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New data shows that the average starting salary for new graduates has risen by 8.8% over the past year, to $74,500. This compares with the current inflation rate of 7.8% and overall wages growth of just 3.1% in 2022.
Dan Purchas of GradConnection notes that employers such as investment banks and proprietary trading firms are offering starting salaries of $200,000 to $300,000 in order to attract the top 1% of graduates.
Meanwhile, some 91.5% of graduates in 2022 had a full-time job four months after graduating, compared with just 73.6% in 2019.
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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.
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