Cleveland Institute of Music
Cleveland, Ohio · Private Nonprofit · 47.3% acceptance rate
ROI Score: 20/100 · Poor Value
Cleveland Institute of Music (CIM) earns an overall ROI score of 20, in the Poor Value (red) tier. The institution is one of the country's elite conservatories, and the standard ROI framework produces structurally weak numbers because the conservatory career pipeline does not generate the kind of wage premiums that the framework rewards. Sticker tuition is $52,880 with net price of $28,226, putting four-year cost at $112,904. Median debt at graduation is $24,968 against just $26,000 of six-year earnings, producing a 0.96 debt-to-earnings ratio - graduates owe nearly as much as they earn annually. The Scorecard payback period of 999 years signals that the cost is structurally not recouped through wage premiums. Ten-year earnings of $32,641 reflect the realities of professional musical careers: orchestra positions, teaching, freelance performing, and chamber music. The earnings premium is actually slightly negative (-2.1%). On the other hand, completion rate is 72.1%, very strong for a private nonprofit, and repayment behavior improves over time (67.8% at 3 years rising to 80.3% at 7 years), suggesting graduates eventually find financial footing. Important context: CIM is a vocational conservatory training elite musicians, and the few graduates who land top-tier orchestra or chamber positions earn far above the median, but those outcomes are not captured in IRS earnings data the same way as conventional white-collar wages.
The data raises concerns about Cleveland Institute of Music
These metrics fall below the thresholds most financial advisors recommend for a sound college investment. Review them carefully before committing.
- ROI Score20/100 - Poor Value tier (below 45). Most 4-year schools we track score 60 or higher.
- Payback period>50 years - Graduates earn at or near the level of high school completers — the cost may not recoup within a working career.
Cleveland Institute of Music
Quick Numbers
| In-state tuition + fees | $52,880/yr |
| Out-of-state tuition + fees | $52,880/yr |
| Average net price | $28,226/yr |
| Total 4-year cost (net) | $112,904 |
| Median earnings (10yr post-entry) | $32,641 |
| Median earnings (6yr post-entry) | $26,000 |
| Median debt at graduation | $24,968 |
| Estimated monthly loan payment | $265 |
| Estimated payback period | >50 years |
| 6-year graduation rate | 72.1% |
| Undergraduate enrollment | 159 |
Data as of 2024-2025. Source: College Scorecard API (U.S. Department of Education).
The Full Financial Picture
The sticker price at Cleveland Institute of Music is $52,880/year. But sticker price isn't what most students pay. After grants, scholarships, and financial aid, the average student pays a net price of $28,226/year, or roughly $112,904 over four years.
That net price varies significantly by family income. The lowest-income families (under $30,000/year) pay an average of $23,782/year, while families earning over $110,000 pay $32,629/year.
The median graduate leaves with $24,968 in federal loan debt, translating to an estimated monthly payment of $265 on a standard 10-year repayment plan. Against median earnings of $32,641 ten years out, the debt-to-earnings ratio is 0.96 - within the recommended range but worth monitoring.
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 | $23,782 |
| $30,001 - $48,000 | $29,767 |
| $48,001 - $75,000 | $16,884 |
| $75,001 - $110,000 | $21,212 |
| $110,001+ | $32,629 |
Cost by Income Bracket Explained
Lower-income families (under $30K)
Families earning under $30,000 pay $23,782 per year. The $30,001-$48,000 bracket pays substantially more at $29,767, and the $48,001-$75,000 bracket then pays much less at $16,884 - a strikingly inverted pattern across the bottom three brackets. The aid policy here appears non-monotonic, possibly reflecting small sample sizes or specific institutional grant programs. Lower-income families should run the calculator carefully and not rely on bracket-average data.
Middle-income families ($30K-$110K)
Middle-income families ($48,001-$110,000) see the most favorable pricing, paying $16,884 to $21,212 per year - notably less than lower-income brackets at the bottom. Four-year cost lands at $68,000-$85,000 in this range, manageable but high relative to typical music-career earnings.
Higher-income families ($110K+)
Households over $110,000 pay $32,629 per year - approximately $130,000 across four years. At this price point CIM is essentially treated as a values purchase: the family is buying elite conservatory training as a long-term investment in artistic development, not as a wage-premium investment.
Earnings by Major
Top 1 most popular majors at Cleveland Institute of Music with available earnings data.
| Major | Median Earnings | Grade |
|---|---|---|
| Music | $37,656 | C |
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.
Music
Music is CIM's only program and accounts for all 52 graduates. Median four-year earnings of $37,656 against $25,500 of debt produce a 0.677 debt-to-earnings ratio and a C grade by the framework's logic. The roiGrade of C is mechanically generated and does not reflect the artistic placement quality of the program: CIM graduates routinely place in top orchestras, conservatory faculty positions, and elite chamber ensembles. The financial framework cannot capture the value of those non-wage outcomes (artistic prestige, teaching tenure, and the heavy-tail income distribution where a small share of graduates earn very high incomes through performing careers).
How Graduates Do
Earnings
Loan Repayment
| Metric | This School | Nat'l Avg |
|---|---|---|
| 1-year repayment | N/A | 52.0% |
| 3-year repayment | 67.8% | 62.0% |
| 5-year repayment | 77.7% | 68.0% |
| 7-year repayment | 80.3% | 72.0% |
Completion Rate
Admissions Snapshot
| Acceptance rate | 47.3% |
| Enrollment | 159 |
| Pell Grant recipients | 13.7% |
| Avg faculty salary (monthly) | $7,572 |
CIM admits 47.3% of applicants - moderately selective for a conservatory but the headline figure undersells the actual selectivity. SAT and ACT mid-ranges are not reported, which is typical for conservatory admissions where audition performance is the primary criterion. Applicants must submit live or recorded auditions evaluated by faculty in their instrument; this means the effective selectivity for serious music students is substantially higher than the admit rate suggests. The 72.1% completion rate reflects strong faculty-student fit among admitted students.
Compared to Similar Schools
Peer institutions matched by type, size, and selectivity.
CIM's algorithmic peer set is essentially meaningless. Allegheny Wesleyan College and Carolina College of Biblical Studies are tiny religious institutions; Caribbean University Vega Baja and Universidad Teologica del Caribe are Puerto Rico institutions; Art Academy of Cincinnati is a fine-arts peer that is closer in mission. Real peers are other top conservatories: Curtis Institute, Eastman School of Music, Manhattan School of Music, New England Conservatory, and Oberlin Conservatory. Among those, CIM is widely considered top-tier. Comparison to general-purpose colleges on financial ROI metrics distorts the analysis - conservatories train artists for a different labor market.
| School | ROI | Net Price | 10yr Earnings |
|---|---|---|---|
| Cleveland Institute of Music (this school) | 20 | $28,226 | $32,641 |
| Puerto Rico Conservatory of Music | 32 | $7,260 | $19,474 |
| The Juilliard School | 27 | $43,571 | $37,827 |
| The New England Conservatory of Music | 25 | $46,754 | $34,483 |
| Berklee College of Music | 20 | $49,465 | $33,647 |
| Manhattan School of Music | 20 | $51,754 | $26,878 |
Who Thrives Here
CIM fits exceptionally talented young musicians pursuing conservatory training in classical performance, composition, or pedagogy. Pell rate is 13.7%, low, reflecting both the cost structure and the long-term family investment typical of pre-professional music training. Enrollment is 159 - one of the smallest enrollments in the dataset. Outcomes by financial ROI are weak by design; outcomes by artistic placement are reportedly strong (top-tier orchestras, chamber groups, conservatory teaching positions). Students should evaluate this institution on artistic fit, faculty teachers, and audition results rather than on Scorecard ROI metrics.
The Verdict: The Numbers Don't Add Up
The financial data raises serious concerns about Cleveland Institute of Music. With a net cost of $28,226 per year and median graduate earnings of only $32,641 ten years out, the estimated payback period exceeds >50 years. For most students, the financial return does not justify the cost.
Key strengths include a 72.1% graduation rate. However, the data also shows weak earnings relative to cost and high debt relative to what graduates earn and concerning loan repayment rates and a long payback period.
Median debt of $24,968 against $32,641 in earnings is concerning. The debt-to-earnings ratio of 0.76 exceeds the commonly recommended threshold. Major choice is critical here.
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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.