MCC Program Based Economic Impact Analysis: Feb 2018

DENTAL ASSISTING

While only established in 1997, in FY 2015-16, MCC enrolled 74 students in its Dental Assisting program. Of these students, 33 graduated with a certificate in FY 2015-16. CAREER PATHWAYS The Dental Assisting program can lead students into the occupations Dental Assistants and Dental Labora- tory Technicians. TABLE 2.17: Aggregated Program to Occupation Mapping Measures Number of Occupations 2

PROGRAM ALUMNI IMPACT Former students of MCC’s Dental Assisting program added $1.1 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 2.18: Metrics Per Student and Total Impact Lifetime Earnings Increase per Student $262.8 thousand Annual Economic Impact per Student* $430 Total Alumni Impact in FY 2015-16 $1.1 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 $7.70 back over the course of their working lives. This investment can also be seen in terms of a rate of return of 28.5%. 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)

81

Projected Avg. Job Growth (2016-2026)

+6.4%

Median Hourly Wage (2016)

$18.31

Using the average number of annual openings for these occupations (81) and subtracting the FY 2015-16 insti- tutional completers in the county that may fill these openings (71), we arrive at a gap of 10 unfilled openings. There are 244 unique job postings for these occupations at the certificate level or below in Monroe County. The top three posting companies are Aspen Dental Manage- ment Inc., American Dental Partners Inc., and Qdental.

FIGURE 2.16: MCC Dental Assisting Completers, FY 2005-06 to FY 2015-16

FIGURE 2.17: Lifetime Earnings of a Dental Assisting Program Completer Compared to a High School Graduate

50 40 30 20 0 10

High School Graduate

Program Completer

$60,000

$40,000

$20,000

Average Annual Earnings $0

Number of Completers

2006

2012 2013 2014 2015 2016 2007 2008 2009 2010 2011

31 36

41

46 51 56

61

66

Year Graduated

Age

20

MONROE COMMUNITY COLLEGE. | FEBRUARY 2018