Starting salaries are lower
March 30, 2012
New research from the Economic Policy Institute (EPI) reveals that recent college graduates may make a bit less than those who graduated a few years ago.
According to EPI data, men accepting entry-level positions after college made an hourly salary of $21.68 in 2011, a decrease of more than 5 percent since 2007. Female grads made even less - the average starting salary for women entering the workforce after college in 2011 was $18.80 per hour. That's more than 4 percent lower than in 2007.
"Young workers' prospects are a barometer of the strength of the labor market and their misfortune reflects the very disappointing wage growth for all workers, college and high school graduates alike, in the last decade," said EPI president Lawrence Mishel.
While the amount many college grads are being paid is lower, experts insist a college education is still worth it.
Recent research from the Pew Research Center reveals that over a lifetime, college graduates are expected to make about $650,000 more than those without a college degree.
In addition, the U.S. Census Bureau reports that individuals whose highest level of education is high school made an average of $31,000 per year in 2010. For those whose highest degree is a bachelor's degree, the average was $58,000.
Mothers who want to boost their earning potential and achieve their dream of getting a college degree should know that they can use grants for parents, college scholarships and other financial aid to help offset the cost of getting an education.
