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September 27, 2023

Number of the Day: $103,880

This is the salary Gen Z undergrads expect to earn in their first job right out of college, according to a recent survey by Real Estate Witch.

The survey goes on to say:

The average starting salary for recent graduates is $55,260, but students expect to earn almost double that — $103,880 — one year out of college. That’s nearly $46,000 more than they expected to make just three years ago.

Graduates may be in for a rude awakening: More than half (58%) say the average starting salary of $55,260 isn’t as high as they expected, with nearly 1 in 5 (18%) saying it’s much lower than expected.

Unrealistic salary expectations also extend to mid-career earnings. Ten years into their careers, students anticipate making $200,270 — a 93% increase from their starting salary expectations.

Data shows salaries do tend to double by mid-career in many industries, but $200,270 is more than most students can hope to earn in reality: The average mid-career salary is only $132,497.

As a reminder, the average starting salary for accounting undergrads in 2021 was projected to be $58,508.

Related article:

$58,508: The Average Starting Salary for New Accounting Grads

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