College graduates are getting better jobs, but not better pay

Aug 7, 2021 Degrees

A new report from the Institute for Women’s Policy Research says that while college graduates are starting to get better jobs and making more money, their pay is stagnant.

The report says that the average salary for graduates of college-educated jobs, including those who majored in computer science and engineering, is now just over $27,000 a year, a decline from $29,000 in 2012.

But that doesn’t include the higher-paying jobs that still need to be filled, such as software developers, accounting, engineering and financial analysts.

The report notes that the median starting salary for a college graduate working in a software-development, accounting or financial analyst job is $55,000.

Among the findings:The report finds that only about 1 in 4 computer engineering graduates make more than $100,000 after earning a bachelor’s degree.

About 1 in 5 computer science graduates make $60,000 or less after earning their bachelor’s.

About half of computer engineering grads make less than $40,000, and just over one-quarter make less.

And only about one-third of computer science grads are employed full time.

About 2.3 million graduates of computer-related and related degrees have not made a job in the past 12 months, according to the report.

The report also says that college graduates have experienced higher wage stagnation.

“While wages have risen for both white and black college graduates, black and Hispanic college graduates face higher wage and salary declines than white college graduates,” the report says.

College graduates are also having to contend with the high cost of education.

The Institute for Working Families says that in 2014, the average cost of college was $28,000 and that students are currently paying an average of $26,000 for tuition.

Even if all college graduates went to college, their total lifetime earnings would be only about $42,000 more than those who did not attend college, according the report’s authors.

But the report finds some positive signs.

About 3 in 4 high school graduates have a high school diploma, according it.

About 10% of high school seniors are working and 30% are on track to graduate in four years.

The median starting wage for those with at least a bachelor of science degree is $56,000 this year, and about 12% of all college grads have a bachelor degree.

The highest-paying occupations for graduates include health care and business services, according, the report states.

Follow education reporter Ben Golliver on Twitter and Facebook.

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