OK, I never knew there would be a part 2 to the article I wrote last week titled Colleges Worth The Investment. However, I came across another article on Tuesday that caused me to write a ‘Part 2′.
Now this article posted on Yahoo Finance (written by the Wall Street Journal) actually makes some sense to me. This story focuses on what universities/colleges companies actually recruit at. That tells me a lot more than the story the previous week that ranked colleges based on a nebulous Return On Investment number, which was based on an even more ridiculous predicted salary 30 years in the future. To me, any ratio derived from a projection so far in the future is meaningless.
The most recent article, and the basis for this post, focuses on corporate spending. The Wall Street Journal stated that when recruiters were interviewed to find out where they invest their recruiting dollars, it was found that big universities is where the money is spent. Part of the reason for this is actually economical. As corporate budgets have shrunk, recruiting dollars have to be wisely allocated. Recruiting at a large university is much more cost effective than traveling to multiple smaller schools. Plus, some recruiters believe that students from larger universities are well rounded and fit into the corporate world easily. The Ivy League graduates may make more money (may…), but it is possible that going to a large university may actually get your hired.
As a matter of fact, Google felt so strongly about recruiting from a large university that part of the reasoning for setting up a sales/operations office in Ann Arbor, MI was because of the close proximity to the University of Michigan.
In addition to spending their recruiting dollars at the larger, public universities, companies are also creating stronger relationships with these schools to make hiring for long term employment and internships easier. Therefore, it is even recommended that students know where corporations are recruiting at when applying for college. For example, if a student knows they want to work for Intel, it makes sense for that student to apply at a college that Intel actively recruits at.
Below is a ranking by recruiters of the top 10 schools in the US for recruiting. In-state tuition is shown in parenthesis, except for Carnegie Mellon. Carnegie Mellon is a private institution and charges the same tuition for students from any state.
- Penn State ($15,300)
- Texas A&M ($8,400)
- University of Illinois at Urbana-Champaign ($14,000-$18,000)
- Purdue ($9,000-$10,000)
- Arizona State ($8,000)
- University of Michigan ($11,800)
- Georgia Tech ($8,700)
- University of Maryland, College Park ($8,400)
- University of Florida ($5,000)
- Carnegie Mellon ($42,100)
Take that Ivy Leagues! Of course, I have nothing against private universities. I just cannot afford them, so I am glad that the public universities are getting some positive news too. I also appreciate that this article is based on real data, as opposed to ‘projections’ like the Payscale article was.
What do you think? Did you get your first job from a campus interview? I personally did not, but my husband did.