At $19,353/yr net price, Illinois Institute of Technology graduates earn $82,592/yr within 10 years of enrollment, which is $48,592/yr above the median for high school graduates.
Cost vs. Outcomes
| Metric | Value |
|---|---|
| Average Net Price (per year) | $19,353 |
| Estimated 4-Year Cost | $77,412 |
| Median Earnings (10yr post-entry) | $82,592/yr |
| Earnings Premium vs. HS Diploma | +$48,592/yr |
| Estimated Break-Even | 1.6 years |
| Graduation Rate (6-year) | 72.4% |
| Median Debt at Graduation | $25,000 |
What You'll Actually Pay
Average net price by family income
| Family Income | Estimated Net Price |
|---|---|
| $0 - $30,000 | $13,222/yr |
| $30,001 - $48,000 | $15,488/yr |
| $48,001 - $75,000 | $16,566/yr |
| $75,001 - $110,000 | $22,765/yr |
| $110,001+ | $31,456/yr |
Earnings by Major
Top programs ranked by median earnings
| Program | Level | Median Earnings | Median Debt |
|---|---|---|---|
| Electrical, Electronics and Communications Engineering. | Master | $99,683 | |
| Design and Applied Arts. | Master | $90,856 | |
| Computer Science. | Master | $90,412 | |
| Chemical Engineering. | Master | $83,546 | |
| Business Administration, Management and Operations. | Master | $83,177 | |
| Computer Science. | Bachelor | $78,971 | $23,750 |
| Chemistry. | Master | $74,200 | |
| Psychology, General. | Doctoral | $73,949 | |
| Computer and Information Sciences, General. | Master | $73,949 | |
| Mechanical Engineering. | Master | $70,680 |
The Risk Factor
72.4% of students at Illinois Institute of Technology graduate within 6 years. A significant share of students finish, but roughly 28% do not complete their degree.
Analysis
Illinois Institute of Technology delivers strong financial returns despite being a private engineering school in an expensive city. Your median earnings of $82,592 after ten years easily justify the $25,000 typical debt load, creating a debt-to-income ratio that most graduates can manage comfortably.
The engineering and computer science programs that define this school pay strongly well. Electrical engineering graduates earn nearly $100,000 annually, while computer science and chemical engineering majors also command strong salaries in Chicago's tech and industrial sectors. Even the design program, often a lower-earning field elsewhere, produces graduates earning over $90,000 here.
Your biggest financial risk is the 28% of students who don't graduate. The 72% completion rate means roughly one in four students pays private school prices without getting the degree that unlocks those high engineering salaries. If you're struggling with math and science fundamentals, this expensive bet becomes much riskier.
This school works financially if you're committed to STEM fields and can handle the academic intensity. Chicago's strong job market for engineers and tech professionals means you won't need to relocate for good opportunities. The relatively low percentage receiving aid suggests merit scholarships may be competitive, so strong academic credentials help with both admission and costs.
Skip Illinois Tech if you're uncertain about engineering or considering lower-paying majors not listed among the top earners. The high net price makes sense only if you're confident you'll complete a program that leads to those $80,000-plus salaries.
Frequently Asked Questions
Is Illinois Institute of Technology worth the cost?
For engineering and computer science students, yes. IIT graduates earn $82,592 after 10 years with only $25,000 in median debt, making it a solid financial investment. However, the 72% graduation rate means nearly 3 in 10 students don't finish.
What are the best paying majors at Illinois Institute of Technology?
Electrical engineering leads at $99,683, followed by design and applied arts at $90,856 and computer science at $90,412. These technical programs justify the cost better than general business programs, which average $83,177.
How much debt do Illinois Institute of Technology students graduate with?
The median debt is $25,000, which is manageable given the strong earning potential in engineering fields. With a net price of $19,353 per year, most students can graduate without excessive borrowing.
Does Illinois Institute of Technology have good job placement after graduation?
The $82,592 average salary 10 years out suggests strong employment outcomes, particularly in engineering and tech roles. Chicago's job market provides good opportunities for IIT's technical graduates.