At $30,042/yr net price, Drake University graduates earn $71,901/yr within 10 years of enrollment, which is $37,901/yr above the median for high school graduates.
Cost vs. Outcomes
| Metric | Value |
|---|---|
| Average Net Price (per year) | $30,042 |
| Estimated 4-Year Cost | $120,168 |
| Median Earnings (10yr post-entry) | $71,901/yr |
| Earnings Premium vs. HS Diploma | +$37,901/yr |
| Estimated Break-Even | 3.2 years |
| Graduation Rate (6-year) | 77.3% |
| Median Debt at Graduation | $23,000 |
What You'll Actually Pay
Average net price by family income
| Family Income | Estimated Net Price |
|---|---|
| $0 - $30,000 | $27,372/yr |
| $30,001 - $48,000 | $25,335/yr |
| $48,001 - $75,000 | $26,358/yr |
| $75,001 - $110,000 | $32,215/yr |
| $110,001+ | $32,993/yr |
Earnings by Major
Top programs ranked by median earnings
| Program | Level | Median Earnings | Median Debt |
|---|---|---|---|
| Pharmacy, Pharmaceutical Sciences, and Administration. | Doctoral | $113,335 | |
| Management Sciences and Quantitative Methods. | Bachelor | $78,971 | $23,979 |
| Educational Administration and Supervision. | Master | $71,255 | $23,522 |
| Business Administration, Management and Operations. | Master | $69,338 | |
| Mathematics. | Bachelor | $65,238 | |
| Management Information Systems and Services. | Bachelor | $64,990 | |
| Computer and Information Sciences, General. | Bachelor | $62,409 | $19,000 |
| Accounting and Related Services. | Master | $60,623 | |
| Curriculum and Instruction. | Master | $59,485 | |
| Accounting and Related Services. | Bachelor | $59,485 | $20,000 |
The Risk Factor
77.3% of students at Drake University graduate within 6 years. A significant share of students finish, but roughly 23% do not complete their degree.
Analysis
Drake University gives you a solid return with manageable risk. You pay about $30,000 a year net, but the median debt at graduation is $23,000 and median earnings ten years out clear $71,000. That debt-to-earnings ratio is healthy, and the 77% graduation rate means you are likely to actually finish and start earning, which is where the real financial risk lives at most schools.
Business and quantitative majors are where Drake pays off. Management Sciences and Quantitative Methods graduates top the list near $79,000, and the Des Moines job market backs this up. Des Moines is a major insurance and financial services hub, which explains why accounting, management information systems, and computer science all land in the $59,000 to $65,000 range. If you are heading into one of these fields, Drake sits close to the center of the employers hiring for them.
Mathematics graduates earn around $65,000, strong for a math degree and a sign the analytical pipeline into local finance firms is real. Drake does not list bachelor-level salary data for its humanities, arts, or education programs, so treat those fields as unknowns and ask the department directly for outcomes before you commit.
The net price tiers hold a specific warning. If your family earns under $48,000, you pay about $25,000 to $27,000 a year. If your family earns over $75,000, the price jumps past $32,000. Aid compresses the cost for lower-income families, but the gap between tiers is small, so a middle-income family gets little relief.
Drake fits you if you are targeting accounting, finance, analytics, or tech and plan to work in the Des Moines corridor. If you want a low-paying field with no listed earnings data, price it carefully first.
Frequently Asked Questions
Is Drake University worth the cost?
Drake University's value depends heavily on your major. Pharmacy graduates earn $113,335 annually, making the $30,042 yearly cost worthwhile, but general business and math majors earn around $65,000-$69,000, which barely justifies the price.
What is Drake University's return on investment?
Drake's ROI varies dramatically by program. The pharmacy school delivers strong returns, but most other majors produce average earnings of $71,901 after a $120,000+ education. The math doesn't work well for non-pharmacy students.
How much debt do Drake University students graduate with?
Drake students graduate with a median debt of $23,000, which is manageable compared to the school's high costs. However, this figure likely reflects significant family financial support rather than generous aid packages.
Which Drake University programs are worth the money?
Drake's pharmacy program justifies the cost with $113,335 starting salaries. Management sciences shows decent returns at $78,971, but most other programs struggle to deliver value at Drake's price point.