COLUMBUS, Ohio — A new survey shows the next crop of college graduates have unrealistic expectations about their first job.
The survey, conducted by Real Estate Witch, shows that graduates believe they will make six figures in their first job when they’ll make about $50,000.
According to Real Estate Witch, these graduates are entering a job market rapidly recovering from the pandemic with openings hovering near record highs.
Wages have risen 4.5% since December 2020, the largest increase since 1983, with starting salaries increasing 8% in the last five years.
Real Estate Witch said the strength of the economy has likely inspired these unrealistic salary expectations.
According to the survey, the undergraduate class of 2022 overestimate their starting salaries by 88% across all majors.
Journalism graduates had the most unrealistic expectations, overestimating their starting salaries by 139%. That means they were expecting to make $107,000 in their first year, whereas the actual average is just below $45,000.
Meanwhile, computer science majors have the most realistic expectations, overestimating their starting salary by only 27%. They projected they'd make $95,000 when the starting salary is closer to $75,000.
Of the students surveyed, Real Estate Witch said 15% have accepted a job offer with most of those with in-demand degrees such as finance and education.
Because of the job market, 44% said the job search is progressing easier than expected. Students who don’t have jobs lined up are optimistic about their prospects and expect to find a job within three months or less.
