ROI Of Computer Science Degree Colleges Vs SynergisticIT Job placement Program

Computer science degrees have long been a golden key to better job opportunities and hefty paychecks. Not anymore—many college grads have huge loans and can’t find work. All this has shifted people’s perception of degrees as a launchpad for success. Let’s compare Synergisticit’s Job placement program Success and ROI vs Colleges.

According to data, most students finish college with a debt of about $38,290. Also, only a few employers—about 11%—think these students are ready to start working. Regardless, college costs are increasing every year. All this makes it quite natural to question the true worth of the degrees.

The Wall Street Journal–NORC poll

As you will spend hundreds of dollars on a four-year CS program, you need to look at the value you will get out of it. Colleges must prove they can prepare you well for the dynamic IT job market during those four years.

At the same time, you must consider the returns of this investment in the next 10, or 20 years. In this blog, we will look at the costs associated with the CS degree courses and examine whether they truly pay off. We will also explain how Synergisticit’s Job placement program offers a better return on investment (ROI) than even the most esteemed tech colleges.

What Is The Cost Of A Computer Science Degree?

Going to college in the U.S. is expensive, whether you choose a public or private institution. On average, if you go to a public college in your state or district, it could be around $9,000 each year just for classes. If you pick a public college in a different state, it jumps to about $19,000. And private colleges? They can charge almost $31,326 a year.

But wait, that’s not the only money you have to pay. That’s just for the classes. You must also think of the boarding/housing, food, books, and other expenses. If you add all these expenses, the cost goes by $20,000–$30,000 each year. So, over four years, you’d be spending an extra $80,000 to $120,000 on top of your tuition fees.

The average cost associated with degree courses for the academic year 2022–23.

Tuition and required fees	4-year program	2-year program
Public
In-district1	$8,782	$3,980
In-state	$8,855	$4,688
Out-of-state	$19,188	$8,918
Private nonprofit	$31,326	$17,095
Private for-profit	$19,001	$16,541
Books and supplies
Public	$1,249	$1,453
Private nonprofit	$1,163	$1,257
Private for-profit	$1,172	$1,533
Room and board
Public
On-campus	$11,391	$7,736
Off-campus (not with family)	$11,566	$10,229
Private nonprofit
On-campus	$11,757	$9,789
Off-campus (not with family)	$11,539	$11,445
Private for-profit
On-campus	$12,612	$14,035
Off-campus (not with family)	$11,228	$10,298
Other expenses
Public
On-campus2	$3,750	$3,893
Off-campus (not with family)	$4,323	$4,795
Off-campus (with family)3	$4,388	$4,658
Private nonprofit
On-campus	$3,145	$4,213
Off-campus (not with family)	$3,924	$5,604
Off-campus (with family)	$4,044	$5,246
Private for-profit
On-campus	$3,789	$2,784
Off-campus (not with family)	$6,026	$6,064
Off-campus (with family)	$5,437	$4,997

Source: U.S. Department of Education, National Center for Education Statistics, IPEDS, Fall 2022, Institutional Characteristics component (provisional data).

Understanding The Return On Investment For A College Degree

All this conversation about college expenses brings us to question. Do you get back the money you invested in a college degree?

This is a valid question to ask, as higher education can burn a hole in your pocket. Over 2 or 4 years, you have a mountain of debt to pay with the assurance that your CS degree is worth it.

Frankly, guessing the actual return on investment on a college degree is treading on a slippery path. Compare it with buying a stock or property that’s supposed to make you more money over time. But that’s just an assumption, as you may or may not make money. The same can be said about returns after college.

Data by the Education Data Initiative on college degree return on investment reveals that the median return on investment (ROI) for the average bachelor’s degree is 287.7%. That’s terrific! Isn’t it? But here is the catch: in the first 10 years, you lose money, with a negative ROI of 41%. Moreover, it takes about 15 years after finishing college to start seeing the returns.

Here is the data showing the time required to see returns after obtaining each degree.

Now, let’s talk about jobs after finishing college, like working in the tech industry. When you’re just starting, you might make around $50k to $80k a year. But with student loans to pay back and other bills to cover, it’s not easy to manage your expenses, especially when you have a limited income.

Some top colleges, like Harvey Mudd College and Massachusetts Institute of Technology, say they give you a good bang for your buck. But they’re quite expensive because they’re private schools. The cost of going to college keeps going up, but the salary CS graduates get isn’t growing much. So, in four years, the total cost beats the actual salary outcome.

There’s also the issue of the outdated curriculum and skills training in college. In the tech world, employers are let down because new graduates aren’t as job-ready as they should be. Technology changes super-fast, and by the time students finish college, they might not have the skills they need for their jobs.

How Can Tech Upskilling Programs Be an Alternative to College?

Tech upskilling programs offered by SynergisticIT are a practical alternative to CS degree programs. Attending a college has a barrier to entry where students have to shell out tens of thousands of dollars each year, adding up to a hefty sum over the four-year course. In contrast, our tech upskilling program requires an initial investment of only $10000. The remaining cost is conditional upon securing a job offer of $81,000 or more, making the financial burden considerably lighter upfront.

Besides the financial burden, going to college also requires a significant time commitment—attending regular classes and studying. This means that you need to pause for a couple of years before starting a job and making your own money. But that’s not the case with our tech upskilling programs. Our fast-paced programs end within a year, letting you enter the workforce earlier and cash in on the current demand for your learned skills which has resulted in 1000’s of Synergisticit’s Job placement program Successes.

Return On Investment: Top CS Colleges Vs. SynergisticIT

A famous tech college like Harvey Mudd or MIT can cost over $300,000. Their 20-year net ROI is about $1.4 million in 20 years, which is pretty decent. However, assuming you get a package of $70-80k, you’ll still need at least 4 to 5 years to earn back the money you spent on going to these big tech schools.

In contrast, the SynergisticIT Job Placement program costs much less—just $36,000. You can pay $10,000 at first and the rest after you find a job. On average, SynergisticIT graduates make higher salaries $81k-$150k. So, you can pay off what you spent on the program in just a few months and start making money right away.

Also, if you start with a $100k salary and it goes up by even a minimum of 3% every year, you could make about $1,170,000 in ten years and around $2,760,000 in twenty years. That’s almost twice as much as what you’d get at the big tech schools. So, the $36,000 you’d spend on SynergisticIT seems negligible when you compare its ROI with tech colleges.

Here is a bar graph to help you understand the ROI of SynergisticIT compared to the top IT colleges.

The graph illustrates Synergisticit’s Job placement program Success in comparison to other institutions.

Conclusion

The returns on investment (ROI) from our Job placement Programs beat those of the elite colleges by a long shot. Our IT upskilling programs are a ticket to getting high-paying tech jobs. Investing your time and money in our program can bring you better returns. You’ll get more money back compared to what you spend on learning.

If you want to get maximum returns on money invested in learning, our upskilling programs are the way to go. Since 2010, SynergisticIT has helped 1000’s of job seekers thrive in the tech industry. At SynergisticIT, we make candidates work on technologies and skills our clients demand.

Our unique approach goes beyond training, offering hands-on project experience. We also have a marketing team to promote your skills, so you don’t have to.

We also participate in industry events like Oracle Java One and the Gartner Data and Analytics Summit, offering excellent opportunities for brand recognition during your job search. Be sure to watch our event videos for more insights.

 

SynergisticIT at Gartner Data and Analytics Summit 2023 (wistia.com)

SynergisticIT at Oracle Cloud World, Las Vegas 2023 (wistia.com)

Reach out to us if you are ready to get started in your Tech career Journey!