If you’re one of the many students who are graduating college this year, then you may be wondering what exactly is the average starting salary for a college graduate. Well if you’re not too concerned with location and moreso with getting that first bite of the proverbial apple, then read on.
As a college graduate, you are likely to wonder what the starting salary is for a college graduate. You’ve made it over the finish line and have your degree in hand (or will very soon if you’re like most students). But now that you are about to enter the real world, it is hard to tell what potential employers will be offering you.
The average starting salary for college graduates in 2009 was $35,293. The highest reported starting salary was $94,545 (for nurses and other health care providers).
What is the average starting salary for a college graduate
Introduction
If you’re deciding whether or not to attend college, it may help to know the average starting salary for recent graduates. Learning what the average starting salary is will give you an idea of how much money you’ll likely earn after you graduate. Keep in mind that the average starting salary for recent graduates varies depending on which field they majored in. It also varies based on where they went to school and what type of degree they received. Finally, keep in mind that earning a degree does not guarantee that your starting salary will be anywhere near the average starting salary.
The average starting salary for a recent college graduate varies depending on the field.
The average starting salary for a recent college graduate varies depending on the field, industry and region in which they work. In general, male workers earn more than female workers do. Racial minorities tend to be underrepresented in fields that pay higher salaries than other fields, but this is slowly changing as racial diversity increases across all sectors.
In some cases, differences in regional variation can be dramatic, while they may not be significant at all within certain industries or specific companies. For example:
- A recent study by Glassdoor found that graduates with an engineering degree from Michigan’s University of Michigan earned $62k on average; meanwhile graduates with an engineering degree from Stanford University earned $84k on average!
the top six highest-paying majors for college graduates are petroleum engineering, computer science, mechanical engineering, electrical engineering, molecular biology and applied mathematics.
According to the National Association of Colleges and Employers (NACE), the top six highest-paying majors for college graduates are:
- Petroleum engineering. The average starting salary for a recent college graduate with this major is $98,000.
- Computer science. The average starting salary for a recent college graduate with this major is $75,900.
- Mechanical engineering. The average starting salary for a recent college graduate with this major is $64,800.
- Electrical engineering. The average starting salary for a recent college graduate with this major is $62,500.* Molecular biology or applied mathematics—tied at #4 on the list of highest-paying majors, these two fields have similar average starting salaries of approximately $60,000.* Applied mathematics—at #5 on our list of highest-paying majors and leading off our section about low-cost areas where you can find reasonable housing if you’re willing to commute from campus or live off campus in another area like nearby cities such as New Haven or Bridgeport (which both cost less than Boston).
Some majors result in higher salaries even if they don’t rank as the highest-salary majors.
Some majors result in higher salaries even if they don’t rank as the highest-salary majors. For example, the top six highest-paying majors for college graduates are petroleum engineering, computer science, mechanical engineering, electrical engineering, molecular biology and applied mathematics. However, these aren’t among the most popular majors at many schools. Some people choose a lower-paying major because they want to find work that allows them to use their skills in ways that interest them more than money would.
Some colleges have significantly higher average starting salaries than others.
If you’re a college student, one of the most important considerations you have to make when choosing which school to attend is the average starting salary for a graduate. Different colleges offer different levels of pay, and it’s important to know what those numbers are before deciding on a major or institution. Some schools have significantly higher salaries than others. The top six colleges with the highest average starting salaries include Princeton ($78,000), Harvard ($70,000), Yale ($63,000), MIT (60K), Stanford ($58k), and Columbia ($57k).
If you want to get into these schools but don’t think your grades will cut it—don’t worry! You can still apply for admission via merit-based scholarships that take into account your academic accomplishments even if they aren’t quite perfect enough for admission based solely on grades alone.
Attending college doesn’t guarantee a well-paying job right out of school.
Attending college doesn’t guarantee a well-paying job right out of school. Some fields of study have higher starting salaries than others, but this doesn’t mean you should major in them just for the money.
The average salary for recent college graduates depends on many factors: your major, where you work, your industry and more. The U.S. Bureau of Labor Statistics found that the median annual wage for workers who earned a bachelor’s degree was $50,000 as of May 2016—but it also depends on where they live and what field they studied in college.
Whether you go to college matters less than what you study in college.
Whether you go to college matters less than what you study in college.
Many students and parents believe that going to a particular school will lead to a better job, but the reality is more complicated: Education is not just about where you go, it’s also about what you do while you are there. While having some kind of postsecondary credential has become increasingly important for getting hired, job prospects are better for graduates with a bachelor’s degree than they are for someone with only a high school diploma or less. College graduates are more likely to be employed—and earn higher wages—than non-graduates.
But not all degrees are created equal: You may get more out of an undergraduate degree in engineering than one in English literature or theater arts (though these fields have their merits as well). There is no single path forward when it comes to deciding which majors offer the best chance at finding work after graduation; each field requires different skillsets and knowledge bases that can’t necessarily be learned from books alone.
Conclusion
It’s important to note that, at least in this survey, starting salary by major was more influential than the college attended. Therefore, it may be worth considering which majors have the highest starting salaries when you’re picking a major or making plans for your future education.
