College students overestimate starting salaries by $24,000

[1srelluc]

College Students Overestimate Starting Salaries by Nearly $25,000 | Clever Real Estate

Research shows starting salaries are 30% less than what undergrads expect. About 1 in 3 say they won't make enough to live comfortably.

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Undergrads told us what they expect to earn after graduation. They're off by nearly $25,000.

Every spring, "Pomp and Circumstance" ushers in a new class of college graduates ready to march into the workforce — although their pay expectations may be slightly out of tune.

To learn more about students' pay expectations, we surveyed 769 undergraduates pursuing an undergraduate degree. We found that students wildly overestimate their starting salaries, expecting to earn $80,004 on average one year after graduation, 42% more than the actual starting salary of $56,153.

When faced with reality, nearly 1 in 3 college students (32%) don't think they will make enough money to live comfortably after graduation.

Meh, most people overestimate their value.

From the source link: 51% of college students think they deserve a higher-than-average salary because they are smarter than their peers.

 

[odanny]

Now combine that with underestimating repayment of their student loan debt, which are notorious for causing college graduates some hardship in repayment. Especially with that compounding interest.

So we overestimated our earnings, and underestimated our debt. That's no way to go through life.