The Mankato free press. [volume] (Mankato, Blue Earth County, Minn.) 1879-1924, 1912-06-28
EARNINGS OF GRADUATES.

CLASS puDllSneu To-Day. ms sum
covers only such incomes as are
earned directly by each mans in
dividual efforts and does not include
| incomes received by allowance, or
from inheritance or other similar
sources. The average income OBJ
tanned for this class is believed to
be fair estimate of the average
| for all classes during their first ten
years out of college and in view of
recent discussions regarding the in
comes of college graduates it is
surprisingly high.
The statistics contained in the Rec
ord are among the most unique and
interesting of their sort ever COM
piled as well as being highly valu-
able in getting an idea of the ac-
tual earnings of college graduates
based on something more than mere
guess work. Tables were prepared
showing the total earnings and the
average earnings of the members
of the class during each year from
June 1901 to June 1912. Those men
going to professional schools or TAX
ing graduate work after leaving
Princeton were not considered in
compiling the statistics until they
had finished their studies.
Cards were sent to each member
of the class asking for his incomes
for each year. In orders to Sc
cure answers from as many men as
possible it was stated on the blanks
that the inquiry was entirely an
onymous and confidential and the
men were accordingly requested not
to sign their names to the blanks
but only their occupation and in
comes for each of the ten years.
The table compiled from these
statistics shows a steady increase
except for the seventh year, which
was the time of the 1907 panic,
when business suffered generally.
! The average incomes for each year
follow: First year, $7O6.44; second
year, $9O2,39; third year, $1,19S94;
fourth year, $1,65115; fifth year,
$2,O39.42; sixth year, $2,4O8.30;
seventh year, $2,382.33; eighth year,
$2,709.37; ninth year, $3,221.89;
tenth year, $3,SO35S. at... ,..s-o#
In considering the average earn
ings of men engaged in different
kinds of occupation it was found
that at the end of the tenth year
the lawyers led the list with an
average of $4,994.SS Business in
Guiding banking, insurance publish
ing, and all other manufacturing
and mercantile pursuits is "a close
second with an average Of 1864 90.
| 1t is found that the incomes derived
! from business, medicine and law, in
crease more rapidly from year. to
| year than most of the other forms
Of work. A carefully compiled table
giving the average earnings from
each form of work for each year
gives an excellent insight into the
earning power of the different pro-
fessions. -s. H.1
The table gives the following re-
suits: .., .. .
Business for the first ten years
gave the following average, incomes
| in order of years from the first to
! the eleventh: $7O5.54, $93442, ST.
1863, $1,956.61, $2,402.77, $2,S6O 80,
$2.756.5O, $3,O73.64, $3,S61 46, $4,6S4.-
SO. These averages were taken
from the incomes of about seventy
men, the number of men varying
| one or two for each year. ........
ledcnelS loi tHe nTSt Ten years
earned the following average in
comes each year: $7S4.72, $3.50. 10,
$1,095.5S, $1,11O. $1,215.25, $1,4O416,
$1,532.08, $1,715.3S, $1.729.16, $1,779.16.
! Clergymen earned the following
average incomes each year begin
ming with their third year after
graduation: $500, $1,O11.25, $1,1S7.-
33, $1,242.85, $1,421.42, $3.50, ST.
GOTTA, $1,714.25. -. ... .t%.
| Lawyers earned the following az
erage incomes each year. during the
ten: $355.20, $61O.16, 5000, $1,389.-
Al, $2,O9461, $2,S9O.1O, $3,0S9.16 49,
34418, $4,140.0S, $4,9948S.
! Physicians earned the following
average incomes each year begin
ming with the second year after
graduating: $1106.25, $1,71487, ST.
47115, $1,366.22, $1,5O3.60, $2,116.13,
$2,434.4S, $3,O94.45. .~
Engineers earned the following av-
erage incomes: $648.S8, $1029.50
$1,21S, $1,32S.1S, $1,8781S, $500,
$2,3S755, $2,7O7, $2,7OO, $4,000
Journalists earned the following
average incomes: $74125, 1926, ST.
O9666, $1,213.33, $1,413, $1,412.5O,
1 P1s nv, Pl,JOO.tO, PL,llO.
The average incomes from other
professions and occupations e. g.,
farming, chemistry, forestry, etc,
were as follows: $76653, $S78.57,
$1,016.42, $1,40923, $1,758.33, ST.
96923, $2,O32.3O, $2,6S46l, $3.50. 3d.
fG253S. .ts
! An effort was made to compare the
above statistics with similar records
of Yale and Harvard classes but the
only other class to form such sta
tistics was the class of 1896 of Yale.
For purposes of comparison the sta
tistics, of course cover the first five
years only. Such comparison
shows that while the Yale graduates
earn more in the first three years
after graduating the earnings of
the Princeton men increase much
more rapidly and are almost two
hundred dollars more on the aver
age than those of Yale graduates
at the end of the fifth year. The
table showing this comparison fol
lows:
Princeton class of 1901 average
incomes for first five years after
graduation were as follows: $706.44,
$90239, $1,19894, $1,65115, $2,-
039.42. Yale class of 1906 average
incomes for first five years after
graduation were as follows: $740.14,
$96S.S0, $1,286.91, $1,522.9S, $1,SS5.31.
Other comparisons brought out in
the 1901 Glass Record show that