What is the starting salary for Software Engineering graduates in Memphis?

The estimated starting salary for Software Engineering graduates in Memphis, TN is $81,840 per year, adjusted for the local cost of living index of 93. The national average starting salary for this major is $88,000. Salaries in Memphis are 7% lower than the national average due to cost of living differences.

Is a Software Engineering degree worth it in Memphis?

A Software Engineering degree in Memphis has an estimated ROI payback period of 2 years, with a projected lifetime return of $1,001,072 after subtracting education costs. With 22 colleges in the area and average public tuition of $9,944/year, Memphis offers affordable options for this degree. The local unemployment rate of 3% and the major's national unemployment rate of 2% should also factor into your decision.

How much does it cost to study Software Engineering in Memphis?

The average annual public university tuition in Memphis is $9,944, while private universities average $44,033/year. Including room and board ($14,138/year), total 4-year costs range from $96,328 at a public school to $232,684 at a private institution. Average financial aid per student in Memphis is $10,619/year.

What jobs can Software Engineering graduates get in Memphis?

Software Engineering graduates in Memphis can pursue careers as Software Developer, DevOps Engineer, QA Engineer. Key skills valued by local employers include Software Design, Testing, Agile, DevOps. The Memphis job market features Tech companies, Research labs, Government agencies among the top hiring sectors for this field. National top employers include Google, Microsoft, Apple.

How long to pay off student loans for Software Engineering in Memphis?

With a standard 10-year repayment plan at 6.5% interest, Software Engineering graduates in Memphis would pay $1,094/month on an estimated $96,328 in loans, with $34,926 in total interest. An aggressive 5-year plan would require $1,885/month but save $18,168 in interest. With a COL-adjusted starting salary of $81,840, monthly payments would represent 16% of gross monthly income.

Software Engineering Degree in Memphis, TN — Salary & ROI 2026

Software Engineering degree analysis for Memphis, TN. COL-adjusted salary data, local tuition costs, ROI calculator, and job market outlook.

Starting Salary

$82K

COL-adjusted

Mid-Career

$119K

COL-adjusted

ROI Payback

2 yrs

in Memphis

Cost of Living

index (100 = avg)

Software Engineering in Memphis, TN Overview

Memphis is one of Tennessee's top college towns, with 22 institutions and a student population of 42,935. Public tuition averages $9,944/year here — well below the national average, making it a cost-effective choice. Software Engineering has seen growing enrollment nationally, reflecting rising employer demand for Software Design and Testing skills. The adjusted starting salary in Memphis is approximately $81,840.

Software Engineering Salary in Memphis (COL-Adjusted)

Salaries adjusted for Memphis's cost of living index of 93 (national average = 100).

Entry Level (0-2 yrs)

$81,840($-6,160 vs national)

Mid Career (5-9 yrs)

$119,040($-8,960 vs national)

Senior Level (15+ yrs)

$148,800($-11,200 vs national)

Note: National average Software Engineering salary: $88,000 starting, $128,000 mid-career, $160,000 senior level.Memphis adjustment factor: 0.93x based on the local cost of living index.

Software Engineering ROI Calculator for Memphis

Estimate your return on investment for a Software Engineering degree using local Memphis tuition and cost of living data.

Annual Tuition ($)

Public avg: $9,944 | Private avg: $44,033

Years of Study

Annual Financial Aid ($)

Memphis avg aid: $10,619/yr

Student Loan Rate (%)

Federal avg: 6.5% | Private: 4-14%

Total Education Cost

$96,328

tuition + room & board - aid

Annual Earnings Premium

$49,290

vs HS diploma in Memphis

ROI Payback Period

2 years

to break even

Lifetime Return in Memphis

$1,001,072

Lifetime earnings premium ($1,097,400) minus total education cost ($96,328)

Student Loan Payoff for Software Engineering in Memphis

Standard Plan (10 years)

Loan Amount$96,328

Monthly Payment$1,094

Total Interest$34,926

% of Monthly Income16%

Aggressive Plan (5 years)

Loan Amount$96,328

Monthly Payment$1,885

Total Interest$16,758

Interest Savings$18,168

Colleges in Memphis for Software Engineering

University of Memphis

public

$9,944/yr

$39,776 total

Rhodes College

private

$52,366/yr

$209,464 total

Christian Brothers University

private

$35,700/yr

$142,800 total

Community Colleges (2-Year Transfer)

Southwest Tennessee Community College

$4,464/yr

Top Employers for Software Engineering in Memphis

Memphis offers opportunities in Tech companies, Research labs, Government agencies for Software Engineering graduates. National top employers in this field include:

GoogleMicrosoftAppleAmazonSalesforce

Key Memphis Hiring Sectors for STEM

Tech companies

Research labs

Government agencies

Startups

Consulting firms

Common Software Engineering Job Titles

Software DeveloperDevOps EngineerQA Engineer

Software Engineering in Nearby Tennessee Cities

Nashville, TN

$81K starting · COL 92

35 colleges

Knoxville, TN

$75K starting · COL 85

5 colleges

Chattanooga, TN

$70K starting · COL 80

5 colleges

Clarksville, TN

$79K starting · COL 90

9 colleges

Murfreesboro, TN

$80K starting · COL 91

10 colleges

Franklin, TN

$104K starting · COL 118.5

4 colleges

Jackson, TN

$73K starting · COL 82.5

3 colleges

Johnson City, TN

$92K starting · COL 105

6 colleges

Other STEM Majors in Memphis

Prompt Engineering

$47K starting · 1.5 yr ROI

Computational Linguistics

$88K starting · 2 yr ROI

Computer Science

$79K starting · 2.8 yr ROI

Data Science

$76K starting · 3 yr ROI

Astrophysics

$79K starting · 3 yr ROI

Actuarial Science

$47K starting · 3 yr ROI

Cybersecurity

$74K starting · 3 yr ROI

Robotics Engineering

$47K starting · 3 yr ROI

Methodology & Education Data Sources

How we calculate Software Engineering degree outcomes in Memphis, TN: Our salary projections, ROI estimates, and tuition data combine multiple federal datasets to provide a localized view of education economics. We use a 10-year career-trajectory model standard in higher education research.

Tuition data sourced from IPEDS (Integrated Postsecondary Education Data System), the federal education statistics database operated by NCES. Average tuition for Software Engineering programs reflects 4-year public/private weighted averages for Tennessee.
Career salary projections based on BLS Occupational Employment and Wage Statistics, with cost-of-living adjustments for Memphis using regional CPI data.
10-year ROI calculates: (Total Career Earnings With Degree) − (Total Career Earnings Without Degree) − (Total Education Cost Including Interest on Loans).
Job market outlook for Software Engineering graduates uses BLS Occupational Outlook Handbook 10-year projections (2024-2034 base period).
Default rates and loan data sourced from College Scorecard (US Department of Education), which tracks repayment outcomes by institution.

Authoritative US education data sources:

IPEDS — Integrated Postsecondary Education Data — official federal college data
College Scorecard (US Dept of Education) — earnings, debt, completion rates
BLS Occupational Outlook Handbook — Software Engineering career projections
Federal Student Aid (FAFSA) — official US student loan and grant info
NCES Digest of Education Statistics — comprehensive education data
BLS Occupational Employment and Wages — entry-level salary data for Software Engineering grads

Education Disclaimer: Salary and ROI estimates are projections based on national and state-level averages. Individual outcomes depend on institution prestige, GPA, internships, location, network, and economic conditions. Always verify current tuition with the institution directly, and consult a financial aid counselor before taking on student loans. Use the Federal Loan Simulator to model repayment scenarios.

Reviewed by Brazora Monk · Last updated 2026 · IPEDS & BLS data current as of latest annual release

Financial Aid Resources for Memphis Students

Beyond federal aid (FAFSA), Tennessee students have access to state-specific grants, scholarships, and tuition assistance programs. The 2026-27 FAFSA also added a new Low Earnings Indicator (Dec 2025) flagging programs where graduates earn less than non-college peers — check your target school's status:

📋 Federal Aid (FAFSA)

Pell Grant up to $7,395/yr (2026-27). Subsidized loans at 6.53% (academic year 25-26):

🏛️ State Grants (Tennessee)

State-specific grants stack with federal aid:

• USA.gov — Tennessee programs
• NASFAA — State Aid Programs
• Search "tennessee higher education commission grants"

🎓 College Outcomes Data

Verify earnings + debt before enrolling:

• College Scorecard — earnings, debt, completion
• NCES College Navigator
• IPEDS Net Price Calculator Center

💰 Scholarship Search

Free, official, scam-free scholarship databases:

2026-27 FAFSA tip: The new Low Earnings Indicator flags programs where graduates earn less than non-graduates. Check this before enrolling. Speak with a NASFAA-credentialed financial aid counselor at your target school.

Software Engineering Degree in Memphis — FAQ

Data Sources: Salary data from BLS Occupational Outlook Handbook. Cost of living from BLS Regional Data. College data from NCES/IPEDS. Updated March 2026.

Explore More

Compare Software Engineering ROI in other cities, or explore other majors in Memphis.

Software Engineering Overview Colleges in Memphis All Majors