November 16, 2016 | By NACE Staff
TAGS: salaries, spotlight
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Bachelor’s-degree graduates from the Class of 2016 have seen starting salaries that average $52,569, which is 3.8 percent more than the overall average salary reported for the Class of 2015 at this time last year, according to results of NACE’s Fall 2016 Salary Survey.
The primary drivers for the overall salary increase for Class of 2016 bachelor’s-degree graduates at this early juncture are the average starting salaries of several majors—computer sciences, engineering, and mathematics and statistics.
Computer sciences majors—the highest-paid in this report—helped to carry the class’s overall salary upward. These majors notched an overall average starting salary of $71,534, which is almost 9 percent higher than their Class of 2015 counterparts saw at this time last year. (See Figure 1.)
Also pulling up the average for the Class of 2016 are the average starting salaries for engineering ($66,121), and mathematics and statistics ($62,985) graduates, both of which topped $60,000 and were significant increases from the average salaries report for these graduates Class of 2015 graduates
It is important to understand that these preliminary salaries are early indicators, and are based on the early results of NACE’s Class of 2016 First-Destination Survey.
The data contained in NACE's Fall 2016 Salary Survey report were collected from July 25, 2016, through September 12, 2016, and were provided by 38 colleges and universities nationwide that are participants of NACE’s national First-Destination Survey. The data represent actual starting salary data for Class of 2016 graduates (those who graduated July 1, 2015, through June 30, 2016). Final starting salary data for the Class of 2016 will be available in the Spring 2017 Salary Survey. Salary projections for the Class of 2017 will be available in the Winter 2017 Salary Survey. An executive summary of the Fall 2016 Salary Survey report is available at www.naceweb.org/salary-resources/salary-survey.aspx.
Figure 1: Top-Paid Majors for Class of 2016 Bachelor’s Degree Graduates
Overall unemployment rate
Bureau of Labor Statistics
Unemployment rate, bachelor’s degree grads age 20 – 24
Bureau of Labor Statistics
Average starting salary, Class of 2017 bachelor’s degree graduate
Fall 2017 Salary Survey
Decrease in hiring projected for Class of 2018 over Class of 2017
Job Outlook 2018
Percent of Class of 2016 bachelor’s degree grads employed or pursuing more education
First Destinations for the College Class of 2016