Updated 17 January 2024
Beginning your professional journey is an exciting time as a recent graduate, but it can also be filled with questions—particularly about salaries.
Our aim is to make the salary landscape easily understandable, show you what 'average graduate salary’ means, and equip you with the skills and confidence to negotiate your worth effectively.
What we’ll cover:
Understanding the Salary Landscape
What is the Average Graduate Salary?
Average Graduate Salaries by Industry Sectors
Average Graduate Salaries by State
Gender Differences in Graduate Salary
The Role of Internships and Entry-Level Jobs in Shaping Your Salary
Negotiating Graduate Salaries
In Summary
Understanding the Salary Landscape
Salaries aren't created equal - they vary by industry, job role, and location.
For example, a tech graduate in Sydney, with its flourishing tech scene, may command a higher starting salary than their counterpart in a less tech-focused city like Hobart.
Factors such as cost of living, supply and demand of skills, and industry profitability can significantly influence these variations.
What is the Average Graduate Salary?
The average graduate salary in Australia is $76,398 in 2024.
'Average graduate salary' is a benchmark influenced by factors like industry and geography.
This average, calculated from salary data of various graduates, offers a general idea of what to expect in your field. However, salaries can greatly vary, so consider it a guideline, not a hard rule.
Average Graduate Salaries by Industry Sectors
| Industry | Average Starting Salary for 2024 Graduate | Increase/Decrease Compared to 2023 Salary | Average Expected Graduates for 2024 Intake |
| Accounting and Professional Services | $64,467 | + 4.15% | 237 |
| Australian Government | $71,321 | + 2.54% | 76 |
| Banking, Financial Services or Insurance | $77,897 | + 1.92% | 78 |
| Engineering | $76,607 | + 2.83% | 69 |
| IT Consulting, Hardware or Software | $75,311 | - 1.58% | 37 |
| Mining | $94,286 | - 12.00% | 47 |
| Oil, Gas, Energy and Resource | $90,308 | + 5.10% | 18 |
| State Government | $70,309 | + 0.50% | 54 |
*all data from the 2024 AAGE Employer Survey Summary Report
Average Graduate Salaries by State
Where you are geographically will impact the salary you can expect, even within the same industry. Cost of living, demand for certain skills, and economic conditions all play a significant role.
You can explore average graduate salaries across different industries and states on GradConnection. The Hays salary guide also offers an in depth breakdown of graduate salaries for your area of study across Australia and New Zealand.
As a recent graduate you may want to consider that states with a higher concentration of certain industries often have higher average salaries for those fields.
For example, recent graduates in tech may consider where job growth is projected to be in their industry. A 2023 research report found there were 96 tech clusters in Australia with a high concentration of tech workers and tech related activity. These are the “engine rooms of tech job growth” where, by 2030, two-thirds of growth will come from these existing clusters and two thirds of that will be in “super clusters”. These regions are:
- Sydney Arc: including North Ryde, Chatswood, Lavender Bay, Millers Point and Redfern.
- Melbourne Diamond: spanning Parkville to St Kilda.
- Brisbane Corridor: stretching from Bowen Hills to Toowong.
- Canberra Triangle: connecting Belconnen, Phillip and the airport precinct.
By considering these factors, graduates in any industry can negotiate a higher average salary over their career due to a projected increasing demand for their skills.
Gender Differences in Graduate Salary
Despite continuous strides towards equality, the gender wage gap remains an issue—even among graduates.
On average, women earn less than men starting from their first job. Between men and women the hourly earnings gap is 11.6%, full-time weekly pay gap is 13.3%, and total annual taxable income gap is 29.2%. This disparity in hourly wages and full-time wages stems from various factors including gender discrimination and lower paid jobs tending to be dominated by women. Increasing awareness and advocacy are crucial in addressing these gaps.
In 2022, the average male undergraduate full-time salary was $69,400. The average female undergraduate full-time salary was $67,400. On average, women earn 2.9% less than their male graduate counterparts.
| Study Area | Female | Male |
| Science and mathematics | 65,000 | 67,100 |
| Computing and Information Systems | 69,000 | 69,000 |
| Engineering | 71,000 | 71,900 |
| Architecture and built environment | 60,000 | 68,000 |
| Agriculture and environmental studies | 70,000 | 68,700 |
| Health services and support | 68,500 | 72,000 |
| Medicine | 79,300 | 80,000 |
| Nursing | 67,800 | 68,900 |
| Pharmacy | 52,200 | 54,300 |
| Dentistry | 99,100 | n/a |
| Veterinary science | 62,600 | n/a |
| Rehabilitation | 69,400 | 70,000 |
| Teacher education | 72,100 | 73,100 |
| Business and management | 65,000 | 65,000 |
| Humanities, culture and social sciences | 65,800 | 68,200 |
| Social work | 75,000 | 74,000 |
| Psychology | 67,400 | 70,000 |
| Law and paralegal studies | 68,000 | 72,600 |
| Creative arts | 55,000 | 60,000 |
| Communications | 60,000 | 60,300 |
| Tourism, hospitality, personal services, sport and recreation | 51,600 | 61,000 |
| All study areas | 67,400 | 69,400 |
| Standard deviation ($) | 10,100 | 10,900 |
Note: A blank cell indicates there is no data for that cell and n/a indicates a suppressed value (n<25).
Source: 2022 Graduate Outcomes Survey, Undergraduate median full-time salaries by study area, 2021-2022 ($)
The Role of Internships and Entry-Level Jobs in Shaping Your Salary
Internships and entry-level jobs are important stepping stones in your career.
While they may not offer top-tier salaries, they offer valuable experience that can lead to better job prospects and higher salaries in the future. Consider these roles an investment in your career.
Internships
These short-term work experiences, often related to your field of study, provide a platform for you to gain practical knowledge and develop skills relevant to your industry. While the pay for internships can vary (and some might even be unpaid), the invaluable hands-on experience you gain often boosts your resume and makes you more marketable to future employers.
This can translate into a higher starting salary when you move into full-time roles, as employers often value real-world experience. Furthermore, many companies offer full-time positions to their interns, providing a potential direct pathway to a well-paying job.
Entry-Level Jobs
These are the positions you're likely to land right after graduation. While the term "entry-level" might imply lower pay, these roles are vital in building your career foundation. They provide an opportunity for you to apply what you've learned during your studies in a real-world context, and gain additional practical skills.
As you grow in your entry-level role, you're likely to see incremental salary increases reflecting your developing skills and increasing value to the company. These roles also often act as stepping-stones to more advanced positions within your chosen field, which typically come with higher salaries.
Remember, while these roles might not offer the highest pay initially, the experience and skills you gain are an investment in your future earning potential. They're the first steps in your career journey, paving the way for growth and better compensation in the future.
If you’re interested in finding entry-level jobs but feel you don’t have experience, we’ve got you covered, with six practical tips to get that first job and create a strong career foundation.
Negotiating Graduate Salaries
Negotiating your salary, particularly as a recent graduate, can be a nerve-wracking experience. However, it’s important to remember that this process is a normal part of starting your career and you're certainly not alone in feeling apprehensive.
1. Research Is Key
The first step in negotiating your salary is being well-informed. Research the average salaries for your role in your industry and in your area. There are many online resources like our salary pages on Career Advice or SEEK Career Advice that can provide general information as well as provide tools to compare salaries.
Also, keep in mind the current inflation rates—your salary needs to cover not just your present living expenses, but also potential future increases. The Hays Salary Guide shows you won’t be alone in this. Almost four in five of their survey responses say it’s reasonable to expect pay rises to keep up with inflation.
2. Know Your Value
Think about the unique skills and experiences you bring to the table. Did you excel in a particular area of your studies? Have you done any internships or relevant work experience?
All these factors can increase your market value. Don't undersell yourself, but be sure to balance confidence with realism.
Among the Hays Salary Guide’s key findings was that 88% of employers are experiencing a skill shortage. This, coupled with employers intending to increase headcounts, means that this knowledge is one part of making you a more confident negotiator.
3. Be Prepared to Justify Your Request
If you're asking for more than the initial offer, be prepared to explain why. Draw on your research and highlight the specific skills, qualifications, and experiences you bring to the role. Be clear and concise in your negotiation.
4. Practice Makes Perfect:
Consider practising your negotiation conversation with a mentor, friend, or family member. This can help you refine your points and get comfortable with discussing this potentially uncomfortable topic.
5. Consider Other Benefits:
While you should strive for a salary that reflects your value, remember that compensation isn't just about the paycheck. Consider other factors like benefits, work-life balance, learning opportunities, career growth potential, and job satisfaction. Before negotiating, consider what’s important for you to have beyond your salary.
6. Maintain Professionalism
No matter how the negotiation turns out, maintain professionalism. This shows your potential employer that you're not just capable, but also respectful and easy to work with.
Negotiating your salary might seem daunting, especially with the added pressures of today's economy. But remember, this is a key part of advocating for yourself and starting your career on the right foot. Stay informed, confident, and open-minded.
In Summary
Understanding and navigating graduate salaries is a key part of your career journey. It might seem overwhelming, but you're not alone, and it's okay not to have all the answers right away. If you’ve read this you’re already being proactive, keep it up, know your value and you’re off to a good start with your career journey!
Explore more with our new Graduate Salary Pages!
