Wake Forest University

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2022 Undergraduate Tuition
$61,012
3.92% growth from 2021
2022 Average Net Price
$26,197
After Financial Aid
2019 Default Rate
0.344%
on Student Loans
2022 Acceptance Rate
21.4%
16,857 Applicants
2022 Enrolled Students
8,963
88.7% Full-Time
2022 Graduation Rate
89.6%
1,168 Graduates

About

Wake Forest University is a higher education institution located in Forsyth County, NC. In 2022, the most popular Masters Degree concentrations at Wake Forest University were General Business Administration & Management (214 degrees awarded), Management Science (199 degrees), and Other Management Sciences & Quantitative Methods (110 degrees).

In 2022, 2,979 degrees were awarded across all undergraduate and graduate programs at Wake Forest University. 54.5% of these degrees were awarded to women, and 45.5% awarded men. The most common race/ethnicity group of degree recipients was white (1,881 degrees), 8.67 times more than then the next closest race/ethnicity group, black or african american (217 degrees).

The median undergraduate tuition at Wake Forest University is $61,012, which is $30,862 more than the national average for Doctoral Universities ($30,150).

Costs

In 2022, the median undergraduate tuition at Wake Forest University is $61,012, which is $30,862 more than the national average for Doctoral Universities ($30,150).

After taking grants and loans into account, the average net price for students is $26,197.

In 2022, 41% of undergraduate students attending Wake Forest University received financial aid through grants. Comparatively, 16% of undergraduate students received financial aid through loans.

Tuition Costs

$61,012
2022 Undergraduate Tuition

In 2022, the cost of tuition at Wake Forest University was $61,012. The cost of tuition at Wake Forest University is $30,862 more than than the overall (public and private) national average for Doctoral Universities ($30,150).

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Average Net Price

$26,197
2022 Value
6.31%
1 Year Growth

In 2022 Wake Forest University had an average net price — the price paid after factoring in grants and loans — of $26,197. Between 2021 and 2022, the average net price of Wake Forest University grew by 6.31%.

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Average net price is calculated from full-time beginning undergraduate students who were awarded a grant or scholarship from federal, state or local governments, or the institution.

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Other Student Expenses

$16,044
Room and Board
$1,500
Books and Supplies

The average yearly cost of room and board at Wake Forest University was of $16,044 in 2022. The cost of room and board increased by 3.38% between 2021 and 2022.

During the same period, the average yearly cost of books and supplies was $1,500. The cost of books and supplies did not change during the same period.

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Financial Aid by Income Level

41%
Undergraduates Receiving Financial Aid through Grants
16%
Undergraduates Receiving Financial Aid through Loans

41% of undergraduate students at Wake Forest University received financial aid through grants or loans in 2022. This represents a growth of 2.5% with respect to 2021, when 40% of undergraduate students received financial aid.

This chart compares the average award discount at Wake Forest University (in red) with that of other similar universities.

The average award discount is the ratio between the average grant or scholarship value, and the cost, which is the sum of out-of-state tuition, room, board, book, supplies, and other expenses.

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Student Loan Default Rate

Cohort default rates only account for borrowers who default in the first three years, and some schools only have a small proportion of borrowers entering repayment. These rates should be interpreted with caution, as they may not be reflective of the entire school population.
0.344%
2019 Default Rate
4
Number of Defaults

In 2019 the default rate for borrower's at Wake Forest University was 0.344%, which represents 4 out of the 1164 total borrowers.

A cohort default rate is the percentage of a school's borrowers who enter repayment on certain Federal Family Education Loan (FFEL) Program or William D. Ford Federal Direct Loan (Direct Loan) Program loans during a particular federal fiscal year (FY), October 1 to September 30, and default or meet other specified conditions prior to the end of the second following fiscal year.

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Admissions

Wake Forest University received 16,857 undergraduate applications in 2022, which represents a 11.2% annual growth. Out of those 16,857 applicants, 3,602 students were accepted for enrollment, representing a 21.4% acceptance rate.

There were 8,963 students enrolled at Wake Forest University in 2022.

Wake Forest University has an overall enrollment yield of 38%, which represents the number of admitted students who ended up enrolling.

Acceptance Rate

21.4%
Acceptance Rate in 2022
3,602
Accepted Out of 16,857

In 2022, the undergraduate acceptance rate of Wake Forest University was 21.4% (3,602 admissions from 16,857 applications). This is lower than the acceptance rate of 2021, which was 25.2%. Between 2021 and 2022, the number of applicants grew by 11.2%, while admissions declined by −5.61%..

This chart compares the acceptance rate of Wake Forest University (in red) with that of other similar universities, and the chart below shows the acceptance rate by gender.

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Enrollment

Wake Forest University had a total enrollment of 8,963 students in 2022. The full-time enrollment at Wake Forest University is 7,952 students and the part-time enrollment is 1,011. This means that 88.7% of students enrolled at Wake Forest University are enrolled full-time.

The enrolled student population at Wake Forest University, both undergraduate and graduate, is 63.3% White, 8.67% Hispanic or Latino, 7.77% Black or African American, 5.12% Asian, 4.35% Two or More Races, and 0.123% American Indian or Alaska Native.

Students enrolled at Wake Forest University in full-time Undergraduate programs are most commonly White Female (36.9%), followed by White Male (28.9%) and Hispanic or Latino Female (5.23%). Students enrolled in full-time Graduate programs are most commonly White Female (31.2%), followed by White Male (25.4%) and Hispanic or Latino Female (5.07%).

Full-Time vs Part-Time Enrollment

88.7%
Full-Time Enrollment

The total enrollment at Wake Forest University in 2022, both undergraduate and graduate, is 8,963 students. The full-time enrollment at Wake Forest University is 7,952 and the part-time enrollment is 1,011. This means that 88.7% of students enrolled at Wake Forest University are enrolled full-time compared with 77.4% at similar Doctoral Universities.

This chart shows the full-time vs part-time enrollment status at Wake Forest University (in red) compares to similar universities.

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Retention Rate over Time

94%
2022 Retention Rate

Retention rate measures the number of first-time students who began their studies the previous fall and returned to school the following fall. The retention rate for full-time undergraduates at Wake Forest University was 94%. Compared with the full-time retention rate at similar Doctoral Universities (84%), Wake Forest University had a retention rate higher than its peers.

This chart shows the retention rate over time at Wake Forest University (highlighted in red) compares to similar universities.

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Enrollment by Race & Ethnicity

Most Common Race or Ethnicity (2022)
  1. White
    5,676 enrolled students
  2. Hispanic or Latino
    777 enrolled students
  3. Black or African American
    696 enrolled students

The enrolled student population at Wake Forest University is 63.3% White, 8.67% Hispanic or Latino, 7.77% Black or African American, 5.12% Asian, 4.35% Two or More Races, and 0.123% American Indian or Alaska Native. This includes both full-time and part-time students as well as graduate and undergraduates. By comparison, enrollment for all Doctoral Universities is 47.5% White, 15.5% Hispanic or Latino, and 9.58% Black or African American.

Any student who is studying in the United States on a temporary basis is categorized as a "Non-Resident Alien", and the share of those students are shown in the chart below. Additionally, 111 students (1.24%) did not report their race.

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Graduates

In 2022, 269 more women than men received degrees from Wake Forest University. The most common race/ethnicity group of degree recipients at Wake Forest University is white (1,881 degrees awarded). There were 8.67 times more white recipients than the next closest race/ethnicity group, black or african american (217 degrees).

The most common Masters Degree concentration at Wake Forest University is General Business Administration & Management (214 degrees awarded), followed by Management Science (199 degrees) and Other Management Sciences & Quantitative Methods (110 degrees).

In 2022,  the most specialized majors across all degree types at Wake Forest University, meaning they have significantly more degrees awarded in that concentration than the national average across all institutions, are Legal (282 degrees awarded), Philosophy and Religious Studies (41 degrees), and Math & Statistics (87 degrees).

Common Jobs by Major

The most common jobs for people who hold a degree in one of the 5 most specialized majors at Wake Forest University are Lawyers, & judges, magistrates, & other judicial workers (445,722 people), Other managers (289,661 people), Elementary & middle school teachers (194,234 people), Postsecondary teachers (184,201 people), and Chief executives & legislators (140,583 people).

The most specialized majors at Wake Forest University in 2022 are Legal (282 degrees awarded), Philosophy and Religious Studies (41 degrees), Math & Statistics (87 degrees), History (52 degrees), and Social Sciences (315 degrees) (as of 2022).

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Highest Paying Jobs by Major

The highest paying jobs for people who hold a degree in one of the 5 most specialized majors at Wake Forest University are Diagnostic medical sonographers, Surgeons, Cardiovascular technologists and technicians, Securities, commodities, & financial services sales agents, and Magnetic resonance imaging technologists

The most specialized majors at Wake Forest University are Legal (282 degrees awarded), Philosophy and Religious Studies (41 degrees), Math & Statistics (87 degrees), History (52 degrees), and Social Sciences (315 degrees) (as of 2022).

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Common Industries by Major

Most Common Industry

The most common industries for people who hold a degree in one of the 5 most specialized majors at Wake Forest University are Elementary & secondary schools (491,377 people), Colleges, universities & professional schools, including junior colleges (373,111 people), Legal services (357,727 people), Computer Systems Design (264,346 people), and Justice, public order, & safety activities (209,791 people).

The most specialized majors at Wake Forest University are Legal (282 degrees awarded), Philosophy and Religious Studies (41 degrees), Math & Statistics (87 degrees), History (52 degrees), and Social Sciences (315 degrees) (as of 2022).

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Majors Awarded

IPEDS uses the Classification of Instructional Programs (CIP) standard, so the categories may not match the exact concentrations offered by Wake Forest University.
Most Common (2022)
  1. 154 degrees awarded
  2. 147 degrees awarded
  3. 133 degrees awarded

In 2022, the most common bachelors degree concentration at Wake Forest University was General Business with 154 degrees awarded.

This visualization illustrates the percentage of degree-majors recipients from bachelors degree programs at Wake Forest University according to their major.

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Sex Breakdown for Common Majors

1,355
Degrees Awarded to Men
in 2022
1,624
Degrees Awarded to Women
in 2022

In 2022, 1,355 degrees were awarded to men at Wake Forest University, which is 0.834 times less than the number of degrees awarded to females (1,624).

This chart displays the sex disparity between the top 5 majors at Wake Forest University by degrees awarded.

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Most Common Male Majors

In 2022, 122 degrees were awarded to men at Wake Forest University in Management Science, which is 1.28 times more than the 95 female recipients with that same degree.

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Most Common Female Majors

In 2022, 118 degrees were awarded to men at Wake Forest University in Law, which is 1.37 times more than the 86 male recipients with that same degree.

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Time to Complete

85%
100% Completion Time
89%
150% Completion Time

In 2022, 85% of students graduating from Wake Forest University completed their program within 100% "normal time" (i.e. 4 years for a 4-year degree). Comparatively, 89% completed their degrees within 150% of the normal time, and 89% within 200%.

The following chart shows these completion rates over time compared to the average for the Doctoral Universities Carnegie Classification group.

Graduation rate is defined as the percentage of full-time, first-time students who received a degree or award within a specific percentage of "normal time" to completion for their program.

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Graduation Rate by Race and Sex

Showing demographic groups with ≥ 5 graduating students.
American Indian or Alaska Native Male
Highest Graduation Rate (100%)

The student demographic with the highest graduation rate in 2022 at Wake Forest University is Male and American Indian or Alaska Native (100% graduation rate). Across all Doctoral Universities, Asian Female students have the highest graduation rate (73.2%).

The department of education defines graduation rate as the percentage of full-time, first-time students who received a degree or award within 150% of "normal time" to completion.

The National Center for Education Statistics (NCES) categorizes any student who is studying in the United States on a temporary basis as a "Non-Resident Alien", and the graduation rate of those students is shown in the chart below. Additionally, 0.342% of graduates (4 students) did not report their race.

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Race & Ethnicity by Share

Most Common Student Race or Ethnicity (2022)
  1. White
    1,881 degrees awarded
  2. Black or African American
    217 degrees awarded
  3. Hispanic or Latino
    207 degrees awarded

The most common race/ethnicity at Wake Forest University is white (1,881 degrees awarded). There were 8.67 times more white recipients than the next closest race/ethnicity group, black or african american (217 degrees).

0.671% of degree recipients (20 students) did not report their race.

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Race & Ethnicity by Sex

Most Common Sex Demographic (2022)
  1. White Female
    1,009 degrees awarded
  2. White Male
    872 degrees awarded
  3. Black or African American Female
    132 degrees awarded

The most common race/ethnicity and sex grouping at Wake Forest University is white female (1,009 degrees awarded). There were 1.16 times more white female recipients than the next closest race/ethnicity group, white male (872 degrees).

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Operations

Wake Forest University has an endowment valued at nearly $1.82B, as of the end of the 2022 fiscal year. The return on its endowment was of −NaNM (−1.14%) compared to the 1.13% average return (4.2M on 373M) across all Doctoral Universities.

In 2022, Wake Forest University had a total salary expenditure of 1.89B. Wake Forest University employs 204 Professors, 193 Associate professors and 154 Assistant professors. Most academics at Wake Forest University are Male Professor (131), Male Associate professor (104), and Female Associate professor (89).

The most common positions for non-instructional staff at Wake Forest University are: Business and Financial Operations, with 431 employees, Service, with 232 employees, and Office and Administrative Support with 231 employees.

Endowment

$1.82B
2022 Endowment
2.32%
decline from 2021

Wake Forest University has an endowment valued at about $1.82B, as of the end of the 2022 fiscal year. The endowment of Wake Forest University declined 2.32% from the previous year. The value of their endowment was $1.45B higher than than the median endowment of Doctoral Universities according to the Carnegie Classification grouping.

This line chart shows how the endowment at Wake Forest University (in red) compares to that of some similar universities.

The small bar chart below shows the endowment quintiles for all universities in the Doctoral Universities: Higher Research Activity Carnegie Classification grouping.

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Salary Expenditure

$1.02B
2022 Salaries
4.93%
growth from 2021

In 2022, Wake Forest University paid a median of $1.02B in salaries, which represents 53.8% of their overall expenditure ($1.89B) and a 4.93% growth from the previous year.

The median for similar Doctoral Universities is 246M (41.5% of overall expenditures).

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Instructional Salaries

$72M
Instructional Salaries
656
Number of Employees

In 2022, Wake Forest University paid a total of $72M to 656 employees working as instructors, which represents 7.09% of all salaries paid.

This is compared to a median of $73.7M (30%) for similar Doctoral Universities.

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Occupations by Share

Professor
Most Common Instructor
204 Employees
Business and Financial Operations
Most Common Non-Instructional Employee
431 Employees

In 2022, the most common positions for instructional staff at Wake Forest University were Professor with 204 employees, Associate professor with 193 employees, and Assistant professor with 154 employees.

In 2022, the most common positions for non-instructional staff at Wake Forest University were Business and Financial Operations with 431 employees, Service with 232 employees, and Office and Administrative Support with 231 employees.

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Instructors by Academic Rank and Sex

Most Common Demographic (2022)
  1. Male Professor
  2. Male Associate professor
  3. Female Associate professor

In 2022, the most common demographic for instructional staff at Wake Forest University was Male Professor with 131 employees, Male Associate professor with 104 employees, and Female Associate professor with 89 employees.

This chart shows the sex split between each academic rank present at Wake Forest University.

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