The combination of this early financial advantage with long-term prospects and the absence of debt means that apprenticeship uptake will surely continue to increaseStatistics show that graduates who focused on STEM fields (Science, Technology, Engineering, and Mathematics) will very often receive the highest starting salaries this year.
In a new report from the National Association of Colleges and Employers in the USA, over half the employers who were surveyed stated that they intended to hire graduates who have Bachelor’s degrees in STEM fields. This makes them the most desirable candidates set to enter the job market later this year.
New graduate engineers are expected to make an average of $64,891 (£44,800) in 2016. This is a 3 per cent increase over their projected salaries in 2015. Computer science graduates rank a close second, with an expected take home salary of $61,321 (£42,300). Maths and science graduates fall slightly behind but can still expect to make a healthy $55,087 (£38,000).
Those who have graduated with degrees in education and humanities are ranked at the bottom of the list, with starting salaries of $34,891 (£24,000) and $46,065 (£31,800), respectively.
Engineering and computer science graduates who receive master’s degrees in 2016 are expected to earn the most compared with their peers and can look forward to receiving average starting salaries of $73,871 (£51,000) and $72,080 (£49,700), respectively. Graduates who have a master’s degree in social science were at the bottom of the list, with an expected salary of $52,333 (£36,100).
Financial security isn’t guaranteed
Despite the fact that graduates in STEM fields will earn the most on average, financial security is not guaranteed. The demand for petroleum engineers, for example, cycles with the demand for oil. What’s more, as increasing numbers of students choose to embark upon degrees in these flourishing fields, the job prospects within them tend to cool eventually.
The good news for graduates in all fields, is that despite some eye-catching headlines suggesting that the UK’s economic recovery is in slow-down, overall we should see modest improvements in the graduate employment market.
In fact, experts say that there will be more graduate-level jobs in the UK than ever before. In addition, because over half of all graduate jobs in the UK are open to applicants from every discipline, you stand a great chance of landing the role that’s tailor-made for your skills and expertise.
Whether your degree is engineering, maths, physics or fine art, there are jobs out there for you.
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