ST. LOUIS–With graduation season here, college students remain hugely optimistic about both their job prospects and their annual and career earnings, a new survey has found.
For example, Real Estate Witch is reporting the data show the average mid-career salary 10 years after graduation is $98,647, but students expect to make $204,560 — even more than last year's $200,265.
Meanwhile, seven in 10 say they deserve more money because they work harder than their peers.
Among the findings:
- The average starting salary for recent graduates is $55,911, but students expect to make $84,855 one year after graduation — down from $103,880 in 2022 because of widespread fears about the economy.
- More than one-in-three students (36%) say the average starting salary is lower than expected, and when faced with reality, one-third (34%) don’t think they’ll be able to afford basic expenses after graduation.
- 97% of students would consider lowering their salary expectations, but they wouldn’t work for less than $72,580 on average at their first job.
- 70% of students say they deserve more than the average starting salary because they work harder than their peers, and 64% say they deserve more because they are smarter than their peers.
- When searching for a job, Real Estate Witch found students’ No. 1 priority is finding a job within their major, followed by an enjoyable work environment, good benefits, and a competitive salary.
- Most students (92%) who are graduating in 2023 haven’t yet accepted a job offer, but of those who have, more than one-in-four (27%) aren’t satisfied with their starting salary.
- Nearly three in four students (72%) think majoring in a high-demand field will guarantee them a job immediately after graduation.
- 61% of students don’t think they need to build their resume because their degree alone will be enough to impress employers.
- Another 61% of students think they won’t have to work entry-level jobs because employers will see their potential and offer them senior-level positions right away.
- Nearly two-in-three students (62%) think their social life in college is more important than their academic life.
- Two-thirds of students (67%) think college tuition is too expensive, and 89% will graduate with some student loan debt.
- 80% of undergrads felt obligated to attend college, but 40% regret it.
The full report can be found here.