While previous research has found that more than a third of college graduates expect to have a salary of $60,000 in their first job, new data shows what this year’s grads are likely to pull in.
A new analysis by global organizational consulting firm Korn Ferry shows that members of the Class of 2018 will rack up $50,390 a year on average — up from $49,000 last year. The company “analyzed salaries of 310,000 entry-level positions from nearly 1,000 organizations across the United States” to come up with the data points.
What different entry-level jobs pay
Korn Ferry’s analysis took a look at the entry-level jobs and what they pay on average — here are the top five with the highest salaries:
- Software Developer: $67,236
- Engineer: $64,066
- Scientist/Researcher: $60,177
- Registered Nurse: $54,454
- Insurance Underwriter: $51,578
San Francisco has the highest salary for college grads
The research showed what college graduates could make on average in 10 major cities. Korn Ferry Senior Client Partner Maryam Morse commented on the findings:
“Of course the cost of living in some cities, like San Francisco and New York, is much higher than other parts of the nation, so it stands to reason that salaries would be higher, but regardless of location, it’s imperative that organizations start the recruiting process early to ensure they win top talent,” Morse said.
Here are the cities, arranged from the highest salary to the least.
- San Francisco: $63,995
- New York: $60,972
- Boston: $59,460
- Los Angeles: $56,386
- Chicago: $55,177
- Philadelphia: $54,169
- Minneapolis: $53,766
- Denver: $53,010
- Dallas: $50,743
- Atlanta: $49,584