RAPID CITY, S.D. (Sept. 23, 2013) - The newest PayScale report for college graduates puts the South Dakota School of Mines & Technology as 13th nationwide for starting salaries, behind the likes of three U.S. military academies and the Massachusetts Institute of Technology (MIT).
The 2013-2014 PayScale College Salary Report, which examined salary figures for 1,106 colleges and universities nationwide, lists the average starting salary of School of Mines graduates as $62,400 with an average mid-career salary as $91,800.
In other highlights of the new PayScale report, the School of Mines ranks:
- #2 in starting salary for Midwest Schools
- #6 in starting salary for State Schools nationwide
- #8 in starting salary for Engineering Schools nationwide
"We're in great company, and it's no accident. We prepare leaders in science and engineering with a rigorous curriculum and a lot of real-world, hands-on engineering experience. There is no easy degree at Mines - there's not a lot of fluff - but the rewards are tremendous. When many families are wondering whether college is worth the price, we have kept costs down, making us one of the best values in higher education in the country," said Mines President Heather Wilson, D.Phil.
Annual tuition and fees at the School of Mines is $8,240 for South Dakota residents and $11,170 for out-of-state residents.
"We offer a great return on investment. Even out-of-state tuition at the School of Mines is lower than the in-state tuition of other schools," Wilson said.
According to the annual report, the School of Mines average starting salary is again higher than that of Harvard University - and all eight Ivy League universities - a comparison which gained traction last year in a BloombergBusinessweek news article.
The new PayScale report underscores the demand for engineering and science students. Besides the three military academies, most of the top-ranking universities for starting salaries are considered engineering or technological universities like the South Dakota School of Mines & Technology. Others were Harvey Mudd College, MIT, California Institute of Technology, Colorado School of Mines, Rose-Hulman Institute of Technology, Stevens Institute of Technology, Thomas Jefferson University, Loma Linda University and Montana Tech of the University of Montana.
Based on the School of Mines' own tracking by its Career & Professional Development Center, the average starting salary of 2012 graduates, the most recent complete class tracked, was $62,696, with 98 percent landing jobs in their career field or enrolling in graduate school.
Here is the link to the full report: http://www.payscale.com/college-salary-report-2014