Illinois Institute of Technology
Illinois Institute of Technology — Earnings vs Cost (vs National Average)
Illinois Institute of Technology at a Glance
The Illinois Institute of Technology is a private research university in Chicago, Illinois, United States. Tracing its history to 1890, the present name was adopted upon the merger of the Armour Institute and Lewis Institute in 1940. The university has programs in architecture, business, communications, design, engineering, industrial technology, information technology, law, psychology, and science. It is classified among "R2: Doctoral Universities – High research activity".
1890
136 years old
$255M
$255 million (2023)
8,834
3,135 undergrad · 5,699 grad
659
120 acres
Identity
Is Illinois Institute of Technology Worth It?
Illinois Institute of Technology is one of the strongest value propositions in higher education. At $18,425/year net price and $82,592 median earnings, graduates earn 4.5× their annual cost within a decade of enrolling.
The investment pays for itself in just 0.9 years — among the fastest payback periods of any college we track.
The 74% graduation rate means roughly 26% of students leave without a degree — taking on debt without the earnings boost that completion brings.
Bottom line: Illinois Institute of Technology delivers strong financial returns that justify the investment for most students.
How Illinois Institute of Technology compares to peer private nonprofit colleges of similar tier nationally
Ranked #1 of 20 on value score. Peers are matched by size, median earnings, SAT, and admission rate — not just geography.
| Rank | College | Value | Net price / yr | Median earnings |
|---|---|---|---|---|
| #1 | Illinois Institute of Technology | 83 | $18,425 | $82,592 |
| #2 | Wofford College | 76 | $18,732 | $68,964 |
| #3 | Milwaukee School of Engineering | 69 | $22,453 | $89,070 |
| #4 | Centre College | 66 | $20,781 | $66,240 |
| #5 | DePauw University | 61 | $22,264 | $70,527 |
| #6 | St Olaf College | 57 | $23,874 | $65,543 |
Peer group: private nonprofit colleges within ±60% of Illinois Institute of Technology's student body size and within a similar academic tier (SAT ±80, admit rate ±10pp, median earnings ±25%).
Best Programs at Illinois Institute of Technology
The highest-earning program at Illinois Institute of Technology is Computer Science at $75,600/year (4 years after graduation). The lowest is Architecture at $46,900/year.
Your major matters more than the school name — a Computer Science graduate from Illinois Institute of Technology earns $75,600, while a Architecture graduate earns $46,900. Choose your program carefully — it's the single biggest lever you control.
Debt also varies by program: Computer Science graduates carry $21,781 in median debt vs. $31,000 for Architecture.
Return on Investment
Estimated 4-Year Cost
Based on $18,425/yr net price × 4 years
Earnings Premium
vs. national average of $53,787/yr
Payback Period
Time to recoup the total cost through higher earnings
10-Year Net Gain
Median earnings over 10 years minus total cost of attendance
Programs & Earnings by Major
Graduate earnings data by field of study (4 years after graduation):
| Major | Earnings (4yr) | Earnings (1yr) | Median Debt |
|---|---|---|---|
| Computer Science | $75,600 | $75,600 | $21,781 |
| Electrical, Electronics and Communications Engineering | $68,400 | $68,400 | $27,000 |
| Computer Engineering | $61,700 | $61,700 | $27,000 |
| Computer and Information Sciences, General | $60,900 | $60,900 | $24,503 |
| Architectural Engineering | $60,600 | $60,600 | N/A |
| Civil Engineering | $60,600 | $60,600 | $26,500 |
| Chemical Engineering | $59,900 | $59,900 | $26,876 |
| Mechanical Engineering | $59,500 | $59,500 | $25,710 |
| Biomedical/Medical Engineering | $51,900 | $51,900 | $26,924 |
| Architecture | $46,900 | $46,900 | $31,000 |
Similar Colleges in IL
Quick Facts
- Institution Type
- private
- Location
- Chicago, IL
- Student Body
- 2,833 students
- Admission Rate
- 55%
- Graduation Rate
- 74%
- Net Price (Annual)
- $18,425
- Median Earnings (10yr)
- $82,592
- Median Student Debt
- $25,000