<p>More useful would be number of PhDs relative to students in that major at the undergraduate school.</p>
<p>There are plenty of confounding factors in the data shown in Table 2 of the linked paper. For example, it is no surprise that the number of S&E PhDs per 100 bachelor’s degrees 9 years earlier is topped by Caltech, Harvey Mudd, and MIT, with 99%, 96%, and 80% of bachelor’s degrees in S&E.</p>
<p>It is also not surprising that the highest ranked public school by this measure is New Mexico Institute of Mining and Technology (86% of bachelor’s degrees in S&E).</p>