MCC Program Based Economic Impact Analysis: Feb 2018

RADIOLOGIC TECHNOLOGY

In FY 2015-16, MCC enrolled 59 students in its Radio- logic Technology program. Of these students, 26 gradu- ated with an associate degree in FY 2015-16. CAREER PATHWAYS The Radiologic Technology program can lead students into a multiple occupations, which includes: Radiologic Technologists and Radiologic Technologists. TABLE 2.37: Aggregated Program to Occupation Mapping Measures Number of Occupations 2 Using the average number of annual openings for these occupations (44) and subtracting the FY 2015-16 insti- tutional completers in the county that may fill these openings (26), we arrive at a gap of 18 unfilled openings. There are 50 unique job postings for these occupations at the associate degree level or below in Monroe County. The top posting companies are Alliance Healthcare Ser- vices, Inc., University of Rochester and Cardionet, Inc. PROGRAM ALUMNI IMPACT Former students of MCC’s Radiologic Technology program added $5.9 million in income to the Monroe Projected Avg. Annual Job Openings (2016-2026) 44 Projected Avg. Job Growth (2016-2026) +15.0% $27.23 Median Hourly Wage (2016)

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 2.38: Metrics Per Student and Total Impact Lifetime Earnings Increase per Student $999.4 thousand Annual Economic Impact per Student* $3.0 thousand Total Alumni Impact in FY 2015-16 $5.9 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 $6.60 back over the course of their working lives. This investment can also be seen in terms of a rate of return of 24.4%. This is an impressive return, especially when compared to the U.S. stock market 30-year average of 10.1% return.

FIGURE 2.34: MCC Radiologic Technology Completers, FY 2005-06 to FY 2015-16

FIGURE 2.35: Lifetime Earnings of a Radiologic Technology Program Completer Compared to a High School Graduate

50

High School Graduate

Program Completer

40

$80,000

30

$60,000

20

$40,000

10

Average Annual Earnings $20,000

Number of Completers

0

$0

2006

2012 2013 2014 2015 2016 2007 2008 2009 2010 2011

29 34

39

44 49 54

59

64

69

Year Graduated

Age

30

MONROE COMMUNITY COLLEGE. | FEBRUARY 2018