The 2015, updated, annual review from Graduate Careers Australia of Bachelor degree salary earnings shows pay for those holding Bachelor degrees is on the rise in some fields and there’s good news for post graduates as well.
The Graduate Salaries 2014 Review details the earnings of 2014 bachelor graduates undertaking full-time work for the first time.
Since 1977, Male Average Weekly Earnings (MAWE) have grown at a faster pace than the medium starting salary growth for Bachelor degree graduates less than 25 years old, in their first, full-time employment (GSS).
Those new graduates working for the first time, full-time in the professional private practice sector have seen vaulting increases in their median starting salary growth relative to 1977.
2014 starting salaries for law graduates was 929.8% equivalent of the starting salary in 1977, compared to a 546.9% average across other fields.
Over the whole 35 time period from 1977, the law field showed experienced more GSS growth, than MAWE, which is great news for new full-time graduates.
Over the course of 2014, the sectors which enjoyed the most GSS growth for full-timers were:
If we look at the period 1977 to 2014, it shows newly minted medical graduates experience the lowest median, full-time starting salary advancements.
Those working in the commerce and industry sectors have had the least growth in median full-time starting salaries since 1977.
Post graduate salaries aren’t as easy to formulate compared to new grads, but Graduate Career Australia nonetheless have compiled a few figures to give us an indication of what’s happening in the labour market in regards to full-time post graduate salaries: