How much should a recent college graduate expect to earn?

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steve_k

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How much should a recent college graduate expect to earn in a large metropolitan city considering the current 9.7% unemployment rate?

Some underlying information:

College: traditional brick-and-mortar, accredited state university
Major: Business Administration
Degree type: Bachelors or higher
Grade Point Average: Over 3.50 (with honors)
Professional Experience: Less than three years
job desired: salaried position at 40-50 hours per week, non-commission based

Quite a few college graduates cannot find work and are now working for next to minimum wage. Is this to be expected? If not, what should be the expected starting salary for a recent college graduate from a modestly priced state university?
 
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Yeah, it's to be expected. Depends on your work history and past salaries. Straight out of college? Maybe 30,000-50,000, but maybe I'm being generous? =/
 
At this point i'd say nothing up to minimum wage. Seriously, shit is tough right now. Even finding a job is hard, never mind how much it pays.
 
[quote name='kilm']Yeah, it's to be expected. Depends on your work history and past salaries. Straight out of college? Maybe 30,000-50,000, but maybe I'm being generous? =/[/QUOTE]

Your two statements contradict each other. Minimum wage is roughly equal to (7.25*40*52=$15,080). This exceeds $30,000 to $50,000 by at least $15,000.
 
I would expect 30k-50k depending on the major. Unless you get lucky or have an in somewhere, I would expect to find something at or near 30k to start. With more experience, you could expect to start making much more money.
 
Also depends on the Business program and University you are graduating from.

Graduates from UT's Business school with a major in Accounting, MIS, Finance will probably make anywhere from $45k to $55k starting.
 
I would not want to be graduating into this economy.

Good luck OP, sincerely. I really hope this is cleaned up in three-four years when I graduate...
 
[quote name='steve_k']Your two statements contradict each other. Minimum wage is roughly equal to (7.25*40*52=$15,080). This exceeds $30,000 to $50,000 by at least $15,000.[/QUOTE]

I'm impressed you can do simple arithmetic. Put that on your resume!

Since you lack interpretation skills, you might want to stay away from analysts positions. According to your basic mathematics, I would start trying to find cashier jobs.

If you can't find a job right out of college, you can expect to make minimum wage since most jobs that might hire you will be entry level and have high turnover. If you're hired during your college career for a full time position, the salary will depend on your experience and your past salaries. Some people will make in the 30k range, others might make 100k.

But it seems your multiplication abilities will take you far. Good luck with that. LOL @ DOING MATH TO PPL TRYING TO HELP
 
[quote name='kilm']I'm impressed you can do simple arithmetic. Put that on your resume!

Since you lack interpretation skills, you might want to stay away from analysts positions. According to your basic mathematics, I would start trying to find cashier jobs.

If you can't find a job right out of college, you can expect to make minimum wage since most jobs that might hire you will be entry level and have high turnover. If you're hired during your college career for a full time position, the salary will depend on your experience and your past salaries. Some people will make in the 30k range, others might make 100k.

But it seems your multiplication abilities will take you far. Good luck with that. LOL @ DOING MATH TO PPL TRYING TO HELP[/QUOTE]

Why are you insulting me?
You have accused me of having only basic math skills.
You have accused me of lacking interpersonal skills
Why?

The two statements contradicted each other. The first suggested only minimum wage while the second suggested up to fifty thousand dollars. That clearly is a large descrepancy. I was not trying to insult you. I only wanted clarification.

I know there are numerous variables to consider, and that is why I requested an expected salary, excluding any freak occurances like being lucky enough to have a Fortune 500 president as a dad or saving the life of an important HR manager.

If this turns to a flame war, I am seriously going to quit this board. This was an open ended, non-offensive subject and now I am getting unwarranted insults.
 
[quote name='steve_k']

If this turns to a flame war, I am seriously going to quit this board. This was an open ended, non-offensive subject and now I am getting unwarranted insults.[/QUOTE]



haha wow, besides this seeming like a hw project, you are going to take your football and head home. You are going to need thicker skin than that if you want to make it on the internet.
 
Really impossible to know without looking at major/fields you will be going into and the area you live in. I.E., in most areas a general bacheleors degree may not find you work as their are several unemployed individuals out there to fill basic work. However, if you have a skilled degree, such as an IT degree, you may be able to find work quite easily (area dependent) despite a high unemployment area. I know you said business administration but their are quite a few specialities in business administration.

The best bet for you is to look online and see what what others in your major are making, then find a cost to living calculator to ballpark what you should make in the area you are looking at. Being able to get a job is a whole different story but this should get you on the right track.
 
A friend that graduated with me (both BBA MIS) was in a job interview. Friend asked what the salary was. Interviewer said it was down from $52k starting to $45k and might go lower. Then the interviewer smiled and asked if that was a problem. When friend said no, interviewer said yea, he didn't think it would be.

You have zero negotiation power right now.
 
[quote name='steve_k']If this turns to a flame war, I am seriously going to quit this board. This was an open ended, non-offensive subject and now I am getting unwarranted insults.[/QUOTE]


Learn 2 Internet
 
[quote name='speedracer']A friend that graduated with me (both BBA MIS) was in a job interview. Friend asked what the salary was. Interviewer said it was down from $52k starting to $45k and might go lower. Then the interviewer smiled and asked if that was a problem. When friend said no, interviewer said yea, he didn't think it would be.

You have zero negotiation power right now.[/QUOTE]

Your friend fucked up by asking about salary in the interview. Noob move.
 
for your degree id say between 30-40k, unless you get a sweet gig. my gf has a similar degree (business something or other) and she got a job starting at 30k, shes been there about 4 years now and around 40k a year with a sweet annual profit sharing bonus. but if you cant find a job that pays that much, but can find a job that pays less id say take the other job. you can always continue to look for another job, and at least youll have money rolling in.
 
You are going to have a hard time finding a job. Alot of people that have more experience than you are still looking for work. If someone was looking to hire someone from college, they are going to go small on salary... my guess somewhere between 25k to 30k. In a normal economy, your degree would land somewhere around 35k-40k. Good luck on your job search.
 
friend finished similar program, he's working valet parking in NYC, so good luck!

If you find a 30k job, just take it, it's good enough for the time being; once things start getting better and you get more professional experience you can look for your 40-50k.
 
The problem for new graduates in this economy is that there are so many more experienced people who are out of work and desperate. That means that those people will be willing to take a lower level job and salary that might ordinarily be commensurate with their experience. If I'm an employer and I can hire someone who is more experienced for the same salary as someone fresh out of college, I'm going to do it. Like someone said a few posts up, employers have all the negotiating power right now. The only argument you can really make against that mindset is that someone hired fresh out of college is more likely to stick in the job once the economy recovers, whereas the more experienced person is more likely to bolt for a better job. That's a tough sell though.
 
Varies by area greatly too.

But the above post is spot on. So many people with YEARS of experience are out of jobs and looking for work that college grads with little experience don't stand much of a chance most places.

So just be patient, and be willing to take a lower paying job, or some crappy job, to make ends meet until things get straightened out and you can get a better paying job and/or a job in your field.
 
[quote name='fatherofcaitlyn']Run your own business![/QUOTE]

Rough time to try that to with consumer spending down so much. Not to mention how hard it is to get small business loans etc. still.
 
I graduated college in May. I have been temping at my sisters office (she is the lead HR manager) since April. I did intern for a few weeks during my summer break (2008). I make $27,000 (13.85/hr), right now. I do get to do massive overtime and boost the annual income to around $33,000 or so.

These are rough times, and I considder myself fortunate. Hopefully you can land something stable that is more than $10 an hour.
 
[quote name='BillyBob29']I would honestly plan on something in the mid $30's to low $40's for full time.[/QUOTE]


That's about right. I graduated a while ago (2000), but when I started the current job I have in 2006 that was the zone I was in.
 
[quote name='dmaul1114']Rough time to try that to with consumer spending down so much. Not to mention how hard it is to get small business loans etc. still.[/QUOTE]

It depends on what you want to do.

Lawn care? Bad time, but very good time four months ago.

My shitty door to door oil change idea? Depends on the salesperson.

Selling carfaxes to car buyers at local auctions? The cost of a wifi connection and a laptop or foreknowledge of the VIN numbers of selling cars and a printer.
 
Try getting a job in the field that interests you. Take what you can now maybe 20-30k and when the economy gets better maybe joining that company will pay off in a raise or something.

Also just because you take a lower paying job at first does not mean that you should stop looking for a better or higher paying job.
 
[quote name='i_bent_my_wookie']Try getting a job in the field that interests you. Take what you can now maybe 20-30k and when the economy gets better maybe joining that company will pay off in a raise or something.

Also just because you take a lower paying job at first does not mean that you should stop looking for a better or higher paying job.[/QUOTE]

Once you accept a position that requires you to be in the office from 7:30 AM until 5:00 PM, it is kind of hard to continue your job search as you are not in a position to attend job interviews or make job-related phone calls during normal business hours.

I don't want to sell myself ridiculously short and then find I am stuck several years from now in a healthy economy making half of what I am capable of. I don't want to be a job-hopper either, so the solution is not as easy as simply quitting in hopes of finding something better later on.

Besides, I'm not desperate. I don't have a wife or starving baby at home to take care of. I might just have to wait it out, however long that will take.
 
You can call on your lunch break, ask to do an interview over lunch etc.

You can wait if you want, but sometimes it looks bad if you have a long gap between college and a job (or between two jobs).

But it's your life, so do what seems right to you.
 
[quote name='steve_k']Once you accept a position that requires you to be in the office from 7:30 AM until 5:00 PM, it is kind of hard to continue your job search as you are not in a position to attend job interviews or make job-related phone calls during normal business hours.

I don't want to sell myself ridiculously short and then find I am stuck several years from now in a healthy economy making half of what I am capable of. I don't want to be a job-hopper either, so the solution is not as easy as simply quitting in hopes of finding something better later on.

Besides, I'm not desperate. I don't have a wife or starving baby at home to take care of. I might just have to wait it out, however long that will take.[/QUOTE]

M-F? 7:30AM - 5:00PM? That's 45 hours a week unless you're getting a 90 minute lunch. 90 minute lunch? That is plenty of time for an interview.

Here's a plan for you:

1. Get a job.
2. Determine if said job you got in step 1 is something you like and/or pays enough.
3. Accrue sick time, vacation time, experience, health insurance and other things you don't get from being unemployed.
4. Search for a new job. I do it between phone calls when I'm annoyed at customers. If you're a go getter, you can call temp agencies and headhunters.
5. Leave your cell phone on vibrate and have the cell number on your resume.
6. When headhunters call, call them back on your next break or lunch and see if the job pays at least 20% more than you currently, is something you really like doing or has some additional benefit your current job isn't providing.
7. Schedule time off from your job for interviews.
 
[quote name='fatherofcaitlyn']M-F? 7:30AM - 5:00PM? That's 45 hours a week unless you're getting a 90 minute lunch. 90 minute lunch? That is plenty of time for an interview.

That's 7:30 AM until 5:00 PM with a maxium of a one-hour lunch.

Considering Houston traffic, there is no way I would be able to drive out to an interview, have the interview, and drive back to work within one hour. Maybe it can be done in your city, but not in Houston.
 
[quote name='steve_k']That's 7:30 AM until 5:00 PM with a maxium of a one-hour lunch.

Considering Houston traffic, there is no way I would be able to drive out to an interview, have the interview, and drive back to work within one hour. Maybe it can be done in your city, but not in Houston.[/QUOTE]

Do you have a job yet?
 
[quote name='fatherofcaitlyn']Do you have a job yet?[/QUOTE]

No, but those were the hours from my last job, which I considered to be pretty normal. Everyone I know works a similar schedule. I've never heard of a hour and a half lunch break.
 
For recent grads, starting jobs can be $500 to $800 per week. That would only be if you have connections or extremely lucky. My budget is frozen right now so I couldn't throw you an offer no matter how pretty the resume.

BTW, aren't you the same guy that said he had an MBA and was thinking of a night shift job at McDonalds? How'd that work out? I'm not giving you a hard time, I'm just curious.
 
[quote name='fatherofcaitlyn']It depends on what you want to do.

Lawn care? Bad time, but very good time four months ago.

My shitty door to door oil change idea? Depends on the salesperson.

Selling carfaxes to car buyers at local auctions? The cost of a wifi connection and a laptop or foreknowledge of the VIN numbers of selling cars and a printer.[/QUOTE]

Plumbing repair (not new construction). Because people always have to sh*t, toilets always break, and people are afraid to get their hands dirty.
 
[quote name='Ikohn4ever']haha wow, besides this seeming like a hw project, you are going to take your football and head home. You are going to need thicker skin than that if you want to make it on the internet.[/QUOTE]

Really, you're looking for job advice on a web site that has the word ass in it. At least 75% of posts are gonig to insulting you or joke replys. Wait till you start getting turned down at job interviews, that's really going to piss you off.
 
In today's economy one might be better staying in school for a Master's Degree. College Grads are plenty, so as supply increases (and with the current unemployment stats showing a recent high, supply is up) the price paid for said commodity goes down. Furthermore, demand for workers has consistently gone down as technology develops and makes one worker more productive and another worker obsolete.

Also, Cost of Living plays into effect as well. $28,000 goes alot further in some small Texas town than say in NYC. Eitherway, you can always take a position and begin looking for a better position shortly there after. Good luck fellow CAG
 
[quote name='dmlopr']For recent grads, starting jobs can be $500 to $800 per week. That would only be if you have connections or extremely lucky. My budget is frozen right now so I couldn't throw you an offer no matter how pretty the resume.

BTW, aren't you the same guy that said he had an MBA and was thinking of a night shift job at McDonalds? How'd that work out? I'm not giving you a hard time, I'm just curious.[/QUOTE]

Yeah, I'm that same guy. I was feeling like a worthless bum and just wanted to do ANYTHING just to get out and at least feel productive. As it turns out, I was granted an extension to my unemployment benefits and will lose them if I accept a job with McDonalds (considering they could hire me to begin with). Besides, those places don't even think twice before firing someone, and it could be over anything. I decided it is too risky to accept such a position and jeopardize my unemployment benefits for potentially being fired over nothing. They could even decide after hining me that I am overqualified and then fire me to avoid any further training expenses that would be surely wasted once the economy shows any improvement.

At the time I posted that question, I was unsure as per whether or not I would be granted an extension. I was trying to prepare in case it did not pass. I have plenty in savings, so it was not just about the money.
 
I graduated from college three years ago (wow...time goes fast) from a private university with a Bachelor's in Marketing.

I'm on my second job now in the last three years and I just barely make over $35k doing SEM (Search Engine Marketing) work on over 120 sites.
 
I work in IT, I got degrees in English/History my first job out of college last year when the economy was dumping 54k!!!! I was making more then some of my friends with Masters in accounting

It was a contract to hire job, they laid off all 300+ contractors in all their departments, me included 6 months later.

Got another IT job and due to my college degree and 2+ years of exp I make somewhere around 46k...

It all depends where you live and what you're looking for. 30-40k seems average unless your an engineer then you can expect at least 45k. I've seen Computer Science guys make 60k right out of college with just a BS.

Management jobs at GS/Rite Aide/Walgreens 30k. I was looking into that for a while. My wife had a 4 year BA her first job was 25k a year

But some of the above posters are right, take that 30k a year job and look for something else while you quit.
 
Most of my friends started around 70-80k. But they have degrees in engineering and hard sciences from top institutions and went to big companies like Microsoft or Deutsche Bank. A few stand to make 6 figures their first year out.

I suppose the average would probably be 40-60k in this economy if you graduated with honors with a degree in a decent field.

Edit: Judging by the posts in this thread it may be closer to 35-55k.
 
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[quote name='steve_k']Yeah, I'm that same guy. I was feeling like a worthless bum and just wanted to do ANYTHING just to get out and at least feel productive. As it turns out, I was granted an extension to my unemployment benefits and will lose them if I accept a job with McDonalds (considering they could hire me to begin with). Besides, those places don't even think twice before firing someone, and it could be over anything. I decided it is too risky to accept such a position and jeopardize my unemployment benefits for potentially being fired over nothing. They could even decide after hining me that I am overqualified and then fire me to avoid any further training expenses that would be surely wasted once the economy shows any improvement.

At the time I posted that question, I was unsure as per whether or not I would be granted an extension. I was trying to prepare in case it did not pass. I have plenty in savings, so it was not just about the money.[/QUOTE]

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I feel for you guys graduating now. When I graduated in 1997 most of my Computer Science friends were getting offers for $45K+. My salary is going in reverse now, my company has done 2 salary cuts this year already and eliminated contributions to our pension plan. I can't tell you the last time I saw a fresh face where I work, I don't think they've hired college grads in years. Most of the people around here are 40 and up.
 
[quote name='fusguy']In today's economy one might be better staying in school for a Master's Degree.
[/QUOTE]

I'd have to agree with this. Better to ride the wave of a (hopefully) rebounding economy in a couple years with a higher education degree than to fight for the scraps with everyone else with only a Bachelor's.
 
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