News Item
Pace is Ranked the Best Private University in the Nation for Upward Economic Mobility of Students (International Business Times)
Pace University was ranked number one among private, non-profit, four-year institutions nationwide in a list published last week by the Chronicle of Higher Education, “Colleges with the Highest Student-Mobility Rates, 2014.”
The list is based on data from the Equality of Opportunity Project’s study, “Mobility Report Cards: The Role of Colleges in Intergenerational Mobility” (Chetty, Friedman, Saez, Turner, and Yagan, 2017). The study compared the median parent household income for students at colleges and universities across the country with the earnings these same students achieved after graduation.
“This list reaffirms Pace’s commitment to successful outcomes for our students and that education is the path forward,” said Pace’s President Marvin Krislov.
New York is a national leader in this arena. Six of the top 10 private four-year institutions for economic mobility are located in New York State, while seven CUNY campuses are ranked in the top 10 four-year public colleges.
According to the Bureau of Labor Statistics, median annual earnings for Americans with less than a high school degree amounts to $25,636 while the unemployment rate for the same population is 8 percent, the highest of any of the educational categories. Workers with a high school diploma achieve a median income of $35,256 per year while experiencing an unemployment rate of 5.4 percent. Americans with a bachelor’s degree earn significantly higher with median annual income of $59,124 per year and face a much lower unemployment rate at 2.8 percent. Median annual earnings continue to rise with advanced and professional degrees. In 2012, New York residents with a bachelor's or post-graduate degree earned a median annual income of approximately $70,700, which ranks among the highest in the nation. (New York Building Congress, 2014).
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