Just graduated with a science or tech degree? You're in luck: New job seekers can make the most money working in entry-level engineering and software development jobs, according to a new study from the Hay Group, a division of the organizational advisory firm Korn Ferry.
Both jobs have average starting salaries of more than $62,000, and the pay could be even higher for those jobs depending on where they're located. For example, the average starting salary of an engineering job in San Francisco is $77,096 and $74,609 in New York City. Software development starting pay is also more than $74,000 in both of those cities.
For the study, researchers analyzed salaries of 145,000 entry-level positions from more than 700 organizations across the United States. Based on this data, the firm issued a sampling of 25 jobs, across various industries, as a way to provide a snapshot of what new grads can expect as they enter the workforce full time for the first time.
Overall, the average starting salary of the 25 jobs listed is $48,270, up 2 percent from a year ago. [See Related Story: Grads' First Job: 4 Questions Before You Say Yes]
"The market for hiring college grads is extremely competitive this year, so employers need real, authentic ways to differentiate themselves and stand out as an employer of choice," Vivienne Dykstra, global graduate practice leader for Korn Ferry Futurestep, said in a statement. "Strong starting salaries are a critical part of successful recruiting, along with a commitment to helping new recruits develop as their careers progress."
The average starting salaries for the 25 jobs highlighted in the study are:
- Engineer: $62,174
- Software developer: $62,093
- Actuary: $57,600
- Scientist/researcher: $56,872
- Environmental professional: $56,236
- Insurance underwriter: $55,152
- Registered nurse: $55,099
- System's administrator: $52,200
- Paralegal: $51,511
- Wireless consultant: $50,116
- E-commerce analyst: $50,000
- Human resources administrator: $48,578
- Merchandise planning associate: $46,873
- Product development specialist: $46,575
- Event coordinator: $46,212
- Public relations assistant: $45,619
- Pharmacy benefits program coordinator: $45,506
- Buyer: $44,477
- Graphic designer: $43,855
- Accountant: $43,294
- Health education instructor: $42,994
- Call center specialist: $39,998
- Claims examiner: $35,987
- Category assistant: $35,782
- Customer service representative: $31,958
When broken down by location, all of the average salaries were higher in San Francisco, New York City, Los Angeles and Chicago.
Visit this Business News Daily article for more advice on finding a job as a new grad.