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Date Posted: 12:00:29 01/05/17 Thu
On the topic of costs of an Ivy education, I wanted to weigh in on its relative value over time, which makes the student activity fees less important for the typical Ivy parent. While I would have preferred that tuition had not accelerated at a faster pace than inflation, it is my judgment that the Ivy league education is far more valuable today compared to when I went to college.
I will focus on value advantages solely from a student athlete perspective. For student athletes today, there is much more generous financial aid, better facilities, equipment and travel accommodations, remarkable summer internship opportunities, excellent networking with elite employers for post college jobs, generous stipends for undergraduate research projects and international summer projects, and increased access to smaller classes and faculty mentorships. The Ivy brand plays a key role in student athletes securing jobs with highly competitive employers in IB, PE, consulting, and high tech firms like Google, Apple, Facebook, etc.
Looking at post college for the average Ivy student athletes, especially for team sports like football, basketball, and hockey, there is no comparison to several decades ago. In my era, student athletes tended to get higher paying jobs after we had completed our graduate degrees. Today, within two years after college graduation, the average salaries and bonuses are well above $100K with the majority of the former student athletes being able to take luxury vacations all over the world. For the high percentage of athletes going on to getting their MBAs and law degrees, their average starting salaries and bonuses have jumped to $150K to $200K.
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