Analysis
Harvey Mudd's selectivity (13% admission rate, 1537 average SAT) suggests an elite institution, yet comparable physics programs in California suggest first-year earnings around $50,200βroughly at the state median but trailing several Cal State campuses and UCs that report actual outcomes between $54,000 and $64,000. The estimated $23,120 in debt creates a manageable 0.46 debt-to-earnings ratio, though California's median physics graduate carries notably less ($16,800). For a highly selective school drawing exceptional students, these estimated figures place the program squarely in the middle of the pack rather than at the premium end you might expect.
The practical concern is opportunity cost. Physics graduates from peer California programs often secure higher-paying positions immediately, and Harvey Mudd's $75,000+ annual cost of attendance means many students will carry federal loan limits or more. While the school's prestige and rigorous curriculum may yield stronger long-term career trajectories not captured in first-year earnings, similar programs at UCLA or Cal Poly Pomona appear to launch graduates into better-paying initial positions with comparable or lower debt burdens.
Given the limited data and the school's elite reputation, Harvey Mudd likely produces outcomes that diverge from these state-level estimates. However, without actual graduate data, you're making an expensive bet that the institution's brand and network will compensate for what appears on paper as middle-tier performance in a state with strong public alternatives.
Where Harvey Mudd College Stands
Earnings vs. debt across all physics bachelors's programs nationally
Compare to Similar Programs in California
Physics bachelors's programs at peer institutions in California (58 total in state)
Scroll to see more β
| School | In-State Tuition | Earnings (1yr)* | Earnings (4yr) | Median Debt* | Debt/Earnings |
|---|---|---|---|---|---|
| $66,255 | $50,219* | β | $23,120* | β | |
| $7,439 | $64,045* | $51,682 | $23,000* | 0.36 | |
| $13,747 | $60,495* | $73,644 | $21,100* | 0.35 | |
| $7,675 | $57,114* | β | β* | β | |
| $7,739 | $56,018* | $66,529 | $19,069* | 0.34 | |
| $14,965 | $53,597* | $88,722 | $15,982* | 0.30 | |
| National Median | β | $47,670* | β | $23,304* | 0.49 |
Career Paths
Occupations commonly associated with physics graduates
Physicists
Natural Sciences Managers
Clinical Research Coordinators
Water Resource Specialists
Physics Teachers, Postsecondary
Secondary School Teachers, Except Special and Career/Technical Education
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 Harvey Mudd College, approximately 14% 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.
Estimated Earnings: Actual earnings data is not available for this program (typically due to privacy thresholds when fewer than 30 graduates reported earnings). The estimate shown is based on the median of 11 similar programs in CA. Actual outcomes may vary.