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NextGen Magazine

 
 

Average Salaries for New Grads Virtually Unchanged Since Last Year

By:
Chris Gaetano
Published Date:
May 15, 2018
Throwing Graduation Hats

The average salary for new graduates will be almost the same as it was last year, $50,390, though finding a job should be a little easier as the unemployment rate drops, according to a recent survey. The poll, conducted by talent management firm Korn Ferry, analyzed salaries of 310,000 entry-level positions from nearly 1,000 organizations across the United States. While the current $50,390 average is higher than the $49,000 average from last year, the report noted that inflation is around 2 percent, meaning that there's been very little change in actual real income.

Given that college debt has consistently outpaced inflation, this might translate into new graduates actually having less income than before. The average graduate in 2018 will carry $39,400 in debt, a 6 percent increase over last year. 

The report accounted for the different costs of living in various areas by breaking the averages down by city. For those in New York, the average salary for new grads will be $60,972. 

The average salary for a new accountant was listed as $48,000 this year, though, again, the report noted that this is just an average, and asked that readers keep in mind that there can be great variation at individual firms. 

"Graduates should keep in mind that averages can mask variations. For example, within STEM-related careers there are some specialized areas that pay significantly more than average," said Korn Ferry Senior Client Partner Maryam Morse. "Job seekers must still do their homework to understand fair pay for their location and area of expertise."