States With the Highest and Lowest Earning College Graduates
Find out which state's college graduates earn the most (and the least) on average.
We’re in the midst of graduation season — across the country, college grads are walking across the stage to accept their hard-earned diplomas. But after one big accomplishment comes another. Now’s the time to find a job and get serious about your finances. Not only does your degree factor into how much money you’ll make, but where you live also plays a part.
A recent study from Teach Simple determined the states with the highest and lowest median university earnings, using information from the U.S. Department of Education’s College Scorecard. The study analyzed and compared institutions within each state to determine the ranking order, considering three factors: median earnings of people who began college 10 years ago, the average annual cost a student who receives federal financial aid will pay to cover expenses and the average graduation rate within eight years of entering the school.
“Policies and regulations, such as minimum wage laws, tax policies, and labor regulations, differ across states and therefore impact earnings across institutions, says Cole Vineyard, founder of Teach Simple. “States with higher minimum wages or more worker-friendly policies may offer higher earnings for workers across all sectors.”
From just $107.88 $24.99 for Kiplinger Personal Finance
Become a smarter, better informed investor. Subscribe from just $107.88 $24.99, plus get up to 4 Special Issues
Sign up for Kiplinger’s Free Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
Which states have the highest earning graduates?
According to Teach Simple’s data, these are the states with the highest earning graduates.
Also included is the institution in each state with the graduates who earn the most, four years after getting their degree, determined by Degree Choices. To determine which school had the biggest earners, Degree Choices analyzed 2022 data from the Department of Education’s College Scorecard on the median earnings of degree holders who received at least $1 in financial aid and who were working (and not enrolled) four years after completing their degree.
1. Massachusetts
- Average of each institution's median earnings: $65,319
- Average annual cost of school: $26,268
- Average graduation rate: 67%
- Institution with the biggest earners: Massachusetts Institute of Technology (MIT)
2. Rhode Island
- Average of each institution's median earnings: $64,818
- Average annual cost of school: $29,083
- Average graduation rate: 68%
- Institution with the biggest earners: Bryant University
3. Connecticut
- Average of each institution's median earnings: $64,720
- Average annual cost of school: $22,889
- Average graduation rate: 59%
- Institution with the biggest earners: The American Sentinel College of Nursing and Health Science
4. Maryland
- Average of each institution's median earnings: $60,286
- Average annual cost of school: $18,103
- Average graduation rate: 58%
- Institution with the biggest earners: Capitol Technology University
5. District of Columbia
- Average of each institution's median earnings: $59,364
- Average annual cost of school: $25,000
- Average graduation rate: 40%
- Institution with the biggest earners: N/a
“Education is extremely beneficial for economic success. Individuals with higher levels of education will have access to better job opportunities, higher salaries and greater job security," says Vineyard.
States with the lowest earning graduates
On the other hand, these are the states with the lowest earning graduates.
47. North Dakota
- Average of each institution's median earnings: $43,000
- Average annual cost of school: $12,867
- Average graduation rate: 40%
48. Kentucky
- Average of each institution's median earnings: $42,000
- Average annual cost of school: $15,811
- Average graduation rate: 47%
49. Arkansas
- Average of each institution's median earnings: $41,481
- Average annual cost of school: $14,143
- Average graduation rate: 43%
50. Mississippi
- Average of each institution's median earnings: $39,235
- Average annual cost of school: $13,750
- Average graduation rate: 45%
51. New Mexico
- Average of each institution's median earnings: $38,417
- Average annual cost of school: $14,833
- Average graduation rate: 46%
Bottom line
The Northeast has the highest earning graduates in the country, while the South and Midwest have the lowest, according to the data. Colleges in the Northeast also cost more, on average, and the cost of living is also higher in this area. While location isn't the be-all and end-all of how much money you'll make once receiving your degree, it is wise to pay attention to your state's post-graduation economic outcomes before committing to the financial burden of student loans.
Related Content
-
QUIZ: What Type Of Retirement Spender Are You?Quiz What is your retirement spending style? Find out with this quick quiz.
-
How to Avoid the Financial Quicksand of Early Retirement LossesSequence of returns — experiencing losses early on — can quickly deplete your savings, highlighting the need for strategies that prioritize income stability.
-
How an Elder Law Attorney Can Help Protect Your Aging ParentsIf you are worried about older family members or friends whose financial judgment is raising red flags, help is out there — from an elder law attorney.
-
Is Your Emergency Fund Running Low? Here's How to Bulk It Back UpIf you're struggling right now, you're not alone. Here's how you can identify financial issues, implement a budget and prioritize rebuilding your emergency fund.
-
My First $1 Million: Semiretired CPA, 68, San FranciscoEver wonder how someone who's made a million dollars or more did it? Kiplinger's My First $1 Million series uncovers the answers.
-
I'm a Wealth Adviser: These Are the 7 Risks Your Retirement Plan Should AddressYour retirement needs to be able to withstand several major threats, including inflation, longevity, long-term care costs, market swings and more.
-
Tip: Ways to Track Your Credit Card RewardsHere are the best strategies and apps to help you stay current with your credit card rewards.
-
Do You Have an Insurance Coverage Gap for Your Valuables? You May Be Surprised to Learn You DoStandard homeowners insurance usually has strict limits on high-value items, so you should formally "schedule" these valuable possessions with your insurer.
-
How We Manage Our Finances Together as a Married CoupleDouglas Boneparth, a certified financial planner, and his wife, Heather Boneparth, speak with Kiplinger about couples managing finances.
-
How AI Is Changing the Way Americans Spend on Live EventsAI bots are reshaping ticket prices, resale markets and how fans shop. Here's what it means for your wallet and how to get the best deals on concerts, sports and shows.
-
What Bilt Cardholders Need to Know as Wells Fargo Exits the ProgramA major shake-up in the Bilt Rewards program could affect your credit card, rent rewards and points strategy heading into 2026.
