The College Board’s College Graduates Survey released this week suggests that college graduates are not earning as much income as they deserve, with the average hourly wage of a college graduate dropping from $50,000 in 2008 to $45,000 this year.
The survey found that the average wage of an associate’s degree fell from $49,000 to $35,000.
The number of college graduates who earned less than the median wage also rose.
The average hourly earnings of a bachelor’s degree rose from $40,000 last year to $43,000, and the average salary of a master’s degree decreased from $60,000 from $75,000 a decade ago to $50 and $45 an hour.
The median annual income for an associate degree increased from $45 to $53,000 and the median annual salary of an M.B.A. fell from the previous year to the same level as it was last year.
In other words, college graduates aren’t getting paid as much money as they’re being promised.
In fact, the median hourly wage fell from 2009 to 2012, from $37.70 to $36.55.
But that’s not all that has happened.
The College Payroll Survey, released in January, found that for all the growth in college-related compensation, college grads were making less than they should.
The data show that, for a college degree in 2019, the average annual income of a grad was $36,869, up from $36 on the previous report.
The paychecks of graduates are also less stable.
For the first time, the college paychecks dropped for both men and women in 2019.
The drop is the largest for men, at 17 percent, followed by women, at 16 percent.
The decrease is especially striking for graduates of the liberal arts and sciences fields, whose median earnings dropped by $11,000 each.
The Paycheck Survey also found that graduates of high schools and colleges saw a larger increase in their paychecks than graduates of less-selective, high-need colleges.
For example, the Paycheck survey found, for both students who attended high schools in 2019 and those who did not attend high schools, the percentage of graduates in the highest income bracket saw a 6.2 percent increase, compared to an 8.3 percent decrease for graduates who did attend high-needs schools.
But for the top 10 percent of earners, their paydays are likely to shrink in the coming years.
This is because, as the college grad age rises, the cost of attending college has become more expensive, particularly for people with high student loan debt.
College grad income and earnings are declining due to the increasing cost of college The College Payment Survey found that in 2019 the median monthly college loan payments of college grad recipients were $7,874, up $2,037 from a year earlier.
The numbers show that for graduates in their 20s, the annual median monthly payments were $6,564, down from $7.05 in 2019; for graduates aged 30-49, the payment fell from an average of $10,066 to $8,091.
But, for graduates between 50 and 59, the monthly payments decreased from an annual average of about $738 to about $692.
And for those aged 60-69, the payments fell from about $1,000 per month to about half that.
So, for college grad earners, the total cost of their education is rising faster than they can afford.
This means that for most of them, the paychecks are declining.
But even for the most affluent college grad, the overall paychecks for their college degree are falling.
The college Payroll survey found in 2019 that for college graduates, the wage loss of the previous four years has accelerated over the last four years, but that the rate of wage growth is still much slower than it was in 2009, at about 4.3 percentage points per year.
For a bachelor degree in the same field, the loss of one-quarter of a percentage point over four years was slightly higher.
In 2019, only 13 percent of college graduate jobs were filled.
For associates degrees, the figure was 12 percent.
For bachelor’s degrees, it was 16 percent for all graduates.
For masters degrees, 20 percent were filled in 2019 but for both degrees the figure declined to 16 percent in 2019 for all graduate jobs.
For college graduates with bachelor’s or master’s degrees in engineering, engineering, mathematics, and science, the number of graduates who were hired fell by 1.3 million in the last year, from 3.5 million in 2014 to 2.9 million this year, the College Paywork survey found.
For high school graduates, however, the increase in the number who were offered positions rose by 836,000 over the same period, from 4.2 million in 2018 to 5.