In line with a previous post of mine in this thread, faculty quality is crucial for a student’s educational experience. Also, empirical research has shown that the more impact a faculty member’s research has, the more weight their recommendations will carry in the workplace and the more money graduates will earn. My opinion of the faculty quality and faculty research level of the economics departments of Amherst, Pomona, and UChicago appears to mirror average salary levels at these institutions. From Academe, the magazine of the American Association of University Professors March-April 2015 edition the average men/women salary levels for professors at Amherst are $149,400/137,600, Pomona’s are $153,700/141,400 and at UChicago they are $225,400/189,000. Incentives matter.