Attending an HBCU truly pays off in the long run. Learn how in the story by Derek Major at Black Enterprise below.
Online U, a college ranking company, revealed the top ten Historically Black Colleges and Universities HBCUs whose graduates make more money than other Black grads in their states.
According to SaportaReport, the study, titled HBCUs with the highest payoff for Black students, revealed the list of the median income of an HBCU graduate, 10 years after starting school and that state’s median salary for non-HBCU Black graduates.
Data for the report came from the Equitable Value Explorer, which allows institutional leaders, researchers and policymakers to explore the economic value colleges and universities deliver to students.
To help students accomplish their educational and career goals, Online U researched thousands of online degree programs to provide accurate and detailed salary information for HBCU alumni.
Spelman College finished second on the list as its Black graduates on average make $49,625, while other Black graduates in the state average $40,346.
Taylor Nichols, a data reporter for Online U, said she was surprised to see Spelman high on the list considering Black women make $0.63 for every dollar a White man makes. According to the study, Spelman has a graduation rate of 75% and nearly half of its graduates continue their education to gain employment in business, accounting and the medical field.
Nichols added Spelman Black graduates who are employed by the Atlanta Public School system start out making $2,000 more than other teachers in Georgia’s public school systems.
“Teachers with six years of experience earn $55,235 per year, which is above the state salary threshold for Black graduates and maybe boosting salaries for Spelman alumni who stay in Atlanta,” Nichols told SaportaReport.
Fellow Atlanta-area HBCU Morehouse College finished fourth as its Black graduates averaged $44,135 per year a decade after starting school, about $4,000 more than other Black grads in the state. However economic and business administration graduates earn more than the average compared to business graduates across the country.
Finishing first in the study was the Xavier University of Louisiana, whose Black graduates earned $54,582 while Hampton University ($47,197) and Florida Agricultural and Mechanical University ($39,700). Tennessee State University, Fisk University, Tuskegee University, Alcorn State University, and Dillard University round out the top ten.