Those who graduate from college have high expectations when it comes to entering their first jobs when their studying comes to an end, and believe they will earn $103,880.
According to a survey from Real Estate Witch, as per Business Insider, college graduates with bachelor’s degrees expect their wages to be quite something, especially considering it would be their first job.
And, you’d like to hope so after studying long and hard.
But, that simply is not the reality.
The average graduate really does have to start from the bottom.
A person with a bachelor’s degree from the class of 2020’s average starting salary was $55,260, over $40,000 less than graduates hope to earn after finishing their degrees.
“The strength of the economy has likely inspired unrealistic salary expectations that will leave students disappointed,” Real Estate Witch said of their expectations, as per the news outlet.
But, having to deal with the reality of the salary a college graduate will earn in their first job is not the only thing they have to get their heads around.
According to Insider, almost seventeen percent of people over the age of twenty-five owe student loans, and it has not been made easy to pay the loans back as a result of inflation.
In 2021, a report put together by the Education Data Initiative detailed that the average student can take up to twenty-one years to pay back their loans.
So, when students find out that their salary expectations won’t necessarily be met in their first job, it can be quite daunting when they’ve got their student debt to pay back, too.
Although the comparison may come as a bit of a surprise, the National Association of Colleges and Employers have said that employers plan to hire thirty-one percent more 2022 graduates than they did in 2021.
What do you think?