Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1904-06-10
Earnings of College Men.

The pecuniary value of a college
education is a subject which has been
much discussed in recent years, and Il
most valuable contribution to the dis
cussion is the section devoted to it in
the annual report of President Hyde OF
Bowdoin College, which has just been
issued. He has been looking up the
earnings of Bowdoin graduates in the
several professions, and collecting data
upon the subject as far as it was easily
available, and the results are of wide
interest 1t is true, as President Hyde
we'll declares, that the value of col
lege education cannot be measured in
money. No graduate of Bowdoin or
any other good college would give up
what his college education has done
for him. even for two or three times
his remuneration in exchange. To dc
SO would simply be to sell large part
graduates select their vocation solely
with Il view to the remuneration it viii
| bring. On the contrary, they choose
the vocation which appeals the strong
| est to their capacity and interest.
Still the pecuniary aspect of a college
education and of professional success
are interesting, and the results OF
| President Hyde's Investigations will &c
| far towards reassuring persons who
have themselves or for their children
| chosen college or vocation on highe:
grounds. Below is given President
| Hyde's summary of the results of his
| investigation:
II have asked such of the graduates
| of the college as were willing to do Sc
| to give me their annual earnings, their
class and their vocation. IA of thOs7
who are engaged in remunerative EN-
ployment which is about half the num-
Der of graduates in such employment
have replied. The replies give earn
ings. not income; which in most eases
would be considerably more. Those
| whose earnings are largest, for obvious
reasons We're most reluctant to reply.
Although several are earning more
than $1,000 none who were earning
more than that amount replied. In the
case of journalism the number engaged
In that profession is too small to make
the returns valuable: and the fact that
there ore two or three exceptionally
successful editors in this small number,
10 hn &c y, that nrnfpScinn
a more optimistic aspect than wider
induction would confirm. While re-
turns from half the graduates of a
single college are not conclusive, yet
in a general way they indicate the
pecuniary value of a college education.
and the relative remuneration to be
obtained in different professions.
A table shows that, after the first
ten years, medicine leads. with an
average remuneration Of $4.6S1. Law
comes second, with S4.577. Journalism
third Though as explained this is prob
ably misleading, with A,271. Business
| work fourth, with 1890. Banking fifth.
with $3,71S. Government employment
sixth, with $500. Miscellaneous pur-
suits seventh. with s2,s67. Education
eighth. with s2.25s. The ministry
ninth and last. with $3.50. The aver
age earnings of the 493 persons report
ing who have been out Of college more
than ten years is 1886.
Medicine is the profession in which
one may acquire considerable earning
power most quickly. though the earn
ing capacity of the lawyer holds out
better in the later wears.
I'm law, medicine, journalism, bust
ness and miscellaneous pursuits the
best period is from thirty to forty
years ont Of college: that is between
the ages of fifty and sixty. In the
ministry. on the other hand. this
period. with the exception of the first
and last years. is least remuneratiye
OF all.
while in the earlier years the COL
lege graduate has. like other people, a
hard struggle financially. earning on
an average only s1.3l2 during the first
ten years: yet after that time he earns
much more than the average man Of
good heredity and good opportunities
who has not had a college education:
and his earning power holds out we'll
through life"