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.
Seale offered tips that Black college graduates can take to potentially get a raise after they start working:
- “Take on increased responsibilities: More companies are transitioning away from annual raises to raises based on performance. Highlight how your performance has impacted the company or how you’ve taken on increased responsibilities. Make an itemized list and don’t assume your boss remembers everything you do.”
- “Explore other pay options: Your company may not give you a raise, but they may give you a bonus. You could also try to negotiate for other perks, such as more paid time off.”
- “Earn a certification: Typically, more education means more pay. If you grow your skills through a developmental class, it may increase your earning potential. If you don’t have the money to pay for a certification, ask if your company has a personal development budget that will cover the expense.”
- “Work a side hustle: This will help you earn more money in the short term, and it may also help grow your skills and experience that could boost your earning potential.”
- “Leave for a better offer: Your company may never give you a raise if it’s not doing well financially, but you don’t have to stay in that low-pay environment. Sometimes the best way to raise your salary is to get a better offer at another company.”
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