Earning power: Impact of having a Master’s degree on your starting salary
What impact does earning an advanced degree have on a college graduate’s starting salary?Earning a master’s degree can make a significant difference, according to a new report from the National Association of Colleges and Employers (NACE).
NACE’s Winter 2020 Salary Survey found that a Class of 2020 graduate earning a bachelor’s degree in business administration is projected to earn a starting salary of $58,166. However, the projected starting salary jumps nearly $21,000 for a graduate with an M.B.A. (See Figure 1.)
The differential between average starting salaries for Class of 2020 computer science majors is also significant. A graduate with a bachelor’s degree in computer science is projected to earn a starting salary of $68,668, while a computer science major earning a master’s degree this year is expected to earn $80,142, a differential of more than $11,000.
(Figure 1: Salary Differential Between Bachelor’s and Master’s Degrees)
| Major | Average Starting Salary by Degree Level | Differential | |
| Bachelor’s Degree | Master’s Degree | ||
| Business administration | $58,166 | $79,043 | $20,877 |
| Computer science | $68,668 | $80,142 | $11,474 |
The Winter 2020 Salary Survey report contains annual salary projections for Class of 2020 college graduates. The figures reported are for base salaries only and do not include bonuses, commissions, fringe benefits, or overtime rates. Data contained in the report were obtained by surveying NACE employer members from September 16, 2019, through December 2, 2019. An executive summary of the Winter 2020 Salary Survey is available at www.naceweb.org/research/reports/.
(Source: Winter 2020 Salary Survey, National Association of Colleges and Employers)
Posted by: Richard Webster, Ace News Today / Follow Richard on Facebook and Twitter
