posted on Feb. 8: University receives $1.5M in performance-based funding

McMaster University is receiving $1.5 million from the Ontario government based on indicators that measure the number of students who graduate and successfully find jobs.

The funding is slightly more – $200,000 – than the University had anticipated when the 2001-02 budget was approved last June by the Board of Governors.

The funding, part of the operating grant, is based on measuring achievement in three key performance indicators:

• the graduation rate of students
• the six-month employment rate for graduates of undergraduate programs and
• the two-year employment rate for graduates of undergraduate programs.

“I'm pleased that McMaster continues to make a strong showing in the performance indicators,” said Acting President Peter Sutherland.
“We know our graduates are well prepared for the work force and our numbers clearly demonstrate that.”

The most recent Ontario University Graduate Survey available shows McMaster's graduation rate is 79.7 per cent. The average graduation rate for all Ontario universities is 73.7 per cent.

As well, more than 94 per cent (94.8) of McMaster graduates with undergraduate degrees were employed six months after leaving the University. The provincial average is 94.6 per cent.

The survey also shows that 97 per cent of McMaster graduates are employed within two years of obtaining an undergraduate degree. The provincial average is 97.2 per cent.