College grads: Class of 2019 saw sharp increase in starting salaries
Bachelor’s degree graduates from the college Class of 2019 saw their average starting salary jump nearly 6%, according to a new report from the National Association of Colleges and Employers (NACE).
NACE’s Summer 2020 Salary Survey report shows that the final overall average starting salary for the Class of 2019 is $53,889, up 5.8% over the final average starting salary of $50,944 for the Class of 2018. In fact, average starting salaries rose across disciplines. (See Figure 1.)
Some highlights from the report include:
- With an overall average starting salary of $76,986, computer and information sciences majors were the highest paid from the Class of 2019. Their average salary is 7.8% higher than the average paid to these graduates from the Class of 2018.
- The overall average starting salary for Class of 2019 engineering graduates also exceeded $70,000. Their average of $70,219 is up 5.4% from the average for Class of 2018 engineering graduates.
- No discipline in the Class of 2019 saw as large an increase as mathematics and statistics majors. The overall average starting salary of $66,942 for Class of 2019 mathematics and statistics majors jumped 8.5% from that paid to these majors from the Class of 2018.
Data for this report represent salaries paid to college graduates from the Class of 2019 – a class not affected by the COVID-19 pandemic. It remains to be seen how the Class of 2020 was affected and how the ongoing pandemic is affecting the employment of the Class of 2021. However, data from the U.S. Department of Labor indicate that the unemployment rate for young bachelor’s degree graduates (ages 20 to 24) is up over last year at this time – 13% in August 2020 versus 7.2% in August 2019.
Data for the college Class of 2020 – including starting salaries and employment outcomes – are currently being collected through NACE’s annual first-destination survey; preliminary results are expected in spring. NACE is also collecting data on hiring projections for the Class of 2021; those results will be released in October.
Figure 1: Starting Salaries by Discipline for Class of 2019 and Class of 2018 Bachelor’s Degree Graduates
| Broad Category | Average Salary for Class of 2019 Graduates | Average Salary for Class of 2018 Graduates | Percent Change |
| Computer science | $76,986 | $71,411 | 7.8% |
| Engineering | $70,219 | $66,638 | 5.4% |
| Math and statistics | $66,942 | $61,709 | 8.5% |
| Health sciences | $53,425 | $52,076 | 2.6% |
| Business | $54,399 | $52,040 | 4.5% |
| Social sciences | $50,099 | $46,797 | 7.1% |
(Source: NACE)
~ Posted by Richard Webster, Ace News Today / Connect with Richard on Facebook and Twitter
