Salary Projections for Class of 2023 Graduates Level Off

Average starting salaries for graduates in the college class of 2023 appear to be leveling off, according to data from the Winter 2023 Salary Survey, released today by the National Association of Colleges and Employers.

Average salaries for 2023 grads with bachelor’s degrees in engineering and math and sciences will go up by just 0.7%. And for computer science grads, average salary is expected to fall by 4.0% year over year.

“The drop in starting salary for computer science majors is likely the result of recent recalibration among tech companies, which have traditionally offered top dollar,” said Shawn VanDerziel, NACE executive director. “In terms of starting salary, this effectively puts these graduates back where their Class of 2021 counterparts were.”

Despite this drop, NACE noted that computer science graduates are projected to have the second-highest average salary at $72,843; engineering graduates have the highest. The report also found that computer science graduates remain in high demand, with two-thirds of employers taking part in the survey expecting to hire them.

NACE’s figures are for base salaries and do not include bonuses, commissions, fringe benefits or overtime rates. The survey was conducted from Oct. 5, 2022, to Dec. 5, 2022.

A total of 170 NACE employer members took part in the survey.

Original Article: (https://www2.staffingindustry.com/Editorial/Daily-News/Salary-projections-for-class-of-2023-graduates-level-off-64621)