Psychology at Colby College

Colby's psychology graduates earn $40,842 in their first year—a figure that ranks in the 95th percentile nationally for this major. That's remarkable for psychology, a field where the national median sits at just $31,482. With an estimated debt load around $27,000 (based on other programs at Colby), the debt-to-earnings ratio of 0.66 suggests manageable repayment, far better than what most psychology majors face.

Here's the wrinkle: while these earnings crush national benchmarks, they land at just the 60th percentile within Maine, where Colby competes with several universities whose psychology graduates also do well. Similar programs in the state typically produce graduates earning in the mid-$30,000s, so Colby's premium appears significant but not transformative relative to in-state alternatives. The 26% earnings growth to $51,623 by year four shows solid momentum, though psychology careers often require graduate credentials for substantial income advancement.

For a family weighing Colby's highly selective admissions (7% acceptance rate) and investment in a liberal arts education, this program delivers strong early outcomes that outpace most psychology degrees nationwide. The estimated debt burden looks reasonable given first-year earnings, but families should recognize they're comparing against peer programs in Maine that might offer similar regional outcomes at potentially different price points. The real question is whether Colby's broader educational experience justifies any cost differential beyond what the earnings data alone suggests.