Cost of Living Is the Key Driver in Graduates’ Willingness to Relocate

BETHLEHEM, PA—Graduating students weighing job offers heavily consider the cost of living in each job’s location when making their decision, according to a new survey conducted by the National Association of Colleges and Employers (NACE).

More than 84% of graduates responding to NACE’s 2024 Student Survey identified cost of living as the top factor in determining their willingness to relocate for a job.

“This aligns with students’ quest for economic security. They recognize that, because of cost-of-living disparities between locations, starting salaries are not ‘apples to apples,’ therefore impacting their economic well-being,” says Shawn VanDerziel, NACE’s president and chief executive officer.  

The survey results clearly illustrate the weight graduating students place on cost of living, as it outpaces other considerations, such as a diverse and tolerant community, available green spaces, social issues, and public transportation. (See Figure 1.)

About the 2024 Student Survey: Each year, the National Association of Colleges and Employers (NACE) surveys college students across the country about their experiences, behaviors, attitudes, and preferences as they relate to career development, the job search, and

employment. NACE’s 2024 Student Survey, sponsored by Indeed, was conducted March 13 through May 15, 2024. In all, 20,955 students responded from 253 colleges and universities. Of those, 2,281 were Class of 2024 graduating seniors at the bachelor’s degree level.

About the National Association of Colleges and Employers: Established in 1956, the National Association of Colleges and Employers (NACE) is the only professional association in the United States that connects more than 13,000 college career services professionals, more than 3,800 early career talent acquisition professionals, and more than 400 business solution providers that serve this community.

NACE is the premier source of market research on career readiness, the employment of recent college graduates, and the college-to-career transition. NACE forecasts hiring and trends in the job market; tracks salaries, recruiting and hiring practices, and student attitudes and outcomes; and identifies best practices and benchmarks.

NACE offers its members unparalleled research, networking and professional development opportunities, guidance on standards and ethics, and advocacy on key issues. For more information, visit www.naceweb.org. NACE maintains a virtual press room for the media.