A report from the New York City Economic Development Corporation (NYCEDC) showing how academic institutions play a large and important role in New York City’s economy was recently released and lists Vaughn as #1 nationwide in upward mobility — moving students from the bottom 20% to the top 1% in income.

NYC academic institutions are among the most effective in enabling upward mobility—making up 13 of the 20 best colleges nationwide in terms of graduates moving from the bottom 20% of household income to the top 20%. Five NYC institutions are in the top 20 institutions for students moving from the bottom 20% of income distribution to the top 1%: Columbia University, CUNY Baruch, Vaughn College of Aeronautics & Technology, Cooper Union and SUNY Maritime.

According to the report, higher education contributes $35 billion of economic impact every year, serves 503,000 students, and employ more than 140,000 people. It also offers a promise of equitable paths to opportunity. The median annual salary for a full-time working resident with a bachelor’s degree or higher is about double the median income for full-time working residents with a high school diploma and no college education ($94,000 vs $42,000 in 2022).

To learn more, read the press release.