The National Association of Colleges and Employers (NACE) focuses on issues related to career readiness, employment of recent college graduates, and the transition from college to career.
NACE’s First-Destination Survey for the Class of 2022 revealed that the employment rates for Class of 2022 bachelor’s degree graduates have returned to pre-pandemic levels after two relatively down years.
The survey gathered responses from 344 schools/career centers, representing nearly 829,000 graduates. The graduating classes of these reporting institutions include more than 594,000 at the bachelor’s degree level, more than 187,000 at the master’s level, about 31,000 earning the doctoral degree, and more than 16,000 at the associate level.
According to the survey, the overall employment rate for the Class of 2022 bachelor’s graduates was 64.0%, and the full-time employment rate was 59.1%.
These rates almost match the employment rates for the pre-pandemic Class of 2019. The employment rates for the Class of 2020 and the Class of 2021 were heavily impacted by the pandemic.
The strong labor market with record-low levels of unemployment drove the upswing for the Class of 2022.
The overall outcomes rate for the Class of 2022 bachelor’s graduates returned to 86%, the same as for the Class of 2019.
The average starting salary for the Class of 2022 increased to $61,869, up from $58,862 for the Class of 2021.
Nearly one in four bachelor’s degree graduates who attained full-time employment was granted a bonus—an average of $9,966 on top of their base salary.
Employers likely used bonuses to counter inflation, which was about 6.5% at the time.
NACE’s First-Destination Survey for the Class of 2022 gathers information about the outcomes of college graduates six months after the end of the academic year (June 30, 2022).
The overall outcome rate is defined as the percentage of graduates who, within six months of graduation, are employed full-time, employed part-time, enrolled in a program of continuing education, participating in a program of voluntary service, or serving in the U.S. Armed Forces. The survey report and its results dashboard are available on NACEWeb.
The newly released NACE Student Survey Report & Dashboard found that nearly all graduating college students would pursue a college degree again if given the chance and most believe their degree will help them find meaningful work. View the full report at https://t.co/vuc1VenlYk pic.twitter.com/Y7LVeIySBM
— National Association of Colleges and Employers (@NACEOrg) December 13, 2023
Although employers expect the hiring of college grads from the Class of 2024 to dip by 1.9% compared to last year, they still expect a robust job market as the drop comes after two incredibly strong years of hiring, per the NACE Job Outlook 2024 report. https://t.co/7llkQibYlm pic.twitter.com/k3j9N2Gc6C
— National Association of Colleges and Employers (@NACEOrg) December 12, 2023
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