Salaries for this year's college graduates will be up, but the increase is not keeping pace with inflation, studies by two universities show.
Average starting pay will rise 2.1% from last year, according to Northwestern University's 1987 Endicott-Lindquist Report, a survey of 230 companies.
Michigan State University, which polled 761 employers, predicted that salary offers for graduates with bachelor's degrees will increase 2.9% to $21,815. At the master's degree level, the expected gain is 2.8% to $26,628. And for doctorates, it is up 2.5% to $30,754.
U.S. consumer prices, however, rose at an annual rate of 6.2% during the first quarter of this year.
The relatively small increase in starting salaries "is a function of the marketplace," said Victor R. Lindquist, director of placement at Northwestern.