Analysis
Indiana State's business program delivers results that lag behind most competitors—both nationally and within Indiana itself. First-year graduates earn $43,458, which falls below the state median of $47,406 and lands in just the 26th percentile nationally. Within Indiana, this program ranks at the 40th percentile, meaning three-fifths of comparable business programs produce higher earnings. The gap is substantial: nearby IU Bloomington graduates earn $71,100, while even regional IU campuses like South Bend ($48,238) outpace Indiana State by nearly $5,000.
The debt picture offers modest relief. At $24,562, graduates borrow slightly less than the state median, keeping the debt-to-earnings ratio manageable at 0.57. Earnings also show healthy growth—17% over four years—suggesting graduates aren't stuck at their starting salary. Still, even after four years, the $50,859 median remains well below what graduates from top Indiana programs earn in year one.
For a high-access institution serving 39% Pell Grant recipients, these outcomes reflect the school's mission more than its educational quality. But parents should understand the tradeoff: their child will likely start $4,000-$7,000 behind peers from other Indiana business programs, a gap that persists even as earnings grow. If your student has options at IU regional campuses or can gain admission to Bloomington or Notre Dame, those investments offer significantly stronger returns. Indiana State makes sense primarily as an affordable access point, not as a competitive business credential.
Where Indiana State University Stands
Earnings vs. debt across all business/commerce bachelors's programs nationally
Earnings Distribution
How Indiana State University 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 |
|---|---|---|---|
| Indiana State University | $43,458 | $50,859 | +17% |
| Indiana University-Bloomington | $71,100 | $89,404 | +26% |
| University of Notre Dame | $73,170 | $84,414 | +15% |
| Indiana University-Indianapolis | $52,467 | $59,798 | +14% |
| Holy Cross College | $33,043 | $58,185 | +76% |
Compare to Similar Programs in Indiana
Business/Commerce bachelors's programs at peer institutions in Indiana (22 total in state)
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| School | In-State Tuition | Earnings (1yr) | Earnings (4yr) | Median Debt | Debt/Earnings |
|---|---|---|---|---|---|
| $9,992 | $43,458 | $50,859 | $24,562 | 0.57 | |
| $62,693 | $73,170 | $84,414 | — | — | |
| $11,790 | $71,100 | $89,404 | $19,500 | 0.27 | |
| $8,179 | $54,860 | $57,188 | $25,250 | 0.46 | |
| $10,449 | $52,467 | $59,798 | $22,003 | 0.42 | |
| $8,179 | $48,238 | $51,179 | $20,500 | 0.42 | |
| 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 Indiana State University, approximately 39% 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 66 graduates with reported earnings and 74 graduates with debt data. Small samples may not be representative.