. This is likely due in large part to the networking and job opportunities available through these programs. The average starting salary for business administration graduates from Ivy League master’s programs was $80,184 higher than the average starting salary for all MBA graduates.
While an MBA degree often results in a significant salary increase for graduates regardless of their alma mater, it’s clear that an MBA from an Ivy League often results in a higher salary boost. Top employers for Ivy League business schools include Goldman Sachs, McKinsey & Company, Morgan Stanley, Google, and IBM.
A master’s degree in architecture also had a high payoff for Ivy League graduates, with an average Salary Score of 91.01. Students often earn this degree to specialize in a certain design type, pursue a teaching position at a university, or gain the experience necessary to lead design teams. A master’s degree isn’t required to work in the field and will likely be a significant investment in time and money. Master’s degrees in architecture also have a low pay off compared to median bachelor’s degree salaries in the field. However, an Ivy League degree can maximize the payoff for those seeking the advanced credential.
Ivy League master’s programs with the worst average Salary Score™
| Program Name | Average Earnings for Ivy League Alumni | Average Earnings for All Alumni | Average Salary Score for Ivy League Schools | Average Salary Score for All Schools |
|---|---|---|---|---|
| Drama/Theatre Arts and Stagecraft | $29,939 | $33,465 | 40.16 | 47.99 |
| Natural Resources Conservation and Research | $58,976 | $50,411 | 74.64 | 50.00 |
| Ecology, Evolution, Systematics, and Population Biology | $88,471 | $60,032 | 79.97 | 47.63 |
The three worst majors for Ivy League master’s programs by Salary Score were drama and theatre arts, natural resources conservation, and ecology, evolution, and population biology. These three categories were the only ones that fell below a Salary Score of 80 for Ivy League schools, indicating that a range of other institutions produced graduates who earned higher salaries in these fields.
Master’s drama and theatre arts programs fell nearly 8 points below the average for Salary Score at 40.16. Both Brown and Harvard had a particularly low Salary Score for this field, meaning alumni from these colleges had lower-than-average salaries at just over $21,000 per year. These low scores brought down the average Salary Score for these programs at Ivy League schools. However, Yale and Columbia alumni had higher-than-average salaries, which tipped alumni salaries for Ivy League programs just over the average for all schools.
Students interested in a related master’s degree from an Ivy League university will likely need to take an in-depth look at the Salary Score for their chosen program at each university to find which program is most likely to offer the highest payoff.
Ivy League master’s programs in this field had an average Salary Score of 74.64. This category includes environmental science and environmental studies. While Ivy League alumni salaries were still higher than average for those with advanced degrees in the field, they did not break the top 25% for Salary Score.
Ivy League graduate degree programs in the field fell just under 80 with a Salary Score of 79.97. This category includes programs in marine biology, environmental biology, epidemiology, and biological systems, among other areas of study. While average Ivy League alumni earnings were higher than the average across schools, other universities produced higher-paid alumni in the field.
Ivy League Degrees and Financial Aid: Weighing the Options to Maximize Your Return on Investment
Whether or not an Ivy League degree will be worth it depends heavily on how much a student will actually spend on their education. While Ivy League universities are known for their high price tags, they can be much more affordable than students realize. Most Ivy League universities cover the full price of tuition for students who come from lower-income families. Middle-income families also often receive enough financial aid to lower the cost of an Ivy League degree significantly. Prospective students should take potential financial aid packages into account alongside Salary Score and other student outcome measures when considering higher education options.