Projections Point to Salary Increases for Class of 2024 Bachelor’s Grads

January 30, 2024 | By Kevin Gray

Someone analyzes research data from NACE's Winter Salary Survey.

TAGS: compensation, nace insights, salaries, surveys,

There is good news for the Class of 2024: Salary projections for all reported groups of majors at the bachelor’s degree level are higher than the projections reported for the Class of 2023, according to results of NACE’s Winter 2024 Salary Survey.

This is an improvement over last year, when not all categories of majors had larger starting salary projections than those from the Class of 2022.

Moreover, although the overall hiring projection for Class of 2024 bachelor’s degree graduates is down 1.9% from last year, the increase in salary projections across the board indicates healthy demand for this year’s class.

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.)

Like last year, computer sciences majors are expected to be second on the top-paid majors list. Their projected 2.7% increase to $74,778 is an upswing from the 4% decrease 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, while 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.)

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. NACE members can access the full report in MyNACE.

Figure 1

Figure 2

blank default headshot of a user Kevin Gray is an associate editor at NACE. He can be reached at