Houston salaries for new graduates stretch further than in other cities, report says
Rice University graduate Asmita Banerjee hugs friend Megan Chang as Chang is walking off the stage at the Doctoral Commencement Ceremony May 6 at Tudor Fieldhouse in Houston. Total of 268 doctoral degrees were awarded this school year. New graduates are likely to get a paycheck that stretches further in Houston compared to other major cities, based on data analyzed by Gusto.
"Houston is one of those areas where there's both a lot of growth, there's really solid pay, and— when you combine that with the low cost of living— turns out to be the city where new graduates can get the biggest value for their paychecks coming right out of college," said Luke Pardue, a Gusto economist who conducted the research.Houston ranked just ahead of Philadelphia, which was second in terms of cost of living-adjusted average salary, according to the report.
Graduates just entering the job market may find a greater challenge landing those jobs, the report found. Gusto predicted the rate at which job-seekers aged 20 to 24 are hired into full-time jobs is expected to be 25 percent lower this month compared to May 2022. Pardue said this is related to an overall cooling economy.
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