College graduates from the class of 2018 expect to earn an average of $54,010 in their first job, a rise of almost $8,000 from the salary expectations of the class of 2016, according to a new report from iCIMS.
Interestingly, while new grads expect an average salary of $54,010, recruiters estimate they will pay entry-level employees $56,532, on average — a substantial jump of more than $10,000 since last year when their estimate was $45,361, on average.
In addition to the survey of college seniors and recruiters, the report also includes data points from iCIMS’ platform, which is drawn from a database of more than 61 million applications and 3 million jobs posted per year by more than 3,500 customers.
Key data points include:
STEM hires: Outside of Silicon Valley and New York City, the top U.S. metro areas where the highest percentage of hires were STEM majors included Seattle, WA, Tampa, FL and Baltimore, MD.
Hiring timing: College seniors should expect the jobs they are applying for to be filled within 43 days of the posting date.**Time to fill is a really important metric job seekers should consider in their job search strategy**
More than 30% of college students Wait until less than 30 days before graduation to start applying for jobs.