According to a report from the National Association of Colleges and Employers, the average starting salary of class of 2012 graduates is $44,442, which is a 6.6% increase over the reported average salary of the class of 2011. In looking at the overall median salary, salaries are up 4.5%.The biggest percentage change in terms of discipline is in education, where the 2012 median salary $37,423 compared to last year’s $35,828, good for a 4.5% increase. The biggest loser in percentage change is in health sciences, which is down to $43,477 compared to $43,802 last year.
In addition to higher wages in most fields, job openings are up 10% compared to available jobs for the class of 2011. In looking all the way back to the class of 2010, job openings have risen from 5,174 to 15,767 this year.
In business fields, economics graduates have received the highest starting salaries.
Among the business disciplines, economics graduates earn the highest starting salaries. Their median starting salary currently stands at $54,800, up 5.6 per cent over last year’s median of $51,900. They found the largest number of opportunities with finance and insurance employers; their highest starting salary—$57,000—also came from these employers. Moreover, economics grads who landed jobs as financial managers in the finance/insurance industry saw their average salary top out at $64,000.
This is certainly good news for those anticipating a May graduation, and should help relive some of the stress that comes during the final days of an undergraduate education.
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