LOS ANGELES--(BUSINESS WIRE)--A new analysis of entry-level professional salaries by the Hay Group division of Korn Ferry (NYSE:KFY) reveals the countries and careers with the highest and lowest salaries for new university graduates around the globe.
Editor’s Note: Infographic Available
The study analyzed salaries for 5.6 million entry-level positions at 20,000 companies. The analysis focused on 25 entry-level professional job titles in 15 countries. It shows that based on the countries and career titles included, The United States offers the highest average new graduate salary at $49,785 annually.
Following are the top five average graduate salaries from the list of 15 analyzed countries: (All salaries are in U.S. dollars for consistency. Currency fluctuations have not been factored in.)
At $9,600, the Russian Federation had the lowest average salary of any country in the survey.
Following are the lowest average graduate salaries from the countries included in the list:
“It’s important to note that many factors go into determining salaries, including the local cost of living and the supply and demand for particular skill sets in specific places,” said Bob Wesselkamper, Korn Ferry Hay Group Global Head of Rewards and Benefits Solutions. “However, graduates who choose certain career paths where talent is in high demand, like engineering or technology, can expect to make more than their peers, regardless of the country in which they reside.”
At $31,545, the United Kingdom dropped to the seventh-highest paid nation for college grads, from fifth-place in 2016. Although salaries in local currency (pounds sterling) were flat year on year, when converted into U.S. dollars they fell by 21 percent – reflecting the fall in the value of sterling after last year’s Brexit vote.
STEM Careers Still Highest Paid
The study showed that in every nation analyzed, science, technology, engineering, and math (STEM) careers were among the highest paid of the surveyed careers. For example, an entry-level engineer in the United States can expect to make 19 percent above the U.S. national average at $59,213, and an entry-level software developer in Australia can make 14 percent above that country’s national average at $56,079.
“Exposing young people to several different types of career paths early on will help them decide on careers that are both personally fulfilling and economically viable,” said Troy Steece, a Korn Ferry Futurestep project manager specializing in early career recruiting.
About Korn Ferry
Korn Ferry is the preeminent global people and organizational advisory firm. We help leaders, organizations, and societies succeed by releasing the full power and potential of people. Our nearly 7,000 colleagues deliver services through our Executive Search, Hay Group and Futurestep divisions. Visit kornferry.com for more information.