NJIT Earns National Distinction in Money's 2023 List of 'Best Colleges'

New Jersey Institute of Technology (NJIT) has earned 4.5 out of 5 stars in a new “Best Colleges” list released by Money.

Money evaluated 736 institutions from the more than 2,400 four-year public and private nonprofit colleges in the U.S. and focused on 24 factors in three main categories that surveys have shown are the most important to students: quality of education, affordability and alumni outcomes.

The rankings analyzed data points such as graduation rates, net price of a degree, debt incurred, ability to repay debt and alumni earnings to find the country’s top performing institutions.

“Money’s analysis affirms NJIT as one of the best values in higher education and considers factors that are most important to students and their families,” said NJIT President Teik C. Lim. “As a public polytechnic research university, NJIT prepares students for success in fields that are critical to businesses, are in high demand across all industries and encourage entrepreneurial spirit.”

NJIT is one of only three public institutions in New Jersey to earn at least a 4.5 star rating.

In compiling its 2023 “Best Colleges” ranking, Money incorporated earning and employment data reported in the federal College Scorecard. Using the same source data, the Georgetown Center on Education and the Workforce ranked NJIT in the top 10% for return on investment nationwide and No. 1 among New Jersey’s public, four-year institutions. Ten years after enrollment, NJIT students earn an annual median salary that ranks in the top 15% nationwide. 

In addition, Money also incorporated data reported in an economic mobility index developed by Third Way that assesses which institutions are catalyzing economic mobility for low- and moderate-income students. NJIT ranked in the top 7% of institutions evaluated using that metric.

Money’s ranking adds to NJIT's other accolades regarding return on investment and economic mobility. The New York Times build-your-own ranking tool rates NJIT No. 1 among all public universities nationally when you prioritize high alumni earnings, economic mobility, and academic profile. Forbes ranks NJIT the No. 1 public university in New Jersey and No. 28 in the nation, and The Princeton Review ranks NJIT No. 35 nationally as a Best Value College. NJIT is in the top 2% of colleges and universities nationally for the mid-career earnings of graduates, according to PayScale.com, and is a top 50 public institution nationwide, according to U.S. News & World Report.