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Dollars & Sense

College grads see higher starting salaries this year

The salaries of new college graduates jumped across the board this year, according to a new survey.

Go figure.

For those who are curious below are the highest average starting salaries for the current crop of newly-minted grads:

$59,361 -- chemical engineering majors
$56,201 -- computer engineering
$55,292 -- electrical engineering
$54,128 -- mechanical engineering
$53,396 -- computer science
$50,852 -- information science
$48,509 -- civil engineering
$48,483 -- economics
$47,648 -- MIS
$47,239 -- finance
$46,718 -- accounting
$43,701 -- management
$40,161 -- marketing

Then of course there are the liberal arts degrees:

$34,590 -- political science
$33,768 -- history
$32,553 -- English
$32,033 -- sociology

As for young, would-be journalists, well, Starbucks is hiring.

Mmmm, Starbucks.


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Comments (26)

Yeah, like, you know, right... (Below threshold)

Yeah, like, you know, right dood. Where you going to get those kind of jobs in Hooverville?

As I posted before. Change ... (Below threshold)
scrapiron Author Profile Page:

As I posted before. Change you major or make sure your children get in the mental health field. BDS will provide you with a Million dollars + per year for the forseeable future. It'll take 25-30 years for all of the BDS sufferers to comitt suicide and you can retire to an island of your own long before that.

Mmmm, Starbucks.... (Below threshold)
Peter F.:

Mmmm, Starbucks.

My wife just had an informal interview with a friend of hers who works there, and the friend told her that she "never, ever" come to work there. LOL.

The bennies are horrible and they work like slaves, apparently.

Higher salaries? I thought ... (Below threshold)

Higher salaries? I thought this was the worst economy...EVER..??

Not so sure about the salar... (Below threshold)
RicardoVerde:

Not so sure about the salary for econ majors. I suppose the only grads who actually get jobs "in economics" are Ivy League types so that would tend to boost the average. Most of my friends with similar majors got jobs in banks or insurance companies. Good salaries down the road, but not for new hires.

Now it's obvious why the li... (Below threshold)
Bill Jones:

Now it's obvious why the libs are so enamored of transfer of payments. They are the most worthless in a competitive economy.

Bill Jones, more truth than... (Below threshold)

Bill Jones, more truth than fiction, as the partisan distribution changes roughly in line with the list.

Unfortunately the employees... (Below threshold)
ODA315:

Unfortunately the employees holding those liberal arts jobs are teaching our children.

I see that Liberal Arts maj... (Below threshold)
Skip:

I see that Liberal Arts majors are still grossly overpaid.

dang... looks like my histo... (Below threshold)

dang... looks like my history and almost poli sci degree(s) (ran out of money 2 classes short of a poli sci major) won't be doing me a whole lot of good. but since i work at a bank at the moment, i guess that's not such a huge deal.

Wait. I thought Bush had c... (Below threshold)
Linoge Author Profile Page:

Wait. I thought Bush had completely destroyed the American economy... everyone is supposed to be going all belly-up and bloatified from having massive paycuts, and all of their investments croaking, and, and, and.

Oh, right, I just got a raise, and my investments are averaging 25% across the board. Musta been channelling a liberal there, for a second.

As a grade school Teacher i... (Below threshold)
nogo war:

As a grade school Teacher in the inner city, I always tell the kids...if you want a career that pays well? MATH.....MATH....MATH!

oh how times have changes s... (Below threshold)
Ken:

oh how times have changes since graduating in '91.

Electrician, Plumber and Ca... (Below threshold)
WildWillie:

Electrician, Plumber and Carpenter minimum of $75,000.00. I am talking about the real deal. Licensed, etc. ww

Good point about the trades... (Below threshold)
philw:

Good point about the trades. After 1st going in the hole the better part of $100,000 in college tuition, room, board and expenses AND losing 4 years of wages, the average college grad lags behind tradespeople. Were young people in the trades astute enough to start IRAs right away, their time value of money advantage over college grads paying off loans becomes substantial, enabling a well funded early retirement.

Me, I went to engineering school & later got an MBA.

In most parts of the countr... (Below threshold)
civil behavior:

In most parts of the country where the jobs for engineers are plentiful making 50K a year lets you live one teeny step above living in your car.

Of course for all you 30% redneckers out there thats posh living.

You still don't get it do you. You live in some rural backwater where the biggest cost for you is how much Charlie's bar is charging for a beer and a shot.

Living in any areas where engineers are in demand means trying to buy a home priced well into the 400-500K range while paying off huge college loans and living off credit cards.

50K is peanuts. 30K is poverty.

But you keep on keeeping on giving those tax breaks to the ultra elite so they can wallow in their luxurious Mcmansions. If you only knew how little these plutocrats care about your petty needs like rent, food and electric.

Oh I forgot, Bush cares. Heck, he wants to get every amputee from Iraq a new set of legs. How generous huh?

Civil,You know why... (Below threshold)
civil:

Civil,

You know why people making 50K are peanuts. 'Cause of nutjob asskakes like you who think taxing a third of that is not enough.

Hm. Industrial and Systems... (Below threshold)

Hm. Industrial and Systems Engineer, here. Graduated from good old Georgia Tech three years ago this December (I are slow... 4.5-year program ;) ). Yet despite barely graduating and taking my sweet time about it, I am taking in over $60k a year (before the government steals its cut) and living quite comfortably in Southern Kalifornistan - one of the most expensive places I have ever seen to live.

I have a 900sqft apartment, a new (well, 2006) car, and still have enough money to support a five-mutual-fund IRA, two other investment accounts, and a massive savings account. Oh, and a wife, on the side.

Oh, and I worked my way through college.

Sure, I am anecdotal evidence, but I somehow doubt I am alone (and, in fact, when talking with my fellow graduates from GT, I know I am not, with one living in SanFran, one living in Houston, quite a few still in Atlanta, and one in DC - maybe not the most expensive places, but far from cheap).

However, Civil, you pointed out two perfect reasons why people often screw themselves over with their finances - purchasing homes (or cars) they cannot afford (hell, any home, straight out of college, probably falls under that category - apartments suck, and they are wasted money, but they get you started), and "living off credit cards", while only making minimum payments.

Yeah, sometimes it is rough. Sometimes you just have to cinch up that belt, and not buy that thousand-dollar, flat-screen, HD, makes-your-coffee-while-you-watch-porn TV. But I could easily live off $10k less here in SoKal, and if I can do it (happy-assed spender as I am), just about anyone can.

What's wrong with yo... (Below threshold)
civil behavior:


What's wrong with you Linoge. Aren't your tax cuts giving you a chance at the good old American dream of ownng your own home? 900 sq ft. is that teeny step bigger than your car. I think civil was trying to make us all feel better by complaining that taxes aren't low enough but when you are rolling in the big bucks at 50K and living the high life in South CA it's obviously making a huge difference.

Civil, It's the big boys who reap the benefits of the tax cuts, not peanut farmers like yourself. But of course you'll argue all day long from under your rock that everyone gets to eat peanuts while the rich stuff themselves with cordon bleu. They LOVE the fact that you support their million dollar lifestyle. What better strategy for their increased riches than to have their serfs pleading their case. It's a public marketing coup!

But back to Linoge, when you have all your money in a market flush with dollars that are fiat that should cover you when paper becomes the food source of choice. Who needs cordon blue or peanuts when paper is available?


Not that there isn't some wisdom in having paper. At the rate that the Fed Reserve has been running the presses there will be an adequate abundance of it when the sh** hits the fan. At which point your paper might well come in handy. It might be useful when toilet paper becomes that newly minted expensive commodity.


P.S. Why not move to Texas? I hear the land is cheap and the people are real conservative. Not much science there though You might be an outcast for professing that science could actually be telling the world the truth. You might even be labeled a liberal having gone and gotten an education at one of those commie instiutions of higher learning.

Typical. When presented wi... (Below threshold)

Typical. When presented with information that blows his standpoint right out of the water, "civil" (harhar) behavior turns to ad hominem attacks against anyone and anything he can get his grubby little hands on. Move along, people. Nothing to see here.

What, did your mother forget to bring down the case of YooHoos to her basement... er... sorry, your "Fortress of Solitude"? Hey, look, I can do it too!

As usual, wingnuts enter th... (Below threshold)

As usual, wingnuts enter the fray.

I graduated from the California Maritime Academy with a degree in Mechanical Engineering, yet I also obtained a 3rd assistant engineer's Coast Guard License to sail on Steam, Motor, or Gas Turbine Vessels of any horsepower. I am currently grossing 6 figures with that license. I paid off my student loans with a 6 month tour on one ship. I've been sailing for about 2 years, and still crashing @ my parents' place when I get off a ship (well they're my permanent address, I run around to buddies' places too).

The horrible financial situation that kids right out of college get into are usually their own making. They get some cash in their pocket, and they go and blow it on parties, cars, houses, fancy toys, without thinking about the future. I just recently had a conversation with a banker ('cause in about a year or so I'm going to enter the real estate market, possibly commercial properties), and he was mentioning that I'm doing great normally, but I'm especially doing great considering that the rest of the people in my generation are usually spend-hogs because of the culture of today. You know, liberal soft parents who keep giving their kids breaks "its ok to run out of money, your parents/the government will bail you out".

I'm 25 and earning 6 figures.

By the way, I also have ful... (Below threshold)

By the way, I also have full benefits and a retirement plan. I even set up my own IRA accounts, a ROTH IRA (in case I gross less than 100k) and a standard IRA.

No wonder Robin hood is so popular. Damn socialists keep withholding from my paycheck and giving it to liberal arts majors who work as secretaries or fast food workers.

(or welfare individuals, many of whom GAME the system...)

WAY back when I made $48K b... (Below threshold)
philw:

WAY back when I made $48K before the Reagan tax cuts I was paying almost 50% in taxes. Thank Reagan for the tax rate cuts. There were no IRAs or 401Ks to save before tax money either. It was brutal saving for retirement with that tax rate.

Moderate middle class families face a similar inflation threat today from the AMT, originally passed to nail that evil 'upper 1%'.

Hey, (un)Civil,You... (Below threshold)
iurockhead:

Hey, (un)Civil,

You obviously haven't spent any time in Texas. But them I imagine the bulk of your opinions on things outside of your "fortress of solitude" (I wish I'd come up with that, nice shootin' Linoge) are based on stereotypes from movies and TV. There are tons of great technical jobs in Texas. Petroleum geologists and engineers are in very high demand with entry level salaries at about $80K (see: http://www.aapg.org/explorer/salarysurvey.cfm). Chemical engineering, aerospace, computer tech, you name it, it's here. And with the exception of Austin, cost of living and real estate prices are very reasonable. Mostly very nice people here, too. Don't be messing with Texas, greenhorn.

there are tons of ... (Below threshold)
there are tons of great technical jobs in Texas. Petroleum geologists and engineers are in very high demand with entry level salaries at about $80K

You mean the kind of jobs that liberals are complaining that we don't have enough of these days? You mean the kind of jobs that would flourish if the liberals and enviro-whacko's suppress because they won't allow exploration in ANWR, drilling on the OCS? The kind of jobs that the oil industry would provide if it wasn't such a herculean effort to build a new refinery, or a nuke powerplant, or a gas or oil pipeline?

Sheesh, you'd think liberals and whacko's would be ALL in for those kind of good, high paying industrial jobs. But then you'd be wrong if you thought that.

Civil behavior, you are a f... (Below threshold)

Civil behavior, you are a foul, disgusting and extremely rude person. You're argument here is just another of your usual tirades based on nothing more substantial than your abrasive and offensive judgments of people you don't even know.

Actually reading something before you go on your redneck bashing and Bush carping might be in order.

It says highest "average" starting salaries, which might have escaped you. It's understandable that you might have missed that, since it really must be hard for you to see through all that red hate emanating from your psyche.

Average means some are higher and some are lower. And that's usually because the markets are different in each city. That could mean that *gasp* someone who really wants to move out of their car in San Francisco can actually get an apartment or home. And since thats just a starting salary, if they gain experience and prove their worth then *gasp* they might earn more.

A 900 square foot apartment is not "one teeny step above living in your car" and no amount of your exaggerations and name-calling will make it so.




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