There is good news for the Class of 2024: Salary projections at the bachelor’s degree level are higher than the projections reported for the Class of 2023, according to a new report from the National Association of Colleges and Employers (NACE).
“Although the overall hiring projection for Class of 2024 bachelor’s degree graduates is down slightly from last year, the increase in salary projections across the board reported in our Winter 2024 Salary Survey indicates healthy demand for this year’s class,” says Shawn VanDerziel, NACE’s president and chief executive officer.
With an overall projected average salary of $76,736, engineering graduates are expected to be the Class of 2024’s top-paid majors. This is a 3.1% increase over last year’s projections. (See Figure 1.)
As was the case last year, computer sciences majors are expected to be second on the list of top-paid majors. Their projected 2.7% increase to $74,778 is an upswing from the 4% decrease computer sciences majors from the Class of 2023 were expected to experience.
The average salary projection for math and sciences graduates ($71,076) is almost 6% greater than last year’s average projection.
Business graduates from the Class of 2024 have an average salary projection that is 3% higher, lifting it to $63,907.
In addition, business majors account for six of the top 10 degrees most in demand among employers at the bachelor’s degree level; computer sciences and engineering majors round out the list. At least 60% of responding employers plan to hire finance, accounting, and computer science majors. (See Figure 2.)
