A good starting salary for a recent college graduate can vary depending on factors such as the field of study, location, and industry. Generally, a competitive starting salary could range between $45,000 to $60,000 per year.
Complete answer
As an expert in the field, I can provide a more detailed answer to the question: What is a good starting salary for a recent college graduate?
The salary for a recent college graduate can vary significantly based on several factors, including the field of study, location, industry, and the candidate’s level of experience or qualifications. While it’s challenging to provide an exact figure, a competitive starting salary for most graduates typically falls within the range of $45,000 to $60,000 per year.
Field of study plays a crucial role in determining the starting salary. Graduates from fields such as engineering, computer science, business, and healthcare often command higher salaries due to their higher demand and specialized skill sets. On the other hand, liberal arts or humanities graduates may begin with slightly lower starting salaries, but their earning potential can increase over time as they gain experience and expertise in their chosen field.
Location also plays a significant role in salary determination. Salaries tend to be higher in metropolitan areas with a high cost of living, such as New York City, San Francisco, or Boston. Conversely, salaries may be lower in rural areas with a lower cost of living. It is essential to consider the regional salary norms when evaluating a starting salary offer.
Moreover, the industry in which a recent graduate enters can impact the starting salary. Some industries, like finance, technology, consulting, and healthcare, are known for offering higher starting salaries due to the demand for talent and the competitive nature of these sectors. On the other hand, nonprofit organizations or government entities may offer slightly lower starting salaries but often come with other benefits such as job security or work-life balance.
To emphasize the importance of salary negotiation and understanding your worth as a recent college graduate, I would like to quote Jim Camp, a renowned negotiation coach and author, who once said, “The salary you negotiate for yourself directly determines the experiences you have.”
Here are some interesting facts related to starting salaries for recent college graduates:
- According to a survey conducted by the National Association of Colleges and Employers (NACE), the average starting salary for college graduates in 2021 was $55,260.
- The starting salaries for STEM (Science, Technology, Engineering, and Mathematics) graduates tend to be higher than those for graduates in non-STEM fields.
- The cost of living is a crucial factor to consider when evaluating a starting salary offer. For example, $60,000 may provide a higher standard of living in a smaller city compared to a larger metropolitan area.
- Research shows that negotiating a starting salary can lead to higher initial offers and long-term earning potential. Graduates should not shy away from having these discussions with potential employers.
To summarize, a good starting salary for a recent college graduate can range between $45,000 to $60,000 per year, but it is essential to consider various factors like field of study, location, and industry. Remember to negotiate your worth, and as Jim Camp suggested, your salary negotiation directly shapes your future experiences.
Response to your question in video format
A survey about salary expectations among college graduates is discussed in this video. The survey reveals that many college graduates have unrealistic salary expectations, with some aiming for six-figure salaries in their first jobs. However, the reality is that most graduates can expect to earn around $55,000 in their initial jobs. The survey organizers attribute these unrealistic expectations to the worker shortage and a strong economy, which have led some businesses to increase starting salaries to attract top talent. The study also finds that salaries in math and sciences are rising while humanities salaries are falling, with liberal arts and psychology majors overestimating their starting salaries. Ultimately, it is important for college graduates to adjust their salary expectations to align with the current job market.
See more answer options
Students who graduated with bachelor’s degrees from public institutions have an average starting salary of $58,145, in 2021. Graduates of private master’s degree programs earn an average starting salary of $76,883, in 2021.
The average median starting salary for recent college graduates is $55,260, according to a 2021 report from the National Association of Colleges and Employers, but some Class of 2020 alumni are making far more than that.
The average starting salary for college graduates is $55,260, with a wide range of variance across majors and fields. Undergraduate students overestimate their starting salaries by nearly twice that much, expecting to make nearly $104,000 in their first job.
The average salary for a new college graduate in 2020 was $55,260, according to a 2021 report by the National Association of Colleges and Employers.
More interesting questions on the topic
Furthermore, What is the average income level of a recent college graduate?
In reply to that: New college graduates are overestimating their starting salaries by $30,000, report finds. Overall, job prospects look good for the class of 2023. The average starting salary for recent graduates is now nearly $56,000.
Also asked, Is 50000 a good salary for a college graduate?
The national average salary for college graduates (overall) has remained steady over the last few years at around $50,000 to $60,000. Business, mathematics, health science, engineering, and computer science majors are shown to make a higher average salary at between $52,000 and $71,000 per year.
Beside above, Is 75k out of college good?
Answer will be: While people have different qualifications and different ideas of what constitutes a good salary, most would consider $75,000 per year to be good pay. Luckily, whether a person is just starting out in a new role or already has some experience, there are indeed many opportunities in this pay range.
How much does the average 23 year old make?
Response will be: Median Earnings by Age in the United States
| Age | Weekly Earnings | Average Hourly Wage |
|---|---|---|
| 16 to 19 years old | $611 | $15.28 |
| 20 to 24 years old | $737 | $18.43 |
| 25 to 34 years old | $1,018 | $25.45 |
| 35 to 44 years old | $1,223 | $30.58 |
Keeping this in view, What’s a good starting salary? What is a good starting salary? This depends on the kind of job and the state you’re in. But entry-level salaries in the United States range from $26,000 to $56,000. Also, the Fair Labor Standards Act has set $7.25/hour as the federal minimum wage. A Salary to Make You Live Comfortably
Furthermore, What is the average US salaries of college grads?
As a response to this: College graduates earn an average hourly salary of $21 in the United States. This amount sums up to form an average annual college graduate salary of $50,000 in 2021. College graduates earned an average yearly wage of $53,889 in 2020.
Also Know, What is average GPA for college?
Grade point average, or GPA, is a single number that represents the average of every letter grade you earn in college. GPA is calculated by converting letter grades to a standard grade-point scale, which ranges from 0 to 4.0.
Also asked, What’s a good starting salary?
As a response to this: What is a good starting salary? This depends on the kind of job and the state you’re in. But entry-level salaries in the United States range from $26,000 to $56,000. Also, the Fair Labor Standards Act has set $7.25/hour as the federal minimum wage. A Salary to Make You Live Comfortably
Thereof, What is the average US salaries of college grads?
College graduates earn an average hourly salary of $21 in the United States. This amount sums up to form an average annual college graduate salary of $50,000 in 2021. College graduates earned an average yearly wage of $53,889 in 2020.
Furthermore, What is average GPA for college? Answer to this: Grade point average, or GPA, is a single number that represents the average of every letter grade you earn in college. GPA is calculated by converting letter grades to a standard grade-point scale, which ranges from 0 to 4.0.