Bachelor's · Northfield, Minnesota

Is Economics at Carleton College worth it?

Low confidence Low confidence: fewer than 40 graduates behind the earnings figures.

The verdict · all families, in-state, half paid with loans

Pays back in time: graduates typically recover the cost in about 3.2 years.

Earnings 1 year after graduating: $79,150; Treasury AY2020-21, AY2021-22 pooled earnings cohort measured in CY2022, CY2023, inflation adjusted to 2024 dollars
Earnings 4 years after graduating: $93,656; Treasury AY2017-2018, AY2018-2019 pooled earnings cohort measured in CY2022, CY2023, inflation adjusted to 2024 dollars
Typical federal debt at graduation: Not enough borrowers to report; NSLDS pooled AY2022-23, AY2023-24 cohort
Net cost to graduate, all families: $107k (likely $107k – $107k); AcadYr 2024-25, reported in IPEDS DCY2025-26
Earnings bump, year 4: $52k a year vs high-school graduates aged 25–34 in MN; 2023 ACS 5-year pooled, adjusted to 2024 dollars
Payback: 3.2 years (likely 2.4–4.5); Bump vs net cost plus loan interest
10-year net return: $211k (likely $54k – $395k); Today's dollars
20-year net return: $825k (likely $489k – $1.22M); Today's dollars
Odds of finishing (school-wide): 89%; Fall 2019 or AcadYr 2019-20 cohort (differs by institutional calendar), reported in IPEDS DCY2025-26