According to a recent survey by Real Estate Witch, a site specializing in U.S. housing market research, college students expect to earn $84,855 one year after graduation. This is significantly higher than the average starting salary of $55,911.
Having accurate salary expectations is crucial for negotiating a fair starting salary and for those borrowing money for college. Understanding realistic earnings can help in navigating the job market effectively.
College Students' Salary Predictions: Expectations vs. Reality
The 2023 Real Estate Witch survey shows that Gen Z students expect to earn about $30,000 more than the average starting salary of $55,911. Their expectations for midcareer earnings are even more inflated. Students anticipate earning $204,560 a decade after graduation, which is over $105,000 more than the average midcareer salary of $98,647.
Salary Expectations by Major
There are notable discrepancies in salary expectations based on major. Business and psychology majors tend to overestimate their salaries more than other students.
Business majors, on average, expect to earn $98,113 one year after graduation, while the actual starting salary is $50,200. Psychology majors expect to earn $88,265, though the real starting salary is $44,700. In both cases, students’ salary predictions are nearly double the actual averages.
