Newcastle graduates' earning power ahead of the rest
University of Newcastle (UON) bachelor degree graduates continue to earn more than the national average for their first full-time job, according to the latest findings of the Australian Graduate Survey.
The 2014 survey of graduates found that the median starting salary for UON bachelor graduates was $55,000, ahead of the national average for Australian graduates of $52,500.
Broken down by fields of education, UON graduates in engineering earned an average starting salary of $63,500, and in education, $60,000. UON graduates in computer science and law started on $58,000; humanities $51,100; and architecture and building at $50,000. All were above the national median salary for graduates in these disciplines.
UON also outperformed the nation for graduate employment across 10 disciplines, with 100% full-time employment rates recorded for UON medical and electrical engineering graduates. Other fields of education that had excellent employment outcomes included civil engineering (94.1% full-time employment); nursing (basic) (89.7%); accounting (88.5%); economics (87.5%); and building (84.3%).
Analysis of the national picture by Graduate Careers Australia indicated the labour market for new graduates has yet to fully recover from the downturn following the global financial crisis. In 2014, 68.9% of new bachelor degree graduates who entered the full-time labour market in Australia found a full-time position within four months of course completion. The equivalent overall figure for all UON graduates was 67.2%.
However, GCA’s Beyond Graduation Survey (BGS), which followed up AGS respondents three years after their original survey response, showed full-time graduate employment reached 90.2% three years after graduation. The Survey also forecast employment of graduates will grow by 13.1% over the five years to November 2019.
University of Newcastle Deputy Vice-Chancellor (Academic), Professor Andrew Parfitt, said Newcastle graduates were well prepared for competitive national and international job markets.
“Our graduates are in strong demand with employers and command higher salaries for their first professional job. A degree creates a lifetime employment advantage, and strong graduates enable our region to strengthen and grow.”
The Australian Graduate Survey is an annual study of outcomes for graduates who have completed a course of study at an Australian higher education institution conducted by Graduate Careers Australia.