College grads’ salaries rise, even in the face of a global pandemic
Yesterday, the National Association of Colleges and Employers (NACE) released the results of a recent report that showed, despite all of the problems and challenges associated with the COVID-19 pandemic, the starting salaries for recent college graduates continued to rise.
“Overall, the average starting salary for the college Class of 2020 was $55,260, according to a new report …” ~ NACE
NACE’s Summer 2021 Salary Survey shows that the new average is 2.5% above the average starting salary of $53,889 for the Class of 2019 and a gain of 8.5% from the Class of 2018’s final average starting salary of $50,944.
Not surprisingly, technical majors were the highest paid among Class of 2020 graduates earning bachelor’s degrees. In fact, the list of the 10 majors with the highest average starting salary is dominated by those in technical areas, led by petroleum engineering, computer programming, and computer engineering. (See Figure 1.)
“In some cases, salary increases most likely reflect these unique times,” says Shawn VanDerziel, NACE executive director.
“For example, the increased demand for nurses as frontline workers during the COVID-19 pandemic may have fueled the 2.1% increase in the average starting salary for registered nursing majors, from $57,416 for these graduates from the Class of 2019 to $58,626 for Class of 2020 registered nursing graduates.”
Figure 1: Top-Paid Majors Among Class of 2020 Graduates Earning Bachelor’s Degrees
| MAJOR | AVERAGE STARTING SALARY |
| Petroleum engineering | $87,989 |
| Computer programming | $86,098 |
| Computer engineering | $85,996 |
| Computer science | $85,766 |
| Electrical, electronics, and communications engineering | $80,819 |
| Operations research | $80,166 |
| Computer and information science | $78,603 |
| Statistics | $75,916 |
| Applied mathematics | $73,558 |
| Chemical engineering | $72,713 |
The Summer 2021 Salary Survey report provides actual starting salaries and serves as the final salary report for the college Class of 2020. The figures reported are for base salaries only and do not include bonuses, commissions, fringe benefits, or overtime rates. Data were gathered from Class of 2020 graduates through December 31, 2020, and reported to NACE through May 15, 2021.
An executive summary of NACE’s Summer 2021 Salary Survey report is available on NACEWeb.
(Source: NACE)
Posted by Richard Webster, Ace News Today / Follow Richard on Facebook and Twitter
