Grads demand nearly $100K

I live in the land of executives but I like to stay up-to-date on all things career and business. A recent Instagram post by Forbes , shown on this article's cover, hit me in the face. Do college grads honestly expect to earn nearly $100K as the lowest annual salary? How is this possible? As an executive coach for 20+ years, I've worked with thousands of professionals in career transition and one of the things we discuss is their market value.

To see if these grads are off their rocker or not, I did market research. According to ZipRecruiter , as of May 1, 2024, the average hourly pay for a recent college graduate is $25.79 an hour in Indiana or ~$53K per year. Bankrate 's analysis listed the average starting salary in the U.S. for the class of 2024 at the bachelor’s degree level as $68,516. Even higher was Glassdoor with an average salary of $73,760 and WorldatWork showing the Class of 2024's top-paid graduates, engineering majors, can expect an annual salary of $76,736.

Considering all of these sources, and over two decades in business and executive coaching, I'm still gobsmacked that recent grads expect a salary of nearly $100,000. The Forbes post shared that despite a cooling job market, the cost of living is still at a record high and coupled with return-to-office mandates, grads are expecting bigger salary increases. As of March 2024, the lowest annual paycheck graduates would be willing to accept for a new job is $99,081.

The lowest (!), not the best or average but the lowest they will accept is $99K. Boy has life changed from when I graduated college. We left with our degrees excited to get any job and ready to work our tails off, prove ourselves, and work our way up the corporate ladder. Today's grads have a different view entirely. They want killer compensation, over-the-top benefits, mental health support, and community involvement.

Does this make them wrong or smarter than we were? I'm honestly not sure - and I have a college senior poised to graduate in December '24. This week she shared that she wants to postpone law, or graduate, school to get a job and bank some money. I love the idea - even though we want her to continue her education - and I especially love it if she can command just under $100,000 in annual compensation.

All of this is to say, we know our worth and value. If you don't, invest in market research to determine it. If you can command more, go for it! On the flip side, don't be disappointed when the market tells you otherwise.