Salary Projections for the Class of 2024 Are Up From Last Year

BETHLEHEM, PA—There is good news for the Class of 2024: Salary projections at the bachelor’s degree level are higher than the projections reported for the Class of 2023, according to a new report from the National Association of Colleges and Employers (NACE).

“Although the overall hiring projection for Class of 2024 bachelor’s degree graduates is down slightly from last year, the increase in salary projections across the board reported in our Winter 2024 Salary Survey indicates healthy demand for this year’s class,” says Shawn VanDerziel, NACE’s president and chief executive officer.

With an overall projected average salary of $76,736, engineering graduates are expected to be the Class of 2024’s top-paid majors. This is a 3.1% increase over last year’s projections. (See Figure 1.)

As was the case last year, computer sciences majors are expected to be second on the list of top-paid majors. Their projected 2.7% increase to $74,778 is an upswing from the 4% decrease computer sciences majors from the Class of 2023 were expected to experience.

The average salary projection for math and sciences graduates ($71,076) is almost 6% greater than last year’s average projection.

Business graduates from the Class of 2024 have an average salary projection that is 3% higher, lifting it to $63,907.

In addition, business majors account for six of the top 10 degrees most in demand among employers at the bachelor’s degree level; computer sciences and engineering majors round out the list. At least 60% of responding employers plan to hire finance, accounting, and computer science majors. (See Figure 2.)

About Winter 2024 Salary Survey: The Winter 2024 Salary Survey report contains annual salary projections for Class of 2024 college graduates. The figures reported are for base salaries only and do not include bonuses, commissions, fringe benefits, or overtime rates. The report provides detailed salary projections by academic major and degree level, along with breakouts by both industry and geographic region. Data contained in the report were obtained by surveying employer members of the National Association of Colleges and Employers (NACE) from October 4, 2023, through November 30, 2023. A total of 172 surveys were returned—a 19.3% response rate.

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 12,300 college career services professionals, more than 4,000 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.