What Level of Starting Pay are your Students Willing to Accept when they Graduate?
Flexjobs just released some interesting results from a study they conducted which answers that question.
- Perspectives on Starting Pay: 23% of respondents said “$24,999 or less” is the lowest pay they would accept or have accepted for their first job, while 24% were split evenly between the $25,000 to $29,999 or $30,000 to $34,999 range.
What’s the lowest pay range you would accept or have accepted for your first job? | |
Answer Choices | Responses |
$24,999 or less | 23% |
$25,000 – $29,999 | 12% |
$30,000 – $34,999 | 12% |
$35,000 – $39,999 | 8% |
$40,000 – $44,999 | 9% |
$45,000 – $49,999 | 7% |
$50,000 – $59,999 | 12% |
$60,000 – $69,999 | 6% |
$70,000 – $79,999 | 5% |
$80,000 – $99,999 | 4% |
$100,000 or higher | 4% |
- Almost one-quarter (24%) of women said they would accept or have accepted a salary of $24,999 or less for their first job––slightly higher than the average and seven percent higher than men who said the same (17%).
- Additionally, 14% of men said the lowest pay range they would accept or have accepted was $80,000 or more, compared to six percent of women.
- Entry-Level Salaries in 2024: Despite workers’ willingness to accept a lower pay range for their first job, only two percent of respondents believe “$24,999 or less” is a realistic entry-level starting salary in today’s job market.
- Nearly half (49%) of workers agreed a realistic starting salary in 2024 should fall between $40,000 to $49,999 (26%) or $50,000 to $59,999 (23%).
What do you consider to be a realistic entry-level starting salary in 2024? | |
---|---|
Answer Choices | Responses |
$24,999 or less | 2% |
$25,000 – $29,999 | 6% |
$30,000 – $39,999 | 15% |
$40,000 – $49,999 | 26% |
$50,000 – $59,999 | 23% |
$60,000 – $69,999 | 13% |
$70,000 – $79,999 | 7% |
$80,000 – $89,999 | 4% |
$90,000 – $99,999 | 1% |
$100,000 – $120,000 | 2% |
$120,001 or higher | 1% |
- Between generations, 27% of baby boomers, 26% of Gen X, and 25% of millennials said $40,000 to $49,999 was an acceptable starting salary in 2024.
- Men and women showed slight variances in what they believed to be a realistic entry-level salary in 2024:
- $30,000 to $39,999: Women (16%), Men (14%)
- $40,000 to $49,999: Women (27%), Men (23%)
- $50,000 to $59,999: Women (23%), Men (22%)
- $60,000 to $69,999: Women (12%), Men (14%)
Here is a link to the full report: 2024 Financial Pulse Report