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Tilly on Gap Between Salary Expectations and Reality

A USA Today story about a survey showing that college students expect to make more than $100,000 in their first post-graduation jobs cited Urban Planning chair Chris Tilly, an authority on labor markets and equity. The actual average starting salary for new graduates is $55,260, the story said. But experts say that, in some parts of the country, six-figure incomes are necessary to cover the basic cost of living, which has greatly outpaced the growth of wages and salaries over the last five decades. “The federal minimum wage is, in inflation-adjusted terms, much lower than it was in the early ’70s,” Tilly said. “Wages and salaries have not kept up with housing costs, have not kept up with higher education, tuition costs. And so that sort of disjuncture, that mismatch between the reality of costs and their reality of pay, I think is distorting the way that a lot of young people are looking at the world.”


 

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