With the rising costs of education, knowing what kind of salary you can expect as a college graduate can help you decide whether or not college is worth the investment for you.
How much does a college graduate earn on average? In this article, we’ll do a deep dive into the top statistics on average college graduate salaries. We’ll touch on how factors like the field of study, industry, and location significantly impact your earning potential as a college graduate. We’ll cover:
- General statistics on average college graduate salaries
- College salaries according to field of study
- Average college graduate salaries between men and women
- Salary for college graduates across ethnicities
- Average college salaries per state
- Top 10 states with the highest median salaries
- Top 10 states with the lowest median salaries
- College salaries by college type
- Future trends on average college graduate salaries
- Frequently asked questions
Let’s dive in!
Top statistics on average college graduate salaries
- Associate’s degree completers earn an average of $45,000 while bachelor’s degree completers earn a median income of $61,600.
- Master’s or higher degree completers earn 21% higher than bachelor’s degree completers with a median income of $74,600.
- When considering all individuals with a bachelor’s degree or higher, the median annual earnings is $91,000.
- STEM fields dominate the top average starting salaries. The field of Electrical and Computer Engineering boasts an average starting salary of $97,940. The average starting salary in the fields of Computer Sciences and Petroleum Engineering is $95,456 and $86,830, respectively.
- Salaries for college graduates are highly dependent on several factors, including location, job responsibilities, skills demand, industry, and previous experience.
- Males with a master’s or higher degree reported a median income of $89,600, 38% higher than the median earnings of their female counterparts at $64,800.
- Individuals with a bachelor’s degree who are Asian or White have higher median earnings compared to their Hispanic, of Two or more races, and Black counterparts.
- The highest median earnings for college graduates are in the District of Columbia and Florida ($76,633), followed by Connecticut ($73, 235) and New Jersey ($70,814).
- Arkansas and West Virginia have the lowest median earnings ($42,721 and $46,075, respectively).
General statistics on average college graduate salaries
1. People with a bachelor’s degree or higher have a median annual earnings of $91,000. (National Center of Education Statistics [NCES]).
2. Bachelor’s degree completers earn a median income of $61,600. (NCES).
3. Bachelor’s degree completers have a 37% higher median income than associate’s degree completers. (NCES).
4. Master’s or higher degree completers earned a median income of $74,600, which is 21% higher than the median earnings of bachelor’s degree completers. (NCES).
5. Those who complete an associate’s degree earn an average of $45,000. (NCES).
6. Associate’s degree completers have a 13% higher median income than high school completers.
7. 79% of people 25- to 34-year-olds with a bachelor’s degree worked full-time, year-round, while only 68% of high school graduates did the same. (NCES).
College salaries by industry
8. Salaries for college graduates are highly dependent on several factors, including location, job responsibilities, skills demand, industry, and previous experience. (Forbes).
9. According to Forbes, on average, salaries increase by approximately 20-30% for each degree level a person obtains starting from no college degree through associate’s, bachelor’s, master’s, and doctoral.
10. STEM fields dominate the top average starting salaries due to the ongoing demand and the scarcity of qualified applicants. (Forbes).
11. Based on data analyzed by Forbes and the National Association of Colleges and Employers NACE, the average salaries by bachelor’s degree are
| Major | Average starting salary |
| Electrical and Computer Engineering | $97,940 |
| Computer sciences | $95,456 |
| Math and sciences | $66,760 |
| Social sciences | $61,173 |
| Engineering | $73,922 |
| Business | $60,695 |
| Agriculture and natural resources | $57,807 |
| Communications | $55,455 |
| Humanities | $50,681 |
| Computer Engineering | $90,255 |
| Petroleum Engineering | $86,830 |
Electrical and Computer Engineering
12. Graduates in Electrical and Computer Engineering have an average starting salary of $97,940. (Forbes).
Computer Science
13. The field of Computer Science has an average starting salary of $95,456. (Forbes).
14. The US Bureau of Labor Statistics (BLS) reports the median annual salary of computer scientists as $131,490.
15. The range of salaries for computer scientists is $74,210 for the lowest 10% to $208,000 for the highest 10%.
Math & Sciences
16. Graduates in Math & Sciences can expect a projected average starting salary of $66,760. (NACE).
17. The median annual wage for mathematicians is $112,110.
18. The median annual wage for statisticians was $98,920. (US Bureau of Labor and Statistics).
Social Sciences
19. Social Sciences professionals are expected to have an average salary of $61,173, though it depends on the specific occupation and level of degree. (NACE).
20. The salary range typically falls between $47,680 and $78,578. (Salary).
Business
21. Business graduates earn an average salary of $60,695. (NACE).
22. For MBA graduates, the average salary can be higher. At Harvard University, the average salary and bonus for 2022 MBA graduates was about $198,000. (US News and World Report).
Agriculture and Natural Resources
23. Agriculture & Natural Resources professionals have an average starting salary of around $57,807.
24. The median annual wage for agricultural and food scientists was $74,940. (US Bureau of Labor and Statistics).
Communications
25. The field of Communications yields an average starting salary of around $55,455. (NACE)
26. The median annual wage for media and communication workers (such as public relations specialists, news analysts, and writers and authors) is $66,240. (US Bureau of Labor and Statistics).
27. Media and communication equipment workers (such as broadcast technicians, film and video editors, and photographers) had a median annual wage of $52,840. (US Bureau of Labor and Statistics).
Humanities
28. Salaries in the Humanities field hover around $50,681. (Forbes).
29. Liberal arts degree holders have a median wage of $64,000. (US Bureau of Labor and Statistics).
Computer Engineering
30. Those in Computer Engineering start their careers with an average salary of $90,255. (Forbes).
31. Computer Hardware Engineers have a median pay of $132,360. (US Bureau of Labor and Statistics).
Petroleum Engineering
32. Petroleum Engineering offers an average starting salary of $86,830. (Forbes).
33. Petroleum engineering graduates from the Class of 2022 had an impressive 14.4% increase in salary over the previous class.
Gender and average college graduate salary
34. Higher levels of educational attainment show a pattern of higher earnings, and this pattern holds for men and women.
Male
35. Male associate’s degree completers have median annual earnings of $49,600.
36. Males with a bachelor’s degree or higher earn $74,800.
37. Male bachelor’s degree holders earn a median income of $70,000.
38. Male college graduates earn about 35.3% more than male college dropouts.
39. Males with a master’s or higher degree reported a median income of $89,600.
40. Males with a master’s degree or higher earn 38% higher than their female counterparts.
Female
41. Females with a bachelor’s degree or higher earn $59,800.
42. Female associate’s degree completers have median annual earnings of $39,500.
43. Female bachelor’s degree holders earn a median income of $56,200.
44. Female college graduates also earn about 33.1% more than female college dropouts.
45. Female completers of master’s degrees or higher earn a median income of $64,800.
Race and average college graduate salary
46. Median earnings vary based on ethnicity.
47. The pattern of higher earnings for higher levels of educational attainment holds for those who are White, Black, Hispanic, and Asian. (NCES).
48. In general, individuals with a bachelor’s degree who are Asian or White have higher median earnings compared to their Hispanic, of Two or more races, and Black counterparts.
White
49. White bachelor’s degree completers receive a median income of $65,000. (NCES).
50. White workers who completed a master’s degree or higher have median earnings of $69,800.
Black
51. Black workers with a bachelor’s degree earn a median income of $50,000. (NCES).
52. Black workers with a master’s or higher degree report median earnings of $61,500.
Hispanic
53. Hispanic workers with a bachelor’s degree have a median income of $52,000. (NCES).
54. Hispanic workers who completed a master’s degree earn a median income of $69,200, respectively.
Asian
55. Asian workers with a bachelor’s degree earn a median income of $69,700.
56. Asians have the highest median earnings for people who have completed a master’s degree, while for other groups it is not measurably different. (NCES).
Two or more races
57. Workers of Two or more races with a bachelor’s degree earn a median income of $51,700.
58. Workers of Two or more races with a master’s or higher degree have median earnings of $74,300. (NCES).
Median salaries for each state
59. According to data reported by Yahoo Finance, the following are the median salaries for college graduates in each state:
| State | Median Earnings |
| Alabama | $47,518 |
| Alaska | $47,697 |
| Arizona | $45,842 |
| Arkansas | $42,721 |
| California | $63,319 |
| Colorado | $52,891 |
| Connecticut | $73,235 |
| D.C. | $76,633 |
| Delaware | $57,722 |
| Florida | $76,633 |
| Georgia | $48,275 |
| Hawaii | $54,060 |
| Idaho | $54,060 |
| Illinois | $52,267 |
| Indiana | $52,267 |
| Iowa | $47,846 |
| Kansas | $44,456 |
| Kentucky | $48,964 |
| Louisiana | $46,768 |
| Maine | $46,768 |
| Maryland | $71,096 |
| Massachusetts | $64,789 |
| Michigan | $48,229 |
| Minnesota | $52,041 |
| Mississippi | $43,235 |
| Missouri | $44,238 |
| Montana | $43,429 |
| Nebraska | $46,768 |
| Nevada | $54,116 |
| New Hampshire | $53,609 |
| New Jersey | $70,814 |
| New Mexico | $47,703 |
| New York | $62,553 |
| North Carolina | $47,588 |
| North Dakota | $50,610 |
| Ohio | $51,751 |
| Oklahoma | $43,444 |
| Oregon | $51,770 |
| Pennsylvania | $53,346 |
| Rhode Island | $61,623 |
| South Carolina | $47,223 |
| South Dakota | $44,258 |
| Tennessee | $47,552 |
| Texas | $53,300 |
| Utah | $54,071 |
| Vermont | $48,596 |
| Virginia | $59,340 |
| Washington | $61,310 |
| West Virginia | $46,075 |
| Wisconsin | $51,438 |
| Wyoming | $50,041 |
Top 10 states with the highest median college graduate salaries
60. The highest median earnings for college graduates are in the District of Columbia and Florida ($76,633), followed by Connecticut ($73, 235) and New Jersey ($70,814).
61. The following are the top 10 states with the highest median earnings for college graduates:
| State | Median Earnings |
| D.C. | $76,633 |
| Florida | $76,633 |
| Connecticut | $73,235 |
| New Jersey | $70,814 |
| Maryland | $71,096 |
| Massachusetts | $64,789 |
| New York | $62,553 |
| Washington | $61,310 |
| Rhode Island | $61,623 |
| California | $63,319 |
Top 10 states with the lowest median college graduate salaries
62. The following are top 10 states with the lowest median earnings for college graduates:
| State | Median Earnings |
| Arkansas | $42,721 |
| Oklahoma | $43,444 |
| Mississippi | $43,235 |
| Montana | $43,429 |
| South Dakota | $44,258 |
| Kansas | $44,456 |
| Kentucky | $48,964 |
| Alabama | $47,518 |
| North Carolina | $47,588 |
| West Virginia | $46,075 |
Average starting salaries per state for college graduates
63. Starting salaries vary according to the highest level of educational attainment.
64. According to data published by Yahoo Finance, the following are the average entry-level salaries for college graduates in every state:
State | Average starting salary / Median Earnings | ||
| Associate’s degree holders | Bachelor’s degree holders | Master’s degree holders | |
| Alabama | $37,181 | $50,526 | $65,945 |
| Alaska | $45,989 | $53,106 | No information available |
| Arizona | $37,368 | $50,982 | $66,068 |
| Arkansas | $34,062 | $47,207 | $63,065 |
| California* | $44,707 | $67,786 | $91,326 |
| Colorado | $41,422 | $57,200 | $71,315 |
| Connecticut | $49,811 | $75,485 | $92,326 |
| D.C. | $43,665 | $78,399 | $78,399 |
| Delaware | $41,427 | $61,112 | $75,326 |
| Florida* | $37,862 | $52,289 | $70,223 |
| Georgia | $36,104 | $52,162 | $66,792 |
| Hawaii | $41,360 | $53,388 | $71,144 |
| Idaho* | $34,900 | $48,300 | $65,068 |
| Illinois | $41,407 | $56,495 | $71,953 |
| Indiana | $39,291 | $51,550 | $64,258 |
| Iowa | $40,080 | $50,661 | $67,159 |
| Kansas | $37,398 | $48,236 | $59,658 |
| Kentucky | $38,845 | $53,162 | $64,819 |
| Louisiana* | $37,332 | $52,942 | $61,413 |
| Maine | $37,688 | $49,989 | $68,202 |
| Maryland | $51,525 | $71,225 | $91,135 |
| Massachusetts | $46,109 | $66,003 | $84,775 |
| Michigan | $37,149 | $52,285 | $67,912 |
| Minnesota | $41,689 | $55,721 | $72,604 |
| Mississippi | $34,252 | $46,688 | $58,129 |
| Missouri | $36,151 | $49,422 | $61,240 |
| Montana | $35,678 | $47,426 | $60,390 |
| Nebraska | $39,026 | $48,374 | $62,362 |
| Nevada | $44,153 | $56,529 | $73,343 |
| New Hampshire | $42,253 | $53,655 | $71,115 |
| New Jersey | $50,254 | $72,260 | $92,032 |
| New Mexico | $36,218 | $50,793 | $73,028 |
| New York | $46,245 | $64,465 | $82,068 |
| North Carolina | $36,107 | $51,234 | $65,945 |
| North Dakota | $45,085 | $52,634 | $63,849 |
| Ohio | $39,729 | $55,748 | $71,252 |
| Oklahoma | $36,144 | $47,149 | $59,383 |
| Oregon* | $39,875 | $56,938 | $72,289 |
| Pennsylvania* | $41,887 | $55,409 | $70,987 |
| Rhode Island* | $45,184 | $65,201 | $75,247 |
| South Carolina | $36,986 | $49,854 | $64,678 |
| South Dakota | $37,826 | $48,307 | $60,084 |
| Tennessee | $37,413 | $51,143 | $63,545 |
| Texas | $41,520 | $58,579 | $73,905 |
| Utah | $41,284 | $53,270 | $76,970 |
| Vermont | $39,453 | $48,965 | $60,426 |
| Virginia | $42,908 | $63,761 | $83,533 |
| Washington | $45,932 | $66,286 | $85,507 |
| West Virginia | $36,596 | $50,892 | $60,545 |
| Wisconsin | $42,392 | $54,264 | $67,504 |
| Wyoming | $41,069 | $52,203 | $69,974 |
*Data presents median starting salaries for each educational atttainment.
Future trends on average college graduate salaries
65. According to the National Association of Colleges and Employers (NACE), slightly more than 43% of employers who participated in its Job Outlook 2024 survey plan to increase starting salaries to Class of 2024 bachelor’s degree graduates.
66. Nearly all remaining employers anticipate keeping salaries at last year’s levels.
67. For the class of 2024 master’s degree graduates, 27.7% of responding employers have plans to increase salaries.
68. 71.8% of employers plan to keep them the same as last year.
Sources
- National Center for Education Statistics. Digest of Education Statistics, 2021 – Introduction
- National Center for Education Statistics. Median annual earnings, number, and percentage of full-time year-round workers age 25 and over, by highest level of educational attainment and sex: Selected years, 1990 through 2020
- National Center for Education Statistics – Condition of Education. COE – Annual Earnings by Educational Attainment
- National Association of Colleges and Employers. Salaries Expected to Be Stable for Class of 2024 Bachelor’s, Master’s Graduates
- Forbes. Top Salaries For College Graduates
- Coursera. Computer Science Salary: Your 2024 Guide | Coursera
- US News and World Report Mathematician Salary | US News Best Jobs
- US News and World Report Find MBAs That Lead to Employment, High Salaries
- Indeed. Average Salary for Math Majors (Plus 11 Job Titles) | Indeed.com
- Salary. https://www.salary.com/research/salary/posting/social-scientist-salary
- US Bureau of Labor and Statistics. Agricultural and Food Scientists : Occupational Outlook Handbook
- US Bureau of Labor and Statistics. Media and Communication Occupations
- Computer Hardware Engineers : Occupational Outlook Handbook
- Yahoo Finance. What’s the Entry-Level Salary in Every State?
Average College Graduate Salaries – FAQs
Average earnings differ based on the highest level of educational attainment. Those who complete an associate’s degree earn an average of $45,000. Bachelor’s degree completers earn a median income of $61,600. Master’s or higher degree completers earn a median income of $74,600.
STEM fields dominate the top average starting salaries. The field of Electrical and Computer Engineering boasts an average starting salary of $97,940. The average starting salary in the fields of Computer Sciences and Petroleum Engineering is $95,456 and $86,830, respectively.
The District of Columbia and Florida have the highest median earnings ($76,633), while Arkansas and West Virginia have the lowest ($42,721 and $46,075, respectively).
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Gail holds a degree in International Development and has a strong background in research and writing. Her work focuses on exploring topics related to development, including education.