GCCA | Graduate Careers Council of Australia

Graduate Careers Australia

ergo - Number 91 June 2003

Graduate Starting Salaries 2002

Graduate Starting Salaries 2002, one of the annual reports produced by the GCCA, is set for release this month. This 17th annual report examines the median starting salaries of recent bachelor graduates in first full-time employment in Australia, and is based on data drawn from the Graduate Destination Survey (GDS).

At the time of the 2002 GDS Survey, bachelor degree graduates aged less than 25 and in their first full-time employment earned a median salary of $35,000. This is 82.7% of the annual rate of weekly earnings. For the last ten years, the ratio between graduate starting salaries and annual average weekly earnings has remained in the low 80% range. However, this year’s figure of 82.7% does represent a drop of almost 3.0% from the 2001 figure of 85.8%. This resulted from a rise in starting salaries between 2001 and 2002 of 1.4%, concurrent with a rise in the annual rate of average weekly earnings over the same period of 5.1%.

There were differences too between female and male starting salaries. Females earned a median figure of $35,000 over the year, while males earned $37,000. Yet for both sexes it remained true that possessing a degree meant a sharp difference in terms of salary for the 20-24 age range, who are the group being considered in this report. Female graduates, for example, earned 14.8%, or $4,500, more than females aged 20-24 years in the general population, while the equivalent figures for males were 14.1% or $4,400.

Variations exist between states and territories in Australia. Graduates in New South Wales recorded the highest figure of $37,000, while the lowest starting salary recorded in 2002 was in South Australia – $34,000.

If we look at the results relating to fields of study, the remarkable level of consistency in graduate starting salaries at the top of the range continues. Top ranked fields such as dentistry, medicine, engineering, optometry and computer science continue to fill the first few positions. However, as many readers of ergo would know factors affecting starting salaries are varied and complex; and fuller discussion can be found in the report.

To order the Graduate Starting Salaries report, please contact the gradlink Helpdesk on 03 9349 4300 or [email protected]