South Dakota School of Mines graduates earn more than Harvard grads

By Minerals Make Life on September 20, 2012 in Growth

Did you know that graduates from the South Dakota School of Mines and Technology (SDSMT) earn more than graduates from Harvard University? Bloomberg Businessweek recently revealed that PayScale, a company that tracks employee compensation data, found that SDSMT grads have a median salary of $56,700, while those from Harvard—where tuition fees are almost four times higher—have a median salary of $54,100.

At a time when about one in 10 recent U.S. college graduates is out of work, the mining sector continues to provide career paths for many. According to the Bloomberg article, “demand for mining-school graduates is exceptional in the U.S., where the unemployment rate for people ages 20 to 24 with bachelor’s degrees was 11.8% in July.”

The August jobs report revealed that the jobless rate across the economy remained stagnant—at about 8 percent for the 43rd consecutive month. Jobs in the mining sector could be part of the solution to continued unemployment, yet our inefficient permitting process, which can delay new mining project from between seven and 10 years, is holding back the creation of thousands high paying jobs. 

By supporting legislation that would establish a more efficient permitting process, we can help reduce permitting delays, foster job creation and generate economic growth.

Read the full story here.