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Impact How UAB powers Alabama’s Economy

graduatesUAB is a world-renowned institution that contributes a significant amount to the advancement of society. UAB graduates work in countries worldwide, allowing the university’s reach to be felt on a global scale. UAB alumni play a significant role in both domestic and international economies. UAB is shaping a skilled workforce that will transform and lead an emerging global economy by educating the next generation of highly educated global citizens. 

UAB Enriches the Current and Future Workforce 

On average, UAB confers approximately 6,300 degrees each year for undergraduate and graduate students, which positions UAB to provide quality education to the next generation of leaders. By educating students, UAB adds to the talent pool of human capital worldwide. A degree from UAB increases a graduate’s value, productivity, and earning potential in the job market. 

Based on data on median annual earnings for university graduates, a bachelor’s degree earned at a university increases a graduate’s salary compared with a high school diploma by an average of about $27,900. In contrast, a master’s degree earned at a university increases a graduate’s salary compared to a bachelor’s degree by an average is $32,000 for master’s and $45,000 for a doctoral. 

In the academic year 2021-2022, UAB awarded 2,932 undergraduate degrees. Historically, 64 percent of UAB graduates remain in the state to work after completing their degree. For the undergraduate class of 2022, the increased earning power in their first year of employment equates to the creation of $53.2 million in salary. A similar analysis applied to the 3,116 advanced (master’s certificate, doctoral, and post-doctoral) degrees awarded in the academic year 2021-2022 equates to another $72.8 million of value created for their first year of employment. 

Therefore, on an annual basis, UAB creates $126.1 million of additional earning power for members of each graduating class. This impact is in addition to the impact of the university’s operations. 

Alumni Generate Impact for the Region 

The contributions of UAB graduates are critically important to the economic vitality of the state, across the United States, and internationally. UAB alumni number more than 149,000 and reside in all 50 states and in many countries. Given that 64 percent of the alumni of UAB stay in Alabama after graduating, this equates to approximately 95,360 alumni living, working, and generating impact within Alabama. 

Over a lifetime of employment (40 years), UAB undergraduate alumni who remain in Alabama generate $39.8 billion that would otherwise have been unachieved had these students not pursued an undergraduate degree. Likewise, over a lifetime of employment, UAB graduate alumni who remain in the state generate $54.2 billion, which would otherwise not have been achieved had these students not pursued a graduate degree.17 

In total, all UAB alumni living in Alabama generate an increased earning power of $94 billion over 40 years. By teaching and retaining students within the state who utilize their education, UAB graduates are generating impacts every day.