5 Steps To Help Black College Graduates Earn More After Graduation
Originally Published May 20, 2023.
With graduation here, Black college students are willing to accept a minimum of $70,000 from their first job. Black college graduates should earn more.
That amount is about 4% less than the $72,580 other respondents would take, based on new research regarding college students’ salary expectations. The data showed Black college students expect to take home $80,000 one year out of college, about 6% less than the $84,855 of all students. The $70,000 for Black students is 25% higher than the $55,911 average starting salary for recent graduates.
Jamie Seale, the report’s author, declared Black college students are typically more realistic about their salary expectations than other students. However, Black workers tend to earn less than white workers, and they don’t fare as well in salary negotiations, so Black students may already be tempering their expectations.
She says by including salary ranges on job postings, employers can educate all students about realistic salary expectations. She says this would benefit Black students and other people of color.
“Rather than job applicants having to determine if their pay is fair and equal to employees of the same position, that responsibility shifts to the employer.”
The data also revealed that 36% of students report the average starting salary is lower than expected, and (34%) don’t believe they will be able to afford basic expenses after graduation.
Some 97% of students would consider lowering their salary expectations, but they would not work for less than $72,580 on average at their first job. Around 70% of students say they deserve more than the average starting salary because they work harder than their peers.
