Business/Managerial Economics at California Institute of Technology

A Business/Managerial Economics degree from Caltech—one of the world's most selective institutions at 3% admission—produces estimated first-year earnings that land right at the state median of $54,064. This should raise questions. When UCLA's comparable program yields $83,604 and even programs at less selective schools match or exceed Caltech's figures, something doesn't align with the school's elite reputation. The $24,000 in estimated debt translates to a manageable 0.44 debt-to-earnings ratio, but that's small comfort when the earnings themselves lag far behind what you'd expect from an institution of Caltech's caliber.

The caveat here matters: these figures are estimates based on other California programs because Caltech's graduate sample is too small to report publicly. That suggests this isn't a major focus at a school dominated by STEM fields. Similar programs across California show wide variation—from $83,604 at the top to figures in the mid-$50s—so the actual outcomes for Caltech's handful of business economics graduates could differ substantially.

If your child is dead-set on business economics, Caltech's brand might open doors the earnings data don't capture. But based on peer programs in California, you'd be paying elite-school prices and expectations for what appears to be middle-of-the-pack economic outcomes. Unless there's a compelling reason tied to Caltech's unique strengths, stronger business economics programs exist at more accessible California schools.