PRESS RELEASE
December 22, 2005

Contacts: Richard Pak, Research Analyst
(801) 355-1400, ext. 6
(801) 699-9404 (mobile)
rich@utahfoundation.org

Stephen Kroes, Executive Director
(801) 355-1400, ext. 5
(801) 573-8824 (mobile)
steve@utahfoundation.org

STUDY SHOWS DIFFERENCES IN UTAH COLLEGE GRADS’ WORK EXPERIENCE, SALARIES, AND RETENTION IN UTAH

Today, Utah Foundation released a report entitled “What is a Utah College Degree Worth?” The report compares the current employment and educational status of 2004 graduates from all major colleges and universities in Utah, along with information about salaries they are earning after one year in the workforce.

The Utah Foundation Research Report should be attached to this release. If not, it is available at www.utahfoundation.org. This report is a deeper, school-by-school look into data first released with statewide totals in September. That report, (“Does Utah Have a College Graduate Brain Drain?” Utah Foundation, Sep. 2005) is also available at www.utahfoundation.org.

One of the most interesting aspects of the new report is the comparison of salaries earned by 2004 graduates after their first year in the workforce. Statewide, most bachelor’s degree graduates are making less than $30,000 a year, but Utah Valley State College far exceeds each of the other schools in the proportion of bachelor’s degree graduates earning $40,000 or more. However, Research Analyst Richard Pak said, “These salary comparisons can end up with different rankings, depending on the salary ranges examined. While UVSC clearly leads in the proportion of bachelor’s degree graduates earning $40,000 or more, if we look at the higher income ranges, BYU and the University of Utah are basically tied with UVSC.” Mr. Pak added, “UVSC graduates are much more likely to have studied business, computer science, or other higher-paying, career-oriented subjects, which gives them a statistical edge in salary rankings.”

The report showed a significant difference in salaries of those graduating with advanced degrees (master’s degrees, PhDs, law degrees, etc.). A strong majority of these graduates from Brigham Young University and the University of Utah are earning $50,000 or more. The University of Utah leads in the proportion of advanced graduates earning $80,000 or more.

Graduates who completed internships during their college experience are much more likely to be employed full time and receive significantly higher salaries. Westminster College significantly outperforms the other schools in internship placement, with 70% of its graduates reporting that they completed an internship. Mr. Pak said, “It is probably no coincidence that Westminster students had the most internship opportunities and also held a much higher opinion of Utah’s job opportunities than students from other schools.” Nevertheless, graduates from each of Utah’s major colleges and universities rated Utah’s job market as below par compared to other places they have lived. This appears to be a result of Utah jobs providing lower salaries; the previous report on statewide data showed that graduates who left Utah received significantly higher salaries than those who stayed.

This report shows that graduates from Weber State, UVSC, Utah, and Westminster are the most likely to stay in Utah after graduation. In percentage terms, BYU graduates are most likely to leave the state after graduation, although BYU is unique in attracting a student body that has a strong majority of non-Utah natives. 42% of these non-Utahns end up staying in Utah after earning a bachelor’s degree from BYU, adding a significant number of graduates to Utah’s workforce.

The report provides data on how many graduates from each school choose to enter the workforce, go on to graduate school, or decide to be homemakers. Southern Utah University leads the state in the proportion of graduates who are now homemakers (13%), with BYU close behind at 10%. At the other end of the scale, less than 2% of University of Utah graduates are homemakers, and none of the Westminster graduates surveyed had chosen to do so.

Those most likely to be employed full time after obtaining a bachelor’s degree are graduates of UVSC, Utah State University, and Westminster. BYU graduates with bachelor’s degrees are least likely to be working full time (57%) and most likely to continue their education and pursue an advanced degree (29%).

The research report is available to the public at no cost on our website at www.utahfoundation.org.

Utah Foundation is a nonprofit research organization. Our mission is to encourage informed public policy making and to serve as Utah’s trusted source for independent, objective research on crucial public policy issues.