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College grad salaries up nationally 2.8% in 2018, Philly average is $54K

With the 2018 U.S. inflation rate hovering just over 2 percent, real wages for this year's grads are virtually flat.

New graduates participate in a Rutgers University graduation ceremony in Piscataway Township, N.J
New graduates participate in a Rutgers University graduation ceremony in Piscataway Township, N.JRead moreAP

Salaries for newly-minted American college graduates are virtually flat from 2017, according to new data from recruiting firm Korn Ferry.

In their study, Korn Ferry analyzed salaries of 310,000 entry-level positions from nearly 1,000 organizations across the United States. Based on the analysis, 2018 college grads will make on average $50,390 annually, or 2.8 percent more than the 2017 average of $49,000. Philadelphia grads are estimated to earn an average just above $54,000.

"With the 2018 U.S. inflation rate hovering just over 2 percent, real wages for this year's grads are virtually flat," said Korn Ferry senior client partner Maryam Morse in a news release. "However, with competition for top graduate talent so fierce, it's critical that companies pay competitively, create an engaging culture and provide clear paths for advancement."

The study, released Monday, included an analysis of average college graduate salaries in 10 major cities across the United States. The average salaries by city (in alphabetical order) are:

  1. Atlanta ($49,584)

  2. Boston ($59,460)

  3. Chicago ($55,177)

  4. Dallas ($50,743)

  5. Denver ($53,010)

  6. Los Angeles ($56,386)

  7. Minneapolis ($53,766)

  8. New York  ($60,972)

  9. Philadelphia ($54,169)

  10. San Francisco ($63,995)