Analysis
Gustavus Adolphus delivers solid outcomes for business majors, placing graduates slightly above both the national median ($47,506) and right at the Minnesota state median ($49,881) in first-year earnings. The $25,625 median debt creates a manageable 0.51 debt-to-earnings ratio—meaning graduates owe roughly half their first-year salary—which is entirely reasonable for a liberal arts college. What's particularly encouraging is the 19% earnings bump by year four, reaching $59,351, which actually surpasses what Saint Cloud State graduates earn despite their stronger starting point.
The 60th percentile ranking among Minnesota business programs is notable in a state with only seven schools offering this degree. While Saint Cloud State graduates start $10,000 higher, Gustavus students nearly close that gap within four years, suggesting the college's focus on critical thinking and communication skills may provide longer-term career mobility. The moderate sample size means these numbers are reasonably reliable, though not definitive.
For families paying private college tuition, this program offers a functional return—graduates can manage their debt load and see meaningful salary growth. The roughly $50,000 starting salary won't make anyone wealthy, but combined with steady advancement and reasonable debt, it represents a workable path into business careers without the financial strain that sometimes accompanies liberal arts degrees.
Where Gustavus Adolphus College Stands
Earnings vs. debt across all business/commerce bachelors's programs nationally
Earnings Distribution
How Gustavus Adolphus 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 |
|---|---|---|---|
| Gustavus Adolphus College | $49,881 | $59,351 | +19% |
| New York University | $77,828 | $115,546 | +48% |
| Wake Forest University | $76,722 | $91,708 | +20% |
| Northeastern University | $74,868 | $91,376 | +22% |
| Baylor University | $74,886 | $90,608 | +21% |
Compare to Similar Programs in Minnesota
Business/Commerce bachelors's programs at peer institutions in Minnesota (7 total in state)
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| School | In-State Tuition | Earnings (1yr) | Earnings (4yr) | Median Debt | Debt/Earnings |
|---|---|---|---|---|---|
| $54,310 | $49,881 | $59,351 | $25,625 | 0.51 | |
| $10,117 | $59,378 | — | — | — | |
| $14,318 | $48,738 | — | $23,250 | 0.48 | |
| National Median | — | $47,506 | — | $26,000 | 0.55 |
Career Paths
Occupations commonly associated with business/commerce graduates
Sales Managers
Industrial Production Managers
Quality Control Systems Managers
Geothermal Production Managers
Biofuels Production Managers
Biomass Power Plant Managers
Hydroelectric Production Managers
Construction Managers
Administrative Services Managers
Facilities Managers
Security Managers
Chief Executives
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 Gustavus Adolphus College, approximately 21% 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 58 graduates with reported earnings and 54 graduates with debt data. Small samples may not be representative.