University graduates earn more than peers
By Alexandra Campbell-Ferrari
Senior Writer
Salaries of University graduates topped a recent report comparing students of liberal arts universities.
The 2008 Education and Salary Report, produced by market researcher PayScale Inc., said University graduates have the highest earning potential among top liberal arts colleges.
The report revealed University graduates start at a median salary of $54,100 and earn a mid-career median salary of $110,000.
“I think it speaks well of the academic experience that our students have had and continue to have at Bucknell, an experience that prepares many graduates for the world of work along with the many others who enter graduate and professional school programs,” said Kurt Thiede, vice president for enrollment management and dean of admissions.
The survey only included employees with a bachelor degree and nothing higher, according to PayScale’s Web site. Graduates who completed bachelor’s degrees, continued their education, and earned other advanced degrees were not included, the Web site said.
PayScale defined starting employees as having no more than five and a half years of experience in their field, while mid-career employees had at least 10 years of experience.
Ben Marsh, professor of geography and environmental studies, questioned the validity of the study and said he identified flaws with the data.
“The 2006 Census reports the median income for holders of bachelor’s degrees as $43,143. The lowest value that PayScale reported for any school in the United States was above that … Every school is above that median.
This is mathematically impossible, of course,” Marsh said.
“It includes only people who complete a survey from a for-profit income-comparing company’s survey. [And] the company … professes a 10 percent error estimate for liberal arts schools.”
The survey sheds light on the University’s historical commitment to producing the most qualified graduates, Thiede said.
He said future applicants may be more interested in attending the University, thanks to the survey.
But Marsh said he fears many students’ focus will shift from learning to earning potential when selecting schools.
“Teaching students who choose Bucknell because of the money they’d later make would be a lot less rewarding to the faculty than teaching students who choose Bucknell for the value of the education itself,” Marsh said.
These results may also indicate the University’s movement away from the traditions and values of liberal arts universities, Marsh said.
“The statistics could reflect the fact that we’re only sort of in the liberal arts category, with the mere number of engineers and managers offsetting the number of more traditional liberal arts students,” Marsh said.
Current students said these survey results boost their confidence in an unpredictable job market.
“As someone heading out into the work force next semester, reading this gives me even greater confidence in my Bucknell degree. I know that my degree will be valued by my employer,” Caroline Patten ’09 said.
Meg Fleischli ’09 said she finds the data affirming.
“While I intend to attend medical school following my graduation from Bucknell, it is reassuring to know that my Bucknell degree is respected in the work and academic community,” Fleischli said.
