Analysis
With starting salaries over $53,000 and debt under $27,000, Carthage delivers business outcomes that significantly outperform national norms—ranking in the 78th percentile nationally while keeping debt below three-quarters of comparable programs. However, the Wisconsin context tells a more nuanced story: this performance sits squarely at the state median for both earnings and debt, placing Carthage in the 60th percentile among Wisconsin business programs. Four years out, graduates are earning $65,523, a solid 22% increase that suggests legitimate career progression.
For families weighing options within Wisconsin, the $7,000+ earnings gap compared to UW-Madison or Marquette deserves consideration, though Carthage's smaller debt load partially offsets this difference. The 0.50 debt-to-earnings ratio remains healthy—graduates earn nearly twice their debt in their first year—but at an 84% admission rate, you're paying liberal arts college prices for outcomes that match state averages rather than exceed them.
The practical verdict: Carthage won't handicap your child's business career, and they'll start with manageable debt and above-average national earnings. But if they can access UW-Madison or similar state flagships, those programs deliver meaningfully better returns. Carthage makes most sense for students who value the small college environment and can accept middle-of-the-pack Wisconsin outcomes rather than top-tier ones.
Where Carthage College Stands
Earnings vs. debt across all business administration, management and operations bachelors's programs nationally
Earnings Distribution
How Carthage College graduates compare to all programs nationally
Earnings Over Time
How earnings evolve from 1 year to 4 years after graduation
| School | 1 Year | 4 Years | Growth |
|---|---|---|---|
| Carthage College | $53,555 | $65,523 | +22% |
| University of Wisconsin-Madison | $67,699 | $81,952 | +21% |
| Marquette University | $63,285 | $73,164 | +16% |
| University of Wisconsin-Milwaukee | $56,774 | $66,918 | +18% |
| Concordia University-Wisconsin | $56,347 | $65,093 | +16% |
Compare to Similar Programs in Wisconsin
Business Administration, Management and Operations bachelors's programs at peer institutions in Wisconsin (37 total in state)
Scroll to see more →
| School | In-State Tuition | Earnings (1yr) | Earnings (4yr) | Median Debt | Debt/Earnings |
|---|---|---|---|---|---|
| $36,500 | $53,555 | $65,523 | $27,000 | 0.50 | |
| $11,205 | $67,699 | $81,952 | $20,500 | 0.30 | |
| $48,700 | $63,285 | $73,164 | $26,633 | 0.42 | |
| $48,421 | $60,187 | — | — | — | |
| $11,982 | $59,693 | $56,566 | $37,315 | 0.63 | |
| $8,212 | $57,809 | $63,085 | $25,000 | 0.43 | |
| National Median | — | $45,703 | — | $26,000 | 0.57 |
Career Paths
Occupations commonly associated with business administration, management and operations graduates
Computer and Information Systems Managers
Architectural and Engineering Managers
Biofuels/Biodiesel Technology and Product Development Managers
Financial Managers
Treasurers and Controllers
Investment Fund Managers
Natural Sciences Managers
Clinical Research Coordinators
Water Resource Specialists
Compensation and Benefits Managers
Human Resources Managers
Sales Managers
About This Data
Source: U.S. Department of Education College Scorecard (October 2025 release)
Population: Graduates who received federal financial aid (Title IV grants or loans). At Carthage College, approximately 26% of students receive Pell grants. Students who did not receive federal aid are not included in these figures.
Earnings: Median earnings from IRS W-2 data for graduates who are employed and not enrolled in further education, measured 1 year after completion. Earnings are pre-tax and include wages, salaries, and self-employment income.
Debt: Median cumulative federal loan debt at graduation. Does not include private loans or Parent PLUS loans borrowed on behalf of students.
Sample Size: Based on 102 graduates with reported earnings and 102 graduates with debt data. Small samples may not be representative.