MCC Program Based Economic Impact Analysis: Feb 2018

SURGICAL TECHNOLOGY

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 $6.80 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. FIGURE 2.38: Lifetime Earnings of a Surgical Technology Program Completer Compared to a High School Graduate TABLE 2.42: Metrics Per Student and Total Impact Lifetime Earnings Increase per Student $584.8 thousand Annual Economic Impact per Student* $28 Total Alumni Impact in FY 2015-16 $0.6 thousand * Due to data limitations, a duplicated student headcount was used to calcu- late the economic impact per student, generating a very conservative result.

While only recently established in 2015, in FY 2015-16, MCC enrolled 20 students in its Surgical Technology program. There have yet to be completers of this associ- ate degree program. CAREER PATHWAYS The Surgical Technology program can lead students into the occupation Surgical Technologists. TABLE 2.41: Aggregated Program to Occupation Mapping Measures Number of Occupations 1 Using the average number of annual openings for these occupations (23) and in FY 2015-16 there were no insti- tutional completers in the county that may fill these openings, so we arrive at a gap of 23 unfilled openings. There are 288 unique job postings for these occupa- tions at the associate degree level or below in Monroe County. The top three posting companies are University of Rochester, Rochester General Health System, and Highland Hospital. PROGRAM ALUMNI IMPACT Former students of MCC’s Surgical Technology program added $0.6 thousand 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. Projected Avg. Annual Job Openings (2016-2026) 23 Projected Avg. Job Growth (2016-2026) +21.4% $18.66 Median Hourly Wage (2016)

High School Graduate

Program Completer

$60,000 $40,000 $50,000 $30,000 $20,000 $10,000 $0

Average Annual Earnings

24

39 29 34

44 49 54

64 59

Age

32

MONROE COMMUNITY COLLEGE. | FEBRUARY 2018