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.
Early data from a forthcoming NACE study indicate that the gender pay gap has widened over the past year, with female graduates now earning just 72 cents to every dollar earned by male graduates, down from around 81 cents.
Signed into law in 1963, the Equal Pay Act prohibits pay discrimination based on sex. However, 60 years since the passage of the law, women continue to experience a pay gap, relative to men.
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.
The average hourly wage for 2020-21 bachelor’s level interns and co-ops was identical at $20.82, according to results of NACE’s 2022 Internship & Co-op Survey Report.
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.)
"When setting intern salaries, factors such as students’ major, functional area, degree, and year of study are important considerations.
In terms of a college graduate’s starting salary, earning a master’s degree can make a substantial difference.
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?
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.
There is very little differentiation in the average salaries for each of the career services positions until one gets to the management level.
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.
The DOL has released new guidelines around unpaid internships, replacing the six-part test with the primary beneficiary test.
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.