Today's college students expect to make about $103,880 in their first post-graduation job, a survey suggests. But the reality is much lower – as the average starting salary is actually about half that at $55,260, statistics show.
The survey, conducted by Real Estate Witch, found that, across all majors and institutions, undergraduate students overestimate their starting salaries by 88%. And 1 in 3 worry that they won't make enough money to live comfortably after graduation.
Real Estate Witch found that undergrads studying journalism, psychology and liberal arts were the most likely to overestimate their future pay. Journalism students, for example, expected 139% more than the median journalist’s starting salary – projecting to make $107,040 one year after graduating while the average salary is actually $44,800.
Overestimates also persisted in undergrads' outlook for mid-career earnings. Ten years into their careers, the surveyed college students expect to make $200,270 – but, in reality, the average salary is $132,497, according to online job search and employer review site Glassdoor.