Salary Plays a Big Role in WSJ/College Pulse 2024 Rankings
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Here's your money briefing for Thursday, September 7th. I'm J.R. Whelan for The Wall Street Journal. Selecting a college can be a pivotal decision affecting a person's life and career. The Wall Street Journal has teamed up with College Pulse with a new approach to rank institutions according to key metrics to make that process easier.
We're not looking at how much of a great reputation a school has had since they were founded in the 1800s or anything like that. We're looking really at the things that families think about when they go to school. Is my kid going to graduate? Are they going to get a good salary?
We'll have a roundtable discussion with WSJ Education Bureau Chief Chastity Pratt and the team of reporters who worked on the story. That's after the break.
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What is the Wall Street Journal/College Pulse 2024 ranking and why does it matter to families?
The Wall Street Journal teamed up with College Pulse and Statista to sort through volumes of data and rank schools according to some of the most important criteria that students and families consider when choosing higher education. So let's dive into the results. We're joined by WSJ Education Bureau Chief Chastity Pratt, as well as Rankings Editor Harry Carr and reporter Tom Corrigan. So, Chastity, the Journal's been assembling these rankings for many years. What's different about how you did it this time around?
Well, we know, everyone knows that competition to get into college right now is crazy, that student debt is messy, and families are really trying to figure out what do we do, how do we do it, which school is best for my kid, for my family, for our income, and how much we can pay for schools. And so what we've done this year is we've taken a look at the way we rank schools, and we've changed the data that we're really helping people to understand. So we're more looking at outcomes rather than inputs. We're not looking at how much of a great reputation a school has had since they were founded in the 1800s or anything like that. We're looking really at the things that families think about when they go to school.
Is my kid going to graduate? Are they going to get a good salary? The outcomes.
So the key thing here is that we're doing much more to measure the value that colleges are adding for their students in terms of salaries, in terms of boosting their chances of graduating from the college. It's the colleges which are doing the most for their students in terms of those outcomes, which are going to do the best in our ranking this year.
So Chastity, were you surprised by any of the results that came from the new approach?
there are some surprises there. We're used to seeing the prestigious schools, the Ivies or the Ivy adjacent schools do well in every single category and a lot of different rankings and even in our rankings in the past. But now that we're measuring things differently, there are some smaller schools, some liberal arts schools, some public schools and private schools that are really doing well by their students.
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