It’s graduation season. In Minnesota, that means backyard high school graduation parties every weekend from late May through June. Most of the graduates that we know are heading off to college this fall.
Let’s all hope for their sake that they learn some useful things. I’m not sure that is actually the case. A study out this week says that the average college graduate in 2022 expects to make $104K as a starting salary. That’s a huge overshoot of actual starting salaries for college grads at $55K.
How is it that they are so wildly off in their expectations? Is the teaching on university campuses so detached from reality – or the students so coddled with undeserved praise – that they overestimate their worth by nearly 100%?
You would at least think that the Gen Z / Cyber Generation would at least have the sense to do a simple Google search to research starting salaries by their chosen major before they accept thousands in student loans to pay for their degrees.
Our son majored in computer science and graduated 2 years ago. He had a good understanding that it was a lucrative field and one that he enjoyed. I’m a bit shocked that other students would spend 4 years on campus and not have a good understanding of starting salaries.
Have college students always been this distant from the realities of the job marketplace, or is this a new phenomenon?
Chart Credit: Forbes / Statistica