Lawrence Technological University moved up in the 2016 PayScale College ROI Report, which measures the return on investment of a college degree from more than 1,000 institutions nationwide.
Lawrence Tech is 56th in the nation in PayScale's ranking of the net 20-year return on a college degree. That's up from 74th last year and 91st two years ago. This year's ranking places LTU in the top 5 percent of the 1,343 colleges and universities ranked. For the full list, visit www.payscale.com/college-roi.
The survey showed that LTU graduates with a bachelor’s degree earned an average of $56,600 early in their careers and $94,000 by mid-career. The net 20-year return on an LTU degree was pegged at $614,000.
LTU has the best ranking among colleges in the three-county metropolitan Detroit area. The ranking was also good for fourth in Michigan among 32 institutions listed. See www.payscale.com/college-roi/state/Michigan.
PayScale is a salary, benefits, and compensation information provider based in Seattle, Wash. Its annual compensation survey of college graduates is based on more than 1.4 million employee records.
The PayScale survey documents that students get the best return on their college investment by majoring in science, technology, engineering or math (STEM). More than half of LTU graduates (55 percent) included in the PayScale survey majored in STEM subjects, which was also true for most of the other high-ranking colleges.
“LTU remains firmly committed to offering STEM and STEM-leading education,” said LTU President Virinder Moudgil. “STEM is part of our DNA, and it has been since Lawrence Tech was founded at the edge of Henry Ford’s famous Model T factory in 1932.”
Moudgil added that students and their families are increasingly concerned about the bottom line of their investment in higher education.
“They want to know that the time and money they put into college will pay off in their careers,” he said. “We’re pleased that the results at LTU have been consistently strong and reflect the type of high-paying, high-value professions that LTU graduates typically aspire to.”
“For most people, college is one of the largest expenses they’ll ever take on, so it makes sense to think about it like any other financial investment,” said Aubrey Bach, PayScale's head of alumni analytics. “We created the College ROI Report to help students and their families understand the long-term implications of their decisions about school and major. We hope that with this kind of data, students can make smarter educational choices and avoid crippling debt.”