Up to 17 percent above national average, so why aren’t more studying?
Australian students that graduate in science, technology, engineering and mathematics (STEM) fields are seeing entry-level salaries up to 17 percent above the national average, according to new data.
A study by Korn Ferry Hay Group found that Australian STEM graduates were offered starting salaries of between 11 and 17 percent above the average across all professions.
The study looked at salaries for 5.6 million entry-level positions at 20,000 companies. It took into account 25 job titles, and covered 17 countries.
In Australia, a software developer could expect to earn the most straight out of university, followed by an “environmental professional” and an “engineer”. All could expect a starting salary between $71,000 and $75,000, the study said.
Korn Ferry Hay Group’s rewards and benefits solution head for Australia Trevor Warden said that the picture was fairly similar for STEM graduates worldwide.
“The study showed that in every nation analysed, STEM careers were among the highest paid of the surveyed careers,” Warden said.
“For example, an entry-level engineer in the United Kingdom can expect to make 13 percent above the UK national average, and an entry-level engineer in France can make 14 percent above that country’s national average.
“In Australia too this is also the case, with an entry-level engineer making 11 percent above our national average, and an entry-level software developer 17 percent above.”
However, Warden noted that simply graduating in a STEM field might not be enough to secure a high salary on its own.
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