You know there are a ton of great reasons to major in economics — the job prospects, the intellectual challenge, and the chance to follow in the footsteps of some of the greatest thinkers of all time.
We at Zippia decided to take a look at the data on the 464 institutions of higher learning in the Empire State to determine which programs offer the best career opportunities for economics majors.
After the dust settled, we’re left with this set of the top colleges for economics majors in New York:
If you go to one of these schools, chances are, you’re not surprised. After all, you know how great you have it.
But for the rest of you — keep reading and we’ll get to just why these schools have some of the best economics programs the Empire State has to offer.
Economics is, at its core, the study of choice under constraints. When it comes to identifying the best economics schools we wanted to approach the ranking like economics major would, by looking at data on how schools perform and comparing them to one another.
What better way to optimize your choice?
So with that mind, we looked at the following data from the NCES (National Center For Education Statistics) and College Scorecard data from ED.gov to understand what economics department offer the best career opportunities:
It’s hard to argue with a selective school that features economics and produces strong earning potential for your career.
After we had this data, we looked at the 464 institutions of higher learning in New York. Of which, only 70 offer an economics major.
We then ranked each of these schools from 1 to 70 for each of the criteria above with 1 being the best in any given criteria.
Next, we averaged the ranks for each school to create an “Economics Quality Index”. The school with the best score on the “Economics Quality Index”, Baruch College, earned the distinction of being the ‘Best College For Economics’ in New York.
This SUNY Campus in Manhattan takes the cake for having the best Economics Department in the state of New York. Students get a real bang for their buck – it’s the 9th least expensive program, but graduates rank in the top 20 for incomes after graduation from the school’s Bert W. Wasserman Department of Economics and Finance.
More good news: It’s the 6th easiest school to get into, and a high percentage of Baruch College students are still working in the field of economics even 10 years after graduation.
It’s no surprise, but Columbia economic students graduates come out of school earning the most money by far of any other program in the state – even years down the road.
They admit more students than anywhere else, and Columbia’s economics department is 3rd for percentage of graduates who complete their education – at about 90%.
There are more than 50 faculty members and 100 PhD students at Cornell, making the lives of their 5,000 students a lot easier to manage.
Cornell grads are 2nd only to Columbia when it comes to salaries post graduation, and surprisingly, Cornell econ students aren’t breaking the bank either. It’s actually the 4th most affordable economics program in NY State.
A small, but awesome economics experience at Barnard sits under the radar for women who want to study economics in the heart of New York City. As a bonus, this small college is affiliated with Columbia, meaning you’d get the resources from a larger institution.
Barnard is expensive, but the admission rates and graduation ranks mean you get what you pay for.
Stony Brook, a SUNY affiliate, is well known for its Center for Game Theory in Economics program. This department ranks in the top 20 in the state for graduation rate, salaries after graduation, and acceptance rate.
The cost of earning a degree at Binghamton is far less than 67% of the other econ departments in the state, but graduates come out of school earning the 10th highest salaries. That ratio has to sound promising to just about anyone attending school, especially astute economics students.
The Econ Department at this SUNY campus is top notch in many ways, in comparison to the rest of the state. More than half of all graduates are still working in the field of economics 10 years after completing their degrees. It’s also the 10th least expensive program, and the program leaves students with hardly any debt – meaning you get the attention of great faculty and don’t pay through the nose, either.
This world-class program ranks in the top 5 for several categories in the state, including the high salaries that econ grads from Colgate command coming out of school. Colgate also has the 8th highest admission rank, and 91% of students make it to graduation, which is the 5th highest rate in New York.
This private school has 4 campuses in downtown, and the economics program is very small. That probably appeals to many students who want a close, personal attention. Numbers wise, Yeshiva boasts a high graduation rate in near 90%, and surprisingly, graduates command nearly as high a salary as the more recognizable programs in NY state.
Plus, Yeshiva ranks 2nd in New York for number of graduates who are still working in the field of economics 10 years after completing their degrees.
This SUNY campus also gets high marks for its Economics Department when it comes to several categories, including a 56% admission rate, a 72% graduation rate, and a price tag that’s only about $20,000 a year.