Post-Grad Salary: Is Gen Z Expecting Too Much?

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Post-Grad Salary: Is Gen Z Expecting Too Much?

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Today’s job market is booming. Department of Labor data shows job openings are historically high as the nation continues to feel the effects of the Great Resignation.

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Wages, too, are rapidly increasing. Labor statistics show wages have shot up by 4.5% since December 2020, the largest spike in 40 years.

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Starting salaries have grown a healthy 8% over the past five years, outpacing increases in college costs. Average starting salaries are likely to increase further as employers with a multitude of job openings compete for a limited number of candidates.

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Graduates know the job market is hot, but they overestimate how hot it is. According to a report by education analysts at ThinkImpact, the average salary for a college graduate today is $55,260. Meanwhile, undergraduates now expect to earn $103,880 in their first job after college.

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Those unrealistic expectations extend to mid-career earnings, too. Students today think they’ll be making just over $200,000 10 years after graduating — though the average mid-career salary is $132,497, according to Glassdoor.

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A Hot Job Market Has Overheated Expectations

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Part of the explanation could be the ease with which many college graduates are getting jobs. As they enter a job market with many openings, recruiters have been forced to compete for candidates, often sweetening offers with enhanced benefits or salary bumps.

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