> What is the expected salary of a MIT engineer ? Last time I checked it was 72,000 dollars per year.
I don't believe that as the average starting salary, let alone mid-career salary. Your average MIT engineering graduate has the skills to be very successful in the job market, and most often that's exactly what happens. They have a huge leg up over people that didn't go to MIT. The average mid-career salary of someone who got an MIT engineering degree is way, way higher than someone who didn't.
> The average mid-career salary of someone who got an MIT engineering degree is way, way higher than someone who didn't.
This is meaningless. The real question is how much more do you earn as an MIT grad vs. someone who was accepted into MIT and decided to do something even more worthwhile instead.
Its a self-selection bias rather than anything. If a student is smart enough - he shouldn't be forced to shell out 5-6 years worth of his expected earning upfront to maybe add an exponential expected future productivity.
I tend to agree, the Alumni group posts starting salaries here: http://web.mit.edu/facts/alum.html but I can't find their 5 year and 10 year numbers. I expect that the median for 10 years would be north of $200,000.
The vast majority of fields are simply not lucrative enough for the median salary to be anywhere near $200,000/yr. A chemical engineer is typically unable to create anywhere near as much value as a software developer at a leading company and is compensated accordingly.
Yeah, per that site, the average starting salary for all MIT undergraduates is $75K/year. That's really damn good. Filter it down to just the software engineers and it'll be a good deal higher. And there's so much upside left too.
I don't believe that as the average starting salary, let alone mid-career salary. Your average MIT engineering graduate has the skills to be very successful in the job market, and most often that's exactly what happens. They have a huge leg up over people that didn't go to MIT. The average mid-career salary of someone who got an MIT engineering degree is way, way higher than someone who didn't.