NEW YORK, May 1, 2013 /PRNewswire/ -- The Polytechnic Institute of New York University (NYU-Poly) has been ranked third among all schools in the nation in PayScale's 2013 College ROI Report, which links the cost of attending over 1,000 colleges to median alumni salaries. The small engineering and applied sciences school in Brooklyn, New York, regularly lists among PayScale's top ten schools for the mid-career salary potential of baccalaureate alumni.
In its newest survey, PayScale calculates that NYU-Poly graduates earn more than $1.6 million over 30 years, yielding an average 7.6 percent return on their educational investment of $214,000. PayScale reports NYU-Poly's mid-career graduates average $117,000 per year, and that starting salaries average $56,800. All its calculations apply to alumni holding four-year degrees.
Engineering schools and research universities dominate the list, accounting for all of the top 12 places. NYU-Poly ranks behind only Harvey Mudd College and the California Institute of Technology.The earnings potential is important for many NYU-Poly graduates: About half of its students receive federal Pell Grants for low-income families, and 38 percent of incoming students report that they are the first in their families to attend college. "From its founding in 1854, Poly has been committed to educating outstanding students who have gone onto Nobel prizes and inventions that have changed our lives forever," said NYU-Poly President Katepalli Sreenivasan. "This latest PayScale ranking demonstrates that innovation in engineering education, which is a hallmark of Poly, is fulfilling and financially fruitful. This success owes itself in part to the excellent education the students receive at Poly and in part to the determined motivation of the students to succeed. I hope that this ranking–and those of the other research and engineering colleges–serve as a beacon to students in primary and secondary schools to consider fulfilling careers in the STEM subjects–science, technology, engineering and mathematics."