Salaries increase for recent college grads
May 11, 2012
Data shows that individuals with a college degree make more money than those without one.
According to the U.S. Bureau of Labor Statistics, in 2011, individuals with a bachelor's degree made an average of $1,053 per week, compared to $768 per week for those with an associate degree, $719 per week for those with some college (but no degree) and $638 per week for those with a high school diploma.
The National Association of Colleges and Employers (NACE) recently reported that the average starting salary for a Class of 2012 graduate is $42,569 - a 4.5 percent increase over the average salary reported for the Class of 2011.
Engineering, computer science and business majors have historically secured the highest paid jobs upon graduating.
The organization's April 2012 Salary Survey sheds some light on what type of salaries liberal arts majors should expect when they get their degree.
"The highest-paid majors in liberal arts at this point are fairly clustered," said Ed Koc, NACE's director of strategic and Foundation research. "All of their median starting salaries are above $30,000, and just $3,500 separates their highest and lowest median salaries."
The Salary Survey revealed that liberal arts and sciences/general studies majors have received a median salary of $38,300. Other top-paying liberal arts majors include history ($37,500), foreign languages and literatures ($37,400), English language and literature ($36,900) and visual and performing arts ($34,800).
No matter what type of major moms decide on, pursuing a college degree increases your earning potential and job marketability. Those looking for help to offset the cost of a college education can apply for various grants for parents, college scholarships and financial aid.
