Graduate Opportunities

In 2010, the median starting salary for bachelor degree graduates aged less than 25 and in their first full-time employment in Australia rose to $49,000 from $48,000 in 2009. Relative to the previous year, the median starting salary for male graduates remained at $50,000, whilst the median starting salary for female graduates increased by $1,000 to $48,000.

Dentistry remained the highest-paid field of education at $75,000, followed by optometry ($70,000), engineering ($56,000) and medicine ($55,000). The largest growth in median starting salary between 2009 and 2010 was observed in the fields of optometry ($5,500), dentistry ($5,000) and paramedical studies ($3,000).

Other notable findings from the report include:

• On average, starting salaries for graduates employed in regional areas were marginally higher ($1,200) than for those employed in capital cities.

• Graduates aged less than 25 and in their first full‐time jobs in New South Wales, Western Australia, the Northern Territory and the Australia Capital Territory earned the highest median annual starting salary out of any Australian State or Territory ($50,000). Conversely, graduates employed in Tasmania earned the lowest median starting salary ($47,500).

• New medicine graduates worked more hours per week on average than any other field of education (47 hours per week), followed by law and agricultural science graduates at 42 hours per week.

• Graduates aged over 25 with previous full‐time employment experience earned a higher salary on average than graduates in the same age bracket with no previous full-time work ($54,000 compared with $52,000). Both groups earned a higher median salary than graduates aged under 25 with no previous full‐time experience ($49,000).

• In the Australian government sector, engineering graduates earned the highest median starting salary at $56,000. Physical sciences graduates earned the lowest median starting salary in this sector ($48,000), although this figure is based on a relatively small number of responses (n = 15) and should therefore be interpreted with a degree of caution.

• Law graduates earned the highest median starting salary in the state government sector ($55,000), followed closely by engineering graduates ($54,400). Social sciences graduates earned the lowest median starting salary ($45,000), although this was again based on a small number of responses (n = 13).

• Dentistry graduates had, by a sizeable margin, the highest median starting salary in the public health sector ($63,000). Humanities graduates earned the lowest median starting salary ($46,000), although this was also again based on a small number of responses (n = 13).

• Dentistry graduates also earned the highest median starting salary in the professional practice sector ($80,000). This was the highest median starting salary for any field of education within any sector of employment. Architecture and building graduates earned the lowest median starting salary in this sector ($35,000).

• In the industry and commerce sector, engineering graduates earned the highest median starting salary at $57,000. Pharmacy graduates earned the lowest median starting salary ($35,000), which was also the lowest median starting salary for any field of education within any sector of employment.

• Psychology graduates had the highest median starting salaries in the schools sector ($54,000). Economics and business graduates earned the lowest median starting salary ($41,000).

• Psychology graduates also earned the highest median starting salary in the tertiary education sector ($52,000), although this was again based on a small number of responses (n = 10). Humanities graduates earned the lowest median starting salary ($46,500) in this sector.

Overall, graduates employed in the schools sector again earned the highest median starting salary ($53,000) in 2010, followed by the Australian government sector ($51,400) and the state government sector ($51,000). These sectors were also the highest paying in 2009 and 2008. As was also the case in recent years, graduates employed in the industry and commerce sector earned the lowest median starting salary ($45,000).

Source: Graduate Salaries 2010, Graduate Careers Australia