#40: San Francisco Conservatory of Music
10-Year Avg. Payoff: -$32,000
San Francisco Conservatory of Music has trained musicians in the Bay Area for more than a century. Founded in 1917, the school is centered on serious conservatory study, with programs in performance, composition, conducting, technology, and other music-focused fields.

The -$32,000 payoff shows how difficult the first decade can be for music graduates. San Francisco is expensive, and performance careers often start with auditions, freelance work, teaching, or short-term gigs. The number may improve for alumni who secure steady ensemble, recording, education, or arts-industry roles.
