Reply to Is U Chicago worth cost over in-state UVA?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Or we just have fundamentally different values.

Scorecard data, BTW, will not be indicative of salaries generally.  It’s based only on attendees who received federal aid.[/quote]

How do you think this affects the data?[/quote]

For one thing it changes ROI calculations because the spread between the costs of the two schools narrows dramatically in that income bracket.  (It’s only about $6,400 per year, and the salary differential at year 10 is about $4,800 per year.  Chicago is the higher figure in both cases).  Also, a working class kid’s version of what a comfortable salary looks like may well be very different from an upper middle class kid’s.  (I say this as a former working class kid who chose academia over BigLaw — both represented upward mobility to me, and one involved work that seemed to me to be a helluva lot more interesting than the other.).  Plus the UMC kid may well have opportunities not available to the working-class kid (based on upbringing, network, wealth, etc.)

I’ll also add that a worker whose terminal degree is a BA will be at a very different place in his or her career (wrt future earning potential) 10 years out of college vs a worker who has earned a PhD or MD or even a JD. This is a separate issue from the unrepresentative sample, but it also affects how you interpret the data.  Personally, if I were an ROI type, I’d be more interested in earnings/assets of alumni in their mid 50s than their early 30s.

For the (other) poster who claimed that scorecard data was for all alumni.  Nope, the website is quite specific: “Salary After Attending” is defined as “The median earnings of former students [b]who received federal financial aid,[/b] at 10 years after entering the school.”  (Emphasis mine).
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