Northwestern University
Northwestern University — Earnings vs Cost (vs National Average)
What we think of Northwestern University
Northwestern is one of the strongest elite privates for a specific set of programs — journalism (Medill), communication and theater (School of Communication and Radio/TV/Film), and integrated science majors — but the general ROI is weaker than peers of similar admissions selectivity. A $29,167 net price and $89,363 median earnings produce a 1.3-year payback and a 73/100 value score, worse than Cornell, Duke, or the top-tier Ivies.
The mechanism is aid formula rather than earnings. Northwestern meets full demonstrated financial need, but its formula assumes higher family contributions than Harvard, Yale, or Princeton at comparable incomes, and merit aid is limited. Median debt of $15,000 is manageable but higher than at more generous peers.
Where Northwestern is genuinely distinctive is program depth in journalism, communication, and theater. Medill's undergraduate journalism program is regarded as the strongest in the country, with a specific pipeline into the industry that competitors cannot match. The School of Communication feeds theater, film, and TV in ways that only USC and Yale rival. Kellogg is the nationally-recognized graduate business school; its undergraduate business feed (via the Real Estate program and certificates) is meaningful but not equivalent.
Bottom line: for journalism, theater, communication, or film applicants, Northwestern's program strength justifies the aid gap versus HYP — the pipeline is genuinely distinctive. For a broadly strong elite undergraduate degree without a program-specific reason to be there, compare aid letters carefully against Ivy-tier alternatives before committing. This is a school where fit matters more than the general ranking.
Northwestern University at a Glance
Northwestern University (NU) is a private research university in Evanston, Illinois, United States. Established in 1851, it is the oldest chartered university in Illinois. Northwestern was initially affiliated with the Methodist Episcopal Church but later became non-sectarian. By 1900, the university was the third-largest university in the United States, after Michigan and Harvard. Northwestern became a founding member of the Big Ten Conference in 1896 and joined the Association of American Univ…
1851
175 years old
$15.3B
$15.3 billion (2025)
22,801
8,846 undergrad · 13,955 grad
4,018
6:1 student:faculty
74%
240 acres
Identity
How to Apply to Northwestern University
Official admissions pageJanuary 2
November 1 (Early Decision, binding)
$75
Fee waiver available
2 required
Testing policy
Recommendation letters
Essays
Interview
Fee waiver
Is Northwestern University Worth It?
Northwestern University delivers solid financial returns for its graduates. At $29,167/year, it's priced 43% above average, while graduates go on to earn $89,363 — 66% above the national average.
The investment pays for itself in just 1.3 years — among the fastest payback periods of any college we track.
With a 96% graduation rate, the vast majority of students finish their degree and reach these earning outcomes.
The catch: admission is extremely selective at just 8%, making this an option only for top-tier applicants.
Median student debt of $15,000 is manageable at just 17% of first-year post-graduation earnings.
Bottom line: Northwestern University delivers strong financial returns that justify the investment for most students.
How Northwestern University compares to peer private nonprofit colleges of similar tier nationally
Ranked #16 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 | Yale University | 100 | $23,777 | $100,533 |
| #2 | University of Chicago | 100 | $14,860 | $91,885 |
| #3 | Johns Hopkins University | 100 | $18,809 | $87,555 |
| #4 | Harvard University | 100 | $19,066 | $101,817 |
| #5 | Princeton University | 100 | $6,128 | $110,066 |
| #6 | Columbia University in the City of New York | 100 | $21,590 | $102,491 |
| #16 | Northwestern University | 73 | $29,167 | $89,363 |
Peer group: private nonprofit colleges within ±60% of Northwestern University's student body size and within a similar academic tier (SAT ±80, admit rate ±10pp, median earnings ±25%). 1 in IL.
Best Programs at Northwestern University
The highest-earning program at Northwestern University is Computer Science at $88,500/year (4 years after graduation). The lowest is Drama/Theatre Arts and Stagecraft at $20,600/year.
Your major matters more than the school name — a Computer Science graduate from Northwestern University earns $88,500, while a Drama/Theatre Arts and Stagecraft graduate earns $20,600. That's more than a 2× difference from the same institution. Choose your program carefully — it's the single biggest lever you control.
Debt also varies by program: Computer Science graduates carry $15,683 in median debt vs. $14,250 for Drama/Theatre Arts and Stagecraft.
Return on Investment
Estimated 4-Year Cost
Based on $29,167/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 | $88,500 | $88,500 | $15,683 |
| Computer Engineering | $80,600 | $80,600 | $15,905 |
| Industrial Engineering | $76,400 | $76,400 | $14,000 |
| Chemical Engineering | $75,700 | $75,700 | $15,332 |
| Mathematics | $71,000 | $71,000 | $14,350 |
| Economics | $69,200 | $69,200 | $14,300 |
| Mechanical Engineering | $66,100 | $66,100 | $16,500 |
| Biomedical/Medical Engineering | $64,200 | $64,200 | $17,166 |
| Community Organization and Advocacy | $58,000 | $58,000 | $13,500 |
| Political Science and Government | $47,000 | $47,000 | $14,900 |
| International Relations and National Security Studies | $46,000 | $46,000 | $14,800 |
| Communication and Media Studies | $42,600 | $42,600 | $15,500 |
| Journalism | $42,000 | $42,000 | $15,500 |
| History | $37,100 | $37,100 | $13,797 |
| Psychology, General | $36,000 | $36,000 | $15,834 |
| Public Policy Analysis | $35,100 | $35,100 | $12,025 |
| Psychology, Other | $34,300 | $34,300 | $12,000 |
| English Language and Literature, General | $32,700 | $32,700 | $15,062 |
| Biology, General | $30,500 | $30,500 | $15,100 |
| Radio, Television, and Digital Communication | $25,100 | $25,100 | $15,500 |
| Music | $22,400 | $22,400 | $16,787 |
| Drama/Theatre Arts and Stagecraft | $20,600 | $20,600 | $14,250 |
Similar Colleges in IL
Quick Facts
- Institution Type
- private
- Location
- Evanston, IL
- Student Body
- 9,201 students
- Admission Rate
- 8%
- Graduation Rate
- 96%
- Net Price (Annual)
- $29,167
- Median Earnings (10yr)
- $89,363
- Median Student Debt
- $15,000