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I agree about non-monetary factors being quite important in career choices - if money were the primary consideration, I'd be at a hedge fund right now.
If you look into the numbers in the original report, you'll see that the differences between public and private institutions are pretty small. Much more interesting to me are the university / college differences, which are a lot bigger than the public/private differences. Universities don't fare so well in a lot of areas.
I spent most of my academic career at Dartmouth. Though technically it's a university (there are a few small graduate programs), it's probably a lot more like the colleges in the study population than the universities. The quality of life there was one of the primary reasons I chose it over university alternatives.