New college graduates overestimate starting salaries by nearly $24,000, report finds

It's a challenging labor market for those just starting out, and new job seekers will likely have to recalibrate their earning potential. Today's college seniors expect to make about $80,000 one year after graduation, according to a survey of undergraduates pursuing a bachelor's degree by real estate site Clever in February and March. Yet, the average starting salary for recent graduates is $56,153, Clever found, a difference of nearly $24,000. The disconnect between perception and reality only worsens over time. A decade into their careers, students anticipate making $144,889 on average. That's well over the average midcareer salary of $95,521, according to Clever. More than three million new graduates enter the workforce every year, banking on the idea that a college degree is the ticket to a well-paying job. However, this year, those armed with a newly minted diploma have faced one of the toughest job markets in years. As the artificial intelligence boom reshapes the workforce, some large employers have said they're replacing entry-level positions with AI in order to streamline operations and cut costs. Concerns about the economy and persistent inflation are also causing some companies to put hiring plans on hold. Amid a shaky job market, rising tuition and ballooning student loan balances, more young adults are questioning whether a college degree is worth it, several studies show. At the same time, students across majors overestimated the future value of their deg