The college class of 2018 should find plenty of job opportunities as they head out into the workforce, with starting salaries remaining much the same as those offered to the class of 2017.
A new survey by the consulting firm Korn Ferry found that graduates who earned a bachelor’s degree can expect to earn an average of $50,390 annually in their first jobs, similar to the wage earned by last year’s graduates.
“With the 2018 U.S. inflation rate hovering at just over 2 percent, real wages for this year’s grads are virtually flat,” said Maryam Morse, Korn Ferry senior client partner.
With the unemployment rate falling below four percent for the first time since 2000, the class of 2018 should have an easier time finding a job than did their peers who graduated in the last several years, WMAL reported.
Pay for graduates will vary according to industry, with those employed in science, technology, engineering and math-related fields earning significantly more than average. Entry-level software developers, for example, can expect to earn an average of $67,236 annually, while customer service representatives start at $35,360.
The Korn Ferry survey analyzed salaries associated with 310,000 entry-level positions from approximately 1,000 organizations across the country.
Another key variable affecting earnings is location of the job. Following are the average starting salaries for 2018 college graduates in 10 major U.S. cities.
- 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
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