MCC Program Based Economic Impact Analysis: Feb 2018

COMPUTER SCIENCE

In FY 2015-16, MCC enrolled 166 students in its Com- puter Science program. Of these students, 15 graduated with an associate degree in FY 2015-16. CAREER PATHWAYS The Computer Science program can lead students into a number of occupations, which may include: Software Application Developers, Database Administrators, and Web Administrators. TABLE 2.11: Aggregated Program to Occupation Mapping Measures Number of Occupations 11

PROGRAM ALUMNI IMPACT Former students of MCC’s Computer Science program added $12.9 million in income to the Monroe County economy in FY 2015-16. This figure represents the increased wages collected by former students active today in the county workforce as a direct result of their education, the increased output of businesses that employ these students, and the multiplier effects that occur. TABLE 2.12: Metrics Per Student and Total Impact Lifetime Earnings Increase per Student $985.6 thousand Annual Economic Impact per Student* $2.8 thousand Total Alumni Impact in FY 2015-16 $12.9 million * Due to data limitations, a duplicated student headcount was used to calcu- late the economic impact per student, generating a very conservative result. STUDENT RETURN ON INVESTMENT To earn a degree in the program, students experience costs in the form of tuition and fees, books and supplies, and the opportunity cost of attending school instead of working. In return for this investment, students can earn higher wages. For every dollar students invest in their education in the program, they will receive $7.60 back over the course of their working lives. This investment can also be seen in terms of a rate of return of 19.7%. This is an impressive return, especially when compared to the U.S. stock market 30-year average of 10.1% return.

Projected Avg. Annual Job Openings (2016-2026)

192

Projected Avg. Job Growth (2016-2026)

+6.3%

Median Hourly Wage (2016)

$26.19

Using the average number of annual openings for these occupations (192) and subtracting the FY 2015-16 insti- tutional completers in the county that may fill these openings (20), we arrive at a surplus of 172 extra com- pleters. There are 2,395 unique job postings for these occupations in Monroe County. The top three posting companies are University of Rochester, Paychex Inc, and Dish Network LLC.

FIGURE 2.10: MCC Computer Science Completers, FY 2005-06 to FY 2015-16

FIGURE 2.11: Lifetime Earnings of a Computer Science Program Completer Compared to a High School Graduate

16

High School Graduate

Program Completer

$80,000

12

$40,000 $20,000 $0 $60,000

8

4

Average Annual Earnings

0 Number of Completers

2006

2012 2013 2014 2015 2016 2007 2008 2009 2010 2011

23

28

33

38

43 48 53

63 58

Year Graduated

Age

17

PROGRAM BASED ECONOMIC IMPACT ANALYSIS