There is good news for the Class of 2024: Salary projections for all reported groups of majors are higher than the projections reported for the Class of 2023
Slightly more than 43% of employers plan to increase starting salaries to Class of 2024 bachelor’s degree graduates, and nearly all remaining employers anticipate keeping salaries at last year’s levels.
What is the value of earning an advanced degree? In terms of salary, some Class of 2022 majors benefited significantly by earning a master’s degree.
The overall average starting salary for Class of 2022 graduates who earned bachelor’s degree is up 7.4%, climbing to $60,028 from $55,911 for the Class of 2021.
What is the advantage of obtaining a master’s degree? In terms of average starting salary, that advantage has been declining in recent years.
All reported categories of majors at the master’s degree level show projected increases for the Class of 2023.
The average salary projection for computer sciences graduates at the bachelor’s degree level is expected to be lower than last year, but these grads remain in high demand.
The overall average salary for Class of 2021 graduates is $55,911, which is only 1.2% higher than that for the Class of 2020 ($55,260). The fact that the increase in starting salary is small may simply be a case of timing as the Class of 2021 was still experiencing the effects of the COVID-19 pandemic on the job market.
When a candidate is put in a situation to name a salary or negotiate a salary provided by the employer, the candidate is not being paid based on their merit and skills but rather on how well they handle a negotiation discussion.
The top-paid categories for Class of 2021 master’s degree graduates were computer sciences and engineering, according to results of NACE’s Summer 2022 Salary Survey, which is the final salary report for the Class of 2021. (See Figure 1.)
In terms of a college graduate’s starting salary, earning a master’s degree can make a substantial difference.
Applying valuative bias theory, NACE research examines the gender pay gap in three STEM majors.
In comparing both the first destinations and the lifelong professional outcomes for women and men, there are some notable disparities, including in pay. What part can higher ed play in eliminating the gender pay gap?
What are the projected top-paid Class of 2017 engineering majors? Chemical engineers at the bachelor’s level and software engineers among master’s graduates.
A study of the average starting salary offers illustrates the imbalance in earning potential between men and women on the basis of academic major.
Management information systems majors are projected to have the highest starting salary among Class of 2020 business graduates earning bachelor’s degrees.
While engineering, computer science, and math and sciences degrees continue to be the highest earning bachelor’s degrees, the individual average projections for these degrees appear to have leveled.
Class of 2022 bachelor’s degree graduates earning degrees in the computer sciences are expected to command top dollar, according to the Winter 2022 Salary Survey, published by the National Association of Colleges and Employers.
Management information systems majors are the projected top-paid Class of 2017 business majors at the bachelor’s level, while marketing majors are expected to be tops at the master’s level.
The final overall average starting salary for the Class of 2019 is $53,889, which is up 5.8 percent over the final average starting salary of $50,944 for the Class of 2018.
Computer sciences majors have the highest starting salary at the master’s-degree level for the Class of 2019, while business grads are the top-paid at the doctoral level.
Transportation and materials moving majors earned the highest average starting salary by far among Class of 2019 associate degree graduates.
The average starting salary projections for all reported categories of majors for Class of 2021 bachelor’s degree graduates show increases, albeit some of them are on the smaller side.
Data from NACE’s Winter 2021 Salary Survey show the value of computer sciences majors in the current job market.
Starting salaries are expected to increase among many master’s degree majors this year.
The average hourly wage for bachelor’s-level interns has increased steadily since 2014. Despite the COVID-19 pandemic, that is the case again this year.
The final overall average starting salary for the college Class of 2020 landed at $55,260—2.5% above the final average starting salary for the Class of 2019.
What value can a master’s degree have over a bachelor’s degree? For certain majors, the differential in starting salaries is substantial.
Taken from current NACE research, this is an at-a-glance list of average starting salaries for new college graduates (bachelor’s degree level) and director-level career services and recruiting professionals, plus some benefits and expectations information.
Using NACE’s Salary Survey report, Andrea Koncz offers a historical perspective on starting salaries to new college graduates from 1960 through 2015. The overall economy, corporate scandals, new legal requirements, the dot-com bubble and burst—a variety of factors have affected the rise and fall of starting salaries for new college graduates over the past half century. Overall, in real terms, bachelor’s degree level salaries have risen 5.9 percent since 1960.
starting salary; compensation; master’s degree; doctoral degree; advanced degree; first destination; Class of 2020; Salary Survey
Does salary matter to graduates from the college Class of 2021? No … and yes, according to students responding to NACE’s 2021 Student Survey.
Results from NACE’s First Destinations Survey for the Class of 2020 reveal that the gap in pay between men and women begins right out of college—at the start of the career.
Average starting salary projections for the Class of 2022 range from an increase of 5.4% to a decrease of 14.8%.
There are many factors that contribute to the gender pay gap and severe consequences of long-term inequity in pay.
Increasing salary transparency in general and including information on potential payroll deductions can go a long way towards a more equitable work environment.