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What value can a master’s degree have over a bachelor’s degree? For certain majors, the differential in starting salaries is substantial.
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The final overall average starting salary for the college Class of 2020 landed at $55,260—2.5% above the final average starting salary for the Class of 2019.
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There is a trend toward an erosion in salary differentials among the degree levels, according to results of NACE’s Class of 2019 First-Destination Survey.
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Nearly 60% of Class of 2019 bachelor’s grads were employed in full-time positions with a traditional employer and nearly 19% were going on for an advanced degree by the end of 2019.
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The report for the College Class of 2019 provides information about where graduates at the undergraduate and graduate levels land within six months of graduation.
Starting salaries are expected to increase among many master’s degree majors this year.
The average starting salary projections for all reported categories of majors for Class of 2021 bachelor’s degree graduates show increases, albeit some of them are on the smaller side.
Transportation and materials moving majors earned the highest average starting salary by far among Class of 2019 associate degree graduates.
Computer sciences majors have the highest starting salary at the master’s-degree level for the Class of 2019, while business grads are the top-paid at the doctoral level.
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.