Higher Ed Bubble Update: South Dakota Overtakes Harvard

We’ve noted the higher education bubble a few times here before, but today’s news story from FuelFix, an online publication of Statoil, is worth chortling over:

South Dakota’s New Mining Grads Beat Harvard for Pay.

Harvard University’s graduates are earning less than those from the South Dakota School of Mines & Technology after a decade-long commodity bull market created shortages of workers as well as minerals.

Those leaving the college of 2,300 students this year got paid a median salary of $56,700, according to PayScale Inc., which tracks employee compensation data from surveys. At Harvard, where tuition fees are almost four times higher, they got $54,100. Those scheduled to leave the campus in Rapid City, S.D., in May are already getting offers, at a time when about one in 10 recent U.S. college graduates is out of work.

I’ll save Glenn Reynolds the trouble: Heh.

JOHN adds: This comes as no surprise, of course, to us South Dakotans.


Books to read from Power Line