Graduation day is going to be followed by a hard dose of reality for the class of 2015.
A survey conducted by the consulting firm Accenture during the month of March demonstrates that this year’s crop of college graduates are grossly overestimating the amount of money they will make in their careers post-university, as reports the Huffington Post.
Specifically, the poll found that only 15 percent of U.S. students from the class of 2015 anticipate that they will earn $25,000 or less annually in their first job after graduation.
In reality, 41 percent of 2013 and 2014 graduates are currently earning salaries in this range.
What’s more, almost 50 percent of upcoming graduates believe they will earn $40,000 or more each year in their first post-college job.
Sadly, a mere one-fourth of graduates from the classes of 2013 and 2014 are making a salary at this level. It’s no surprise that 49 percent of the college graduates from these previous two classes describe themselves as “underemployed” in their current positions.
And while job prospects are meager and salaries disappointing, this year’s graduating class is saddled with the most student loan debt that ever before.
It’s a recipe for financial instability.
