Carnegie Mellon University
Pittsburgh, Pennsylvania · Private Nonprofit · 11.7% acceptance rate
ROI Score: 97/100 · Exceptional Value
Carnegie Mellon scores 97 (Exceptional Value) -- the highest score in this dataset. The number is earned: a 3.4-year payback period, $84,000 median 6-year earnings, a 94.1% completion rate, and a 95% repayment rate. Computer Science (270 graduates) earns $171,264 at year one and $268,121 at year four -- the highest 4-year program earnings on this site. Electrical Engineering (157 graduates) earns $139,337 at year one. CMU's reputation in CS, machine learning, and robotics is reflected directly in the Scorecard data. The school is private, selective (11.7% admission rate), Pittsburgh-based, with 7,304 undergraduates. A 16% Pell rate is moderate but notable for a school of this caliber. Not every major performs equally: Drama earns $32,967 at year one (debt-to-earnings 0.758, ROI grade D), and Fine Arts earns $32,597. CMU's reputation does not extend evenly to all programs -- students entering arts and theater face a very different financial reality than those in technical fields.
Graduates recoup their total investment in just 3.4 years. The national average for 4-year schools is closer to 8-10 years.
Carnegie Mellon University
Quick Numbers
| In-state tuition + fees | $66,246/yr |
| Out-of-state tuition + fees | $66,246/yr |
| Average net price | $31,944/yr |
| Total 4-year cost (net) | $127,776 |
| Median earnings (10yr post-entry) | $114,862 |
| Median earnings (6yr post-entry) | $84,000 |
| Median debt at graduation | $21,750 |
| Estimated monthly loan payment | $231 |
| Estimated payback period | 3.4 years |
| 6-year graduation rate | 94.1% |
| Undergraduate enrollment | 7,304 |
Data as of 2024-2025. Source: College Scorecard API (U.S. Department of Education).
The Full Financial Picture
The sticker price at Carnegie Mellon University is $66,246/year. But sticker price isn't what most students pay. After grants, scholarships, and financial aid, the average student pays a net price of $31,944/year, or roughly $127,776 over four years.
That net price varies significantly by family income. The lowest-income families (under $30,000/year) pay an average of $9,097/year, while families earning over $110,000 pay $51,480/year.
The median graduate leaves with $21,750 in federal loan debt, translating to an estimated monthly payment of $231 on a standard 10-year repayment plan. Against median earnings of $114,862 ten years out, the debt-to-earnings ratio is 0.26 - well within manageable territory.
Net Price by Family Income
What families actually pay after grants and scholarships, by income bracket.
| Family Income | Avg Net Price/Year |
|---|---|
| $0 - $30,000 | $9,097 |
| $30,001 - $48,000 | $6,994 |
| $48,001 - $75,000 | $14,468 |
| $75,001 - $110,000 | $24,865 |
| $110,001+ | $51,480 |
Cost by Income Bracket Explained
Lower-income families (under $30K)
Families earning under $30,000 pay $9,097 per year -- roughly $36,000 over four years. Against median 6-year earnings of $84,000 and a 3.4-year payback, CMU is financially accessible for low-income students who gain admission and enter high-earning programs. The school's financial aid model meets demonstrated need, and the 16% Pell rate suggests admitted low-income students do enroll.
Middle-income families ($30K-$110K)
The 30,001-48,000 bracket actually pays less than the lowest bracket at $6,994 per year -- a quirk that reflects maximum aid deployment for the lower-middle bracket. The 48,001-75,000 bracket rises to $14,468, and the 75,001-110,000 bracket reaches $24,865. The slope from $30k to $110k is moderate and manageable for families who can manage $25,000/year -- far less than the $66,000+ sticker.
Higher-income families ($110K+)
Families earning $110,000+ pay $51,480 per year -- approaching sticker at roughly $206,000 all-in over four years. At a 3.4-year payback, CMU is one of the rare schools where even full-pay scenarios pencil reasonably for students entering top programs. A Drama or Fine Arts student paying $206,000 for a degree earning $32,967 in year one cannot make that math work without significant post-graduation income growth or a graduate degree.
Earnings by Major
Top 10 most popular majors at Carnegie Mellon University with available earnings data.
| Major | Median Earnings | Grade |
|---|---|---|
| Computer Science | $268,121 | A |
| Statistics | $156,743 | A |
| Electrical Engineering | $250,168 | A |
| Business Administration, Management, and Operations | $160,783 | A |
| Systems Science and Theory | $146,929 | A |
| Computer and Information Sciences | $187,437 | - |
| Mechanical Engineering | $105,623 | B+ |
| Drama/Theatre Arts and Stagecraft | $40,073 | D |
| Economics | $144,886 | B+ |
| Design and Applied Arts | $138,588 | B |
Earnings reflect median 4-year post-completion (or 1-year where 4-year unavailable). Grades based on debt-to-earnings ratio.
Program Analysis
Why these programs deliver their earnings outcomes.
Computer Science
CMU Computer Science is one of the most valuable undergraduate programs in the country by any earnings metric. Two hundred seventy graduates earn a median $171,264 in year one and $268,121 by year four. The debt-to-earnings ratio of 0.125 (ROI grade A) means graduates carry roughly $21,442 in debt -- a sum that represents weeks of starting salary. CMU CS graduates enter software engineering, AI research, and quantitative roles at technology companies, financial firms, and research labs at rates that explain the four-year trajectory. The school's location in Pittsburgh has not constrained placement: the alumni network and recruiting relationships are national and global.
Electrical Engineering
One hundred fifty-seven Electrical Engineering graduates leave CMU earning a median $139,337 at year one and $250,168 at four years. The four-year figure reflects the premium CMU EE graduates command in semiconductors, robotics, and systems engineering -- industries where CMU's research reputation translates directly to employer demand. The debt-to-earnings ratio of 0.160 (ROI grade A) is clean. This program delivers one of the strongest four-year earnings jumps in the dataset: the gap between year one and year four ($110k) suggests rapid advancement into senior technical or specialized roles.
Business Administration, Management, and Operations
The Tepper School of Business runs a distinctive business program that blends quantitative methods with management: 151 graduates, $95,891 at year one, $160,783 at four years. The debt-to-earnings ratio of 0.242 (ROI grade A) shows the economics are sound. Business students at CMU benefit from proximity to a computer science environment that shapes how they think and sell -- consulting firms, technology companies, and financial institutions recruit here specifically for analytically trained business graduates. The four-year figure ($160,783) reflects that trajectory.
Statistics
Statistics (172 graduates) earns $93,111 at year one and $156,743 at four years, ROI grade A with a 0.230 debt-to-earnings ratio. Statistics at CMU benefits from the school's methodological culture -- graduates who can apply statistical methods to data science, quantitative finance, and research roles are in sustained national demand. The four-year earnings trajectory ($156,743) reflects movement into senior data science and quantitative roles. This is one of the cleaner ROI programs in the school, combining high volume (172 graduates is a real sample size) with consistently strong outcomes.
Mechanical Engineering
Mechanical Engineering (107 graduates) earns $76,523 at year one and $105,623 at four years -- lower than CMU's headline CS numbers but a strong outcome for the field. The debt-to-earnings ratio of 0.298 (ROI grade B+) is solid. ME graduates at CMU enter manufacturing, robotics, automotive, and defense sectors. The school's Carnegie Mellon Robotics Institute connection gives ME graduates access to a research network that shapes career trajectories differently than at most engineering schools. The four-year figure crossing $100k reflects advancement in specialized mechanical and robotic systems roles.
How Graduates Do
Earnings
Loan Repayment
| Metric | This School | Nat'l Avg |
|---|---|---|
| 1-year repayment | 92.7% | 52.0% |
| 3-year repayment | 95.0% | 62.0% |
| 5-year repayment | 92.4% | 68.0% |
| 7-year repayment | 94.7% | 72.0% |
Completion Rate
Admissions Snapshot
| Acceptance rate | 11.7% |
| SAT Math (25th-75th) | 770-800 |
| SAT Reading (25th-75th) | 730-770 |
| ACT Composite (25th-75th) | 34-35 |
| Enrollment | 7,304 |
| Pell Grant recipients | 16.0% |
| Avg faculty salary (monthly) | $13,972 |
An 11.7% admission rate places CMU in the highly selective tier. SAT Math 770-800 is the modal band; the median ACT is 34-35. CMU evaluates by school (CIT, Dietrich, Tepper, CFA, etc.), so admission difficulty varies. Computer Science within the School of Computer Science is among the most competitive programs in the country. Arts programs through the College of Fine Arts are also competitive but measure different aptitudes.
Compared to Similar Schools
Peer institutions matched by type, size, and selectivity.
CMU's peer set includes Georgetown (ROI 93), Washington University in St. Louis (ROI 96), Notre Dame (ROI 97), and Bryn Athyn (ROI 34, a clear statistical outlier). On payback, CMU (3.4 yr) leads Georgetown (4.4 yr) and WashU (4.4 yr), and matches Notre Dame (3.8 yr). On 6-year median earnings, CMU ($84,000) leads all three selective peers -- Georgetown ($81,100), WashU ($63,400), and Notre Dame ($69,700). The debt-to-earnings ratio of 0.259 is higher than Georgetown (0.191) and Notre Dame (data varies) but tracks well against the school's earnings level. Completion rates are similar across the group (94-95%).
| School | ROI | Net Price | 10yr Earnings |
|---|---|---|---|
| Carnegie Mellon University (this school) | 97 | $31,944 | $114,862 |
| University of Notre Dame | 97 | $26,780 | $99,980 |
| Washington University in St Louis | 96 | $21,786 | $86,182 |
| Georgetown University | 93 | $40,815 | $103,494 |
| Albright College | 56 | $20,024 | $58,700 |
| Bryn Athyn College of the New Church | 34 | $20,586 | $40,457 |
Who Thrives Here
Admitted students show SAT 770-800 Math and 730-770 Reading; ACT 34-35 composite -- the profile reflects a technically oriented applicant pool with extremely high quantitative preparation. Students in CS, electrical engineering, and statistics programs have the clearest earnings path. Business Administration (151 graduates, $95,891 year-one earnings) and Systems Science (118 graduates) also deliver. Students entering Drama or Fine Arts should recognize that the CMU brand does not translate into higher earnings in those fields: debt-to-earnings ratios above 0.66 mean the degree costs more than it returns in the early career window.
The Verdict: The Investment Pays Off
Carnegie Mellon University is one of the strongest financial investments in higher education. With a total 4-year net cost of $127,776 and median graduate earnings of $114,862 ten years out, the math works decisively in graduates' favor. The estimated payback period of 3.4 years is well below average.
The data highlights several strengths: strong earnings premium over high school graduates, a 94.1% graduation rate, manageable debt relative to earnings, high loan repayment success.
Median debt of $21,750 is very manageable against $114,862 in annual earnings - well within the financial advisor rule of thumb that total debt should not exceed first-year salary.
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Data: College Scorecard API (U.S. Department of Education)
Vintage: 2024-2025 · Last updated: 2026-03-25
Earnings reflect median outcomes for all federal financial aid recipients. Individual results vary by major, effort, and career path.