If education is an investment, you’d better get some dough out of that degree. Bloomberg Businessweek released a series of stories that look at what schools’ students can expect to earn over a 30-year career. Here are a few highlights:
- The average cost of a degree at the 853 schools in the survey was $85,276, and ROI was $152,114.
- Thirty-year ROI for private schools was $222,047, topping public schools for students paying in-state tuition at $122,987 and out-of-state tuition at $100,155.
- Seven of the eight Ivy leagues made the news service’s Top 15 list, with average ROI for all eight being more than $1 million.
- Engineering schools’ average ROIs was $603,362, compared with $245,943 for liberal arts schools and $141,014 for business schools.
- For in-state comparisons, public University of Illinois in Urbana-Champaign beat out elite University of Chicago for the No. 1 spot.
Ally Financial will stop underwriting and trading mortgage-backed securities, laying off 33. [Bloomberg]
HSBC is in talks to sell its retail banking units in South Korea and business in Pakistan. [DealBook]
Blackstone wins as a creditor. [Financial Times]
The wealthy in Asia show little banker loyalty or interest in preserving wealth. [WSJ]
Mass.’s pension fund is transitioning out of funds of funds. [Pensions & Investments]
Billionaire sues UBS for $1.7 billion over tax advice. [Investment News]
Oaktree aims to raise $517.5 million in an IPO this week. [Businessweek]
Crippling student loan debt with little to show for it. [Businessweek]
CME considers building a European futures exchange in London. [Financial Times]
Excerpt: Backstage Wall Street: An Insider's Guide to Knowing Who to Trust, Who to Run From, and How to Maximize Your Investments. [Investment News]
Wharton’s new marketing effort promotes innovation and social and global impact. [WSJ]