May 21st 2024.
As graduation season approaches, many Black college students are eagerly anticipating their first job after graduation. According to new research, these students are aiming for a minimum salary of $70,000, which is 4% less than what their peers are expecting. However, this amount is still 25% higher than the average starting salary for recent graduates.
Jamie Seale, the author of the report, notes that Black college students tend to have more realistic salary expectations compared to their peers. This could be due to the fact that Black workers often earn less than their white counterparts and may face challenges in salary negotiations. As a result, these students may already be adjusting their expectations.
In order to bridge this gap and educate all students about realistic salary expectations, Seale suggests that employers should include salary ranges in job postings. This would shift the responsibility of determining fair pay to the employer, rather than putting the burden on job applicants.
The research also found that a significant number of students report feeling unprepared for the financial realities of post-graduation life. 36% of students feel that the average starting salary is lower than expected, and many are unsure if they will be able to afford basic expenses.
However, there are steps that Black college graduates can take to potentially increase their salary after starting their first job. Seale offers several tips, including taking on increased responsibilities, exploring other pay options such as bonuses or negotiating for additional perks, earning certifications, and even working a side hustle to gain more experience and skills.
In some cases, it may even be necessary to leave a low-paying job for a better offer at another company. As Seale points out, sometimes the best way to increase your salary is by seeking opportunities elsewhere.
Overall, the research sheds light on the disparities that Black college students may face in the job market and offers practical advice for navigating these challenges. It is important for both employers and job seekers to be aware of these issues and work towards creating a more equitable and fair job market for all.
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