NEW JERSEY— Only two New Jersey institutions have graduates earning a six-figure median salary a decade after enrollment, according to federal data covering 146 colleges and universities.
Princeton and Stevens Institute of Technology lead the state in median earnings among four-year colleges, with former students earning more than $100,000 a year a decade after enrolling.
Both schools have strong concentrations in technology-related fields, including computer science, engineering, economics and finance.
But, those high-paying professional fields also face growing disruption from artificial intelligence.
Goldman Sachs has estimated that widespread artificial intelligence adoption could displace 6 percent to 7 percent of U.S. jobs.
"People entering the workforce need to understand where technology is heading and where human skills still matter most," Yana van der Meulen Rodgers, a professor and chair of the Department of Labor Studies and Employment Relations at Rutgers University, said.
Health care and education continue to grow as demographic changes drive demand for essential services, Rodgers said.
The state's education and health services sector added about 29,000 jobs in August, according to the U.S. Bureau of Labor Statistics.
Health care and social assistance accounted for nearly all of that increase, adding 28,400 jobs.
Ten physician specialties ranked among the careers that could reach $1 million in cumulative gross earnings fastest, according to a report released in August.
The analysis calculated earnings based on training time, early-career pay and salaries after full qualification.
Anesthesiologists, for example, ranked third in the analysis, with an estimated $360,600 average annual salary and about 3.9 years to reach $1 million in cumulative earnings.
"We are not just replacing tasks, we are transforming how work gets done," said Sam DeMaria, chair of anesthesiology at Northwell's Lenox Hill Hospital.
The highest-paying careers included:
For students considering highly educated professions, that may mean looking beyond the job title and examining the skills the work requires, DeMaria said.
Communication, judgment, problem-solving and the ability to adapt can matter alongside technical knowledge, he added.
"The next generation needs to be the agents of change, or they will become victims of modernity in the form of job loss and erosion," he said.
Stevens Institute of Technology had the highest median earnings among New Jersey colleges, with former students earning a median of $112,538 a year.
Princeton University ranked next, at $108,590.
The figures, drawn from federal tax records, reflect the universities' net price— the amount students paid after grants and scholarships were taken into account.
Students who paid for college through family income, private scholarships or institutional aid may not be represented.
Among 49 four-year institutions included in the analysis, the median annual net price was $18,745.
Stevens Institute of Technology had a listed net price of $41,346 a year. Princeton University, by comparison, had a listed annual net price of $6,128.
Compare New Jersey colleges and career schools by graduation rate, average annual net price and median earnings. The table below uses data from the U.S. Department of Education's College Scorecard.
If having trouble accessing the table, click here.
Source: U.S. Department of Education College Scorecard
Editor's Note: Average annual cost is the College Scorecard's average net price, the amount students paid after financial aid. The database includes only institutions with reported values for graduation rate, average annual cost and median earnings. Schools missing any of those three measures were excluded.
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