After looking at what the difference an education may make in one's lifetime earning potential, the next question I had was "How much is a college degree worth today?" The best way to answer the question is to see what the starting salaries being offered to recent graduates are and fortunately, William Polley recently linked to a CNN/Money article that looks at what pay the members of the Class of 2005 are pulling in on average across the U.S.
The tables below are taken from data compiled by the National Association of Colleges and Employers (NACE). The first table includes the average starting salaries for a variety of degrees:
| Average Starting Salaries for 2005 Graduates by Degree | |
|---|---|
| Degree | Salary ($USD) |
| Chemical Engineering | 54,246 |
| Electrical Engineering | 52,009 |
| Computer Engineering | 51,496 |
| Computer Science | 51,292 |
| Mechanical Engineering | 51,046 |
| Aerospace Engineering | 50,701 |
| Industrial Engineering | 49,541 |
| Accounting | 43,809 |
| Information Sciences | 43,732 |
| Civil Engineering | 43,462 |
| Economics/Finance | 42,802 |
| Business Administration | 39,448 |
| Marketing | 37,832 |
| Liberal Arts | 30,337 |
The next table presents the average starting salaries for the positions that employers are most frequently seeking to fill this year.
| Average Starting Salaries for Employers' Most Offered Positions | |
|---|---|
| Occupation | Salary ($USD) |
| Accounting (Private) | 44,564 |
| Management Trainee | 35,811 |
| Teaching | 29,733 |
| Consulting | 49,781 |
| Sales | 37,130 |
| Accounting (Public) | 41,039 |
| Financial/Treasury Analysis | 45,596 |
| Software Design/Development | 53,729 |
| Design/Construction Engineering | 47,058 |
| Registered Nurse | 38,775 |
The numbers presented in the tables above are preliminary numbers for the most recent NACE survey. Final numbers for the Class of 2005 will be available in September 2005.
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