If a kid has a BA from Yale in English and makes $35k at a newspaper, that will reflect poorly on Yale’s outcome score, even though the kid got a world-class education.
Outcomes tell you:
- The quality of the career dept and
- The kids' vocational preferences, which are often tied to their college major. (of course, that doesn't always mean there are jobs available in that field...)
Salary outcomes metrics favor schools where most students major in STEM subjects, especially Engineering and CS, or other pre-professional areas like Business.
PhDs are also largely self-selected: some kids go after them while others don’t. Maybe a school can instill a love of academia in kids, and that might be worth something, but still, they choose whether to follow that path.
To level the salary playing field between heavy STEM/pre-pro schools and more intellectual schools, maybe they could do something like this:
Outcome Score = Average Salary + [(Average Salary)(% of intellectual majors)], where “intellectual majors” are all non-Business/Engineering/CS majors.
That might alleviate some of the outcome bias toward schools with a high percentage of CS, Engineering and Business majors. It’s far from perfect, but at least it moves the bias needle a bit. (and maybe too much the other way…)
It still would not alleviate the cost of living bias toward East Coast and West Coast schools, but at least it would do something to boost schools with relatively more Humanities and soft science majors than Engineering, CS or Business majors.
There may not be a perfect way to measure academic quality, but I think any formula should include class sizes, % of lecturers with terminal degree, prof awards (some do teach), a prof publishing metric (they don’t just teach it; they innovate it) and maybe an academic satisfaction survey to catch the qualitative side of things.
I see a little bit of merit in the “academic rep” thing where college deans rate other schools on academic rep, because it is their job to know; but there’s also potential bias there.
Those are just some thoughts. There’s no perfect way to rank schools; at least, we haven’t found one yet.