Starting Salaries Up for New Grads
May 30, 2012
Landing a job after graduation is tough. On the bright side, 2012 college grads with a bachelor’s degree may find themselves with starting salaries higher than their 2011 peers. On average, starting salaries are up 6.6%, to $44,442, according to a recent study by the National Association of Colleges and Employers (NACE).
Students graduating in the fields of business administration, economics, communication, computer sciences, engineering, and math and science are well positioned to earn even more, depending on the industry in which they work. Business majors in finance and insurance may expect an average starting salary of $63,900; those with computer science majors in the information sector show an average of $64,400 to start.
The top five industries that pay the highest average starting salary, regardless of major include the following:
- Utilities -- $64,400
- Information -- $54,392
- Manufacturing -- $53,006
- Management of Companies & Enterprises-- $51,871
- Finance & Insurance -- $51,110
Despite a reported need and the highest average starting salary increase over the last year at 4.5%, entrants in education will earn around $37,423. Within this group, special education majors showed the highest starting average at $42,200.
NACE also reported that 25% of the students that had applied for jobs secured a gig before graduation. Among those who applied for jobs, 44% received at least one job offer, slightly up from 41% in 2011. However, of the seniors surveyed in 2012, slightly more than half reported applying for jobs, down 25% from the previous graduating class.