Analysis
The University of Chicago Economics degree produces outcomes that justify its elite reputation, with first-year earnings of $92,075 nearly doubling Illinois' state median of $47,048. Among Illinois' 35 economics programs, this ranks at the very top—ahead even of Northwestern's already impressive $84,932. Nationally, graduates land in the 95th percentile for earnings while carrying debt in the 5th percentile, a combination virtually unmatched among economics programs nationwide.
The financial picture gets stronger over time, with earnings jumping 39% to $127,832 by year four. At a 0.14 debt-to-earnings ratio, graduates owe roughly six weeks' salary—manageable by any standard. Even factoring in the program's extreme selectivity (5% admission rate), these returns reflect more than just student quality; they signal the value of Chicago's rigorous economics curriculum and powerful alumni network in finance, consulting, and policy.
The practical calculation here is straightforward: if your child can handle the academic intensity and gain admission, this program delivers first-quartile outcomes nationally while keeping debt exceptionally low at $13,197. For families concerned about ROI in the liberal arts, economics at Chicago is about as close to a sure bet as higher education offers.
Where University of Chicago Stands
Earnings vs. debt across all economics bachelors's programs nationally
Earnings Distribution
How University of Chicago 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 |
|---|---|---|---|
| University of Chicago | $92,075 | $127,832 | +39% |
| Northwestern University | $84,932 | $105,795 | +25% |
| University of Illinois Urbana-Champaign | $58,921 | $75,600 | +28% |
| University of Illinois Chicago | $37,767 | $63,369 | +68% |
| Northern Illinois University | $45,386 | $63,359 | +40% |
Compare to Similar Programs in Illinois
Economics bachelors's programs at peer institutions in Illinois (35 total in state)
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| School | In-State Tuition | Earnings (1yr) | Earnings (4yr) | Median Debt | Debt/Earnings |
|---|---|---|---|---|---|
 University of ChicagoChicago | $66,939 | $92,075 | $127,832 | $13,197 | 0.14 |
 Northwestern UniversityEvanston | $65,997 | $84,932 | $105,795 | $16,227 | 0.19 |
 Wheaton CollegeWheaton | $43,930 | $62,889 | $60,894 | $21,000 | 0.33 |
 University of Illinois Urbana-ChampaignChampaign | $16,004 | $58,921 | $75,600 | $21,228 | 0.36 |
 Olivet Nazarene UniversityBourbonnais | $37,940 | $54,169 | — | $27,000 | 0.50 |
 Lake Forest CollegeLake Forest | $54,202 | $53,529 | $62,870 | $27,000 | 0.50 |
| National Median | — | $51,722 | — | $22,816 | 0.44 |
Career Paths
Occupations commonly associated with economics graduates
Economists
Environmental Economists
Data Scientists
Business Intelligence Analysts
Clinical Data Managers
Statisticians
Biostatisticians
Economics Teachers, Postsecondary
Market Research Analysts and Marketing Specialists
Search Marketing Strategists
Secondary School Teachers, Except Special and Career/Technical Education
Survey Researchers
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 University of Chicago, 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.
Sample Size: Based on 124 graduates with reported earnings and 84 graduates with debt data. Small samples may not be representative.