Analysis
McKendree's psychology graduates start modestly at $32K but see impressive 36% earnings growth by year four—reaching $43K puts them well ahead of typical psychology majors nationally. However, relative to other Illinois psychology programs, this is a middle-of-the-pack outcome, landing in just the 40th percentile statewide despite being near the national median.
The debt picture requires careful consideration. At $23,250, it's slightly below both state and national averages, and the 0.73 debt-to-earnings ratio means graduates owe less than a year's starting salary—manageable for a psychology degree. The strong earnings trajectory helps: by year four, that debt represents barely half of annual income. Still, starting at $32K means the first few years will likely require careful budgeting, especially compared to Illinois leaders like Northwestern ($44K starting) or even mid-tier programs like National Louis ($36K).
For families looking at McKendree, the key question is whether the university's other strengths justify the relatively average earnings for Illinois. The growth curve is encouraging and suggests graduates find their footing, but you're not getting an earnings premium that would justify significant additional cost over state schools. If McKendree is financially comparable to public options and offers a better fit culturally or academically, the numbers work. If it requires substantially more borrowing or out-of-pocket expense, that's harder to justify given the earnings performance.
Where McKendree University Stands
Earnings vs. debt across all psychology bachelors's programs nationally
Earnings Distribution
How McKendree 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 |
|---|---|---|---|
| McKendree University | $31,919 | $43,254 | +36% |
| Northwestern University | $44,088 | $61,389 | +39% |
| Loyola University Chicago | $32,463 | $52,586 | +62% |
| Augustana College | $29,801 | $50,244 | +69% |
| Illinois State University | $32,104 | $49,195 | +53% |
Compare to Similar Programs in Illinois
Psychology bachelors's programs at peer institutions in Illinois (52 total in state)
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| School | In-State Tuition | Earnings (1yr) | Earnings (4yr) | Median Debt | Debt/Earnings |
|---|---|---|---|---|---|
| $34,070 | $31,919 | $43,254 | $23,250 | 0.73 | |
| $65,997 | $44,088 | $61,389 | $14,500 | 0.33 | |
| $13,288 | $42,911 | — | $5,050 | 0.12 | |
| $12,320 | $39,980 | — | $24,562 | 0.61 | |
| $20,844 | $39,596 | — | $40,645 | 1.03 | |
| $12,345 | $35,798 | — | $37,170 | 1.04 | |
| National Median | — | $31,482 | — | $25,500 | 0.81 |
Career Paths
Occupations commonly associated with psychology graduates
Industrial-Organizational Psychologists
Clinical and Counseling Psychologists
Psychologists, All Other
Neuropsychologists
Clinical Neuropsychologists
Psychology Teachers, Postsecondary
Managers, All Other
Loss Prevention Managers
Social Science Research Assistants
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 McKendree University, approximately 29% 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 31 graduates with reported earnings and 57 graduates with debt data. Small samples may not be representative.