A new analysis of entry-level professional salaries by the Hay Group division of Korn Ferry reveals the countries and careers with the highest and lowest salaries for new university graduates around the globe. The study shows that in every nation analysed, science, technology, engineering, and math (STEM) careers are among the highest paid of the surveyed careers:
Following are the top five average graduate salaries from the list of 15 analysed countries:
At $9,600, the Russian Federation has the lowest average salary of any country in the survey. Meanwhile, the United Kingdom ($31,545) dropped to the seventh-highest paid nation for college grads, from fifth in 2016. Although salaries in local currency (pounds sterling) were flat year on year, when converted into US dollars they fell by 21% – reflecting the fall in the value of sterling after last year’s Brexit vote.
Bob Wesselkamper, Head of Rewards and Benefits Solutions, Korn Ferry Hay Group Global, said:'It’s important to note that many factors go into determining salaries, including the local cost of living and the supply and demand for particular skill sets in specific places. However, graduates who choose certain career paths where talent is in high demand, like engineering or technology, can expect to make more than their peers, regardless of the country in which they reside.'
The study analysed salaries for 5.6 million entry-level positions at 20,000 companies. The analysis focused on 25 entry-level professional job titles in 15 countries. All salaries are in U.S. dollars for consistency. Currency fluctuations have not been factored in.
‘Korn Ferry is the preeminent global people and organisational advisory firm. We help leaders, organizations, and societies succeed by releasing the full power and potential of people. Our nearly 7,000 colleagues deliver services through our Executive Search, Hay Group and Futurestep divisions.’
