Wondering how much money to expect from your first job? It’s an important topic to think about when applying to different positions and figuring out your budget for your first year out of college. What you can expect depends upon your major- some pay well at first, and top out at a certain level unless you open your own firm (like accounting), and others start out low but have higher long-term income potential (like marketing or finance). The National Association of Colleges and Employers recently released data on the salaries of recent graduates, shown below.
Your prospects look good- employers have increased the hiring of new graduates by 17.4% since last year. And good news for finance majors: according to Salary.com, investment specialists and financial planners are both in the top 20 jobs in America. On the happiness scale, they receive a B+ and an A- respectively, and the top ten percent make over $130k. Job growth in the next ten years is over 20%.
So what should weigh into your decision other than the salary? Make sure you consider the benefits package (medical, eye, dental, and life), the work-life balance, and other unusual perks. Even though you should be happy and grateful for a job, don’t be scared to ask if they can “do any better”. Just don’t be rude, demanding, or pretend you have another offer in the works if you don’t to start a “bidding war.”
Here are some of the best companies in America, thanks to research by Fortune magazine:
- Genentech
- Wegmans Food Markets
- Container Store
- Whole Foods Market
- Network Appliance
- S.C. Johnson & Son
- Boston Consulting Grp.
- Methodist Hospital Sys.
- W.L. Gore & Associates
- Cisco Systems
- David Weekley Homes
- Nugget Market
- Qualcomm
- American Century Invest.
- Starbucks Coffee
- Quicken Loans
- Station Casinos
- Alston & Bird
Working for Quicken Loans? A great perk is the company-sponsored bus trips to see the Cavaliers play. Goldmans Sachs employees who get married get an extra week of vacation (investment bankers aren’t all work and no play!).
The most important thing is to examine what is most important to you- money, personal time, security, etc…and then make your decision based upon what will make you happy, taking all benefits and perks into account.
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