Analysis
Wake Forest's business program places graduates at nearly $77,000 in their first year—$30,000 above the national median for business degrees and $11,000 above North Carolina's state median. While that 60th percentile ranking among North Carolina programs might seem middling, it's important context: NC's small pool of business schools (only 6 total) includes some outliers, and Wake Forest substantially outearns the typical graduate statewide. More importantly, these graduates carry just $18,900 in debt versus a state median of $37,700, creating an exceptionally favorable financial foundation.
The program delivers steady growth, with earnings climbing 20% to $91,700 by year four. Combined with that low debt load—giving graduates a debt-to-earnings ratio of just 0.25—this means students can comfortably manage payments while building savings. The 95th percentile national ranking reflects Wake Forest's selective admissions (22% acceptance rate) translating into strong employment outcomes.
For families who can manage Wake Forest's overall costs, this represents a rare combination: elite institutional brand with practical debt management. The graduates aren't drowning in loans while waiting for their careers to mature—they're earning well from day one with minimal financial burden.
Where Wake Forest University Stands
Earnings vs. debt across all business/commerce bachelors's programs nationally
Earnings Distribution
How Wake Forest 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 |
|---|---|---|---|
| Wake Forest University | $76,722 | $91,708 | +20% |
| New York University | $77,828 | $115,546 | +48% |
| Northeastern University | $74,868 | $91,376 | +22% |
| Baylor University | $74,886 | $90,608 | +21% |
| Strayer University-North Carolina | $55,431 | $59,763 | +8% |
Compare to Similar Programs in North Carolina
Business/Commerce bachelors's programs at peer institutions in North Carolina (6 total in state)
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| School | In-State Tuition | Earnings (1yr) | Earnings (4yr) | Median Debt | Debt/Earnings |
|---|---|---|---|---|---|
| $64,758 | $76,722 | $91,708 | $18,899 | 0.25 | |
| $13,920 | $55,431 | $59,763 | $56,517 | 1.02 | |
| 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 Wake Forest University, approximately 9% 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 55 graduates with reported earnings and 48 graduates with debt data. Small samples may not be representative.