Economics at St Olaf College

St. Olaf's economics program produces graduates who outperform the national median by nearly $4,500 in first-year earnings while carrying just $27,000 in debt—substantially below the national average. That 0.48 debt-to-earnings ratio means graduates owe less than half their first-year salary, a comfortable position that most programs can't match. The numbers get even better over time, with median earnings climbing 24% to nearly $70,000 by year four.

The state picture is more nuanced. While St. Olaf beats the Minnesota median slightly, it trails several in-state competitors—most notably Carleton and St. Catherine, which both produce graduates earning $60,000+ in their first year. The 40th percentile state ranking reflects this middle-of-the-pack position among Minnesota's economics programs. That said, the state has strong programs overall, so being average in Minnesota still means solid outcomes.

For families weighing cost against return, St. Olaf delivers reliable value. The low debt burden matters more than the ranking suggests, especially compared to pricier liberal arts alternatives. Graduates leave with manageable loans and earnings that grow substantially in those crucial early career years. If your student is choosing between similarly priced Minnesota schools, the gap with top performers like Carleton warrants attention. But if they're attracted to St. Olaf's campus culture and financial aid package, the economics program won't hold them back.