Study shows recession-era graduates only earn $27,000
May 11, 2012, 3:41 PM | Updated: Jun 4, 2012, 9:35 pm
Graduation approaches for many students, but tough
times continue for college grads as a new study shows a
grim job outlook for young adults entering the workforce.
A study from Rutgers University shows that only half of
college graduates are working full-time, and nearly 60
percent believe they won’t be more financially
successful than their elders, according to the Los
Angeles Times.
A majority of students have less pay than they had
expected, and about 12 percent are under- or unemployed.
Those who graduated during the recession earned a median
starting salary of $27,000 annually, which is $3,000 less
than previous graduates.
Most new graduates said their first jobs didn’t help
advance their careers and didn’t require a four-year
degree. Four in 10 respondents said they took the job just
to make ends meet.
A quarter of all recent graduates haven’t made any
progress paying off student loans, while 40 percent of
students who graduated during the recession have the same
problem.
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