- If the student is a high achiever (high grades, many awards, leadership positions, etc.) who is not limited to a certain region - Attempt to negotiate a salary of $42,000 or above, including full health insurance and retirement benefits. Our best students make $52,000-$62,000 (with these benefits). Monsanto recruiters told me that their base offer is $42,000 with benefits.
- If the student is an average achiever and is not limited to a certain region - Do not accept a salary under $30,000 (with benefits) without looking elsewhere, unless it is a job you particular like.
- If the student performed poorly in school and/or is limited to a particular region - Do not expect your college education to give you a huge bump in salary over those without a college degree. These students often make less than $30,000 and as little as $24,000, perhaps even without benefits.
One more piece of information can be found in the below graph. This graph shows the average salary for economics majors and other majors across the nation. With less than 5 years experience, the average salary for economics majors is about $45,000. For management, accounting, and finance majors the salaries are also above $40,000, and agricultural economics can be thought of as a good economics degree with a particular focus on business management.
Thus, my suggestion that good ag econ students who are not limited to a region should seek a salary of $42,000 or above seems consistent with other data. If you relay this information to your students, don't forget to show them the really cool part of the graph...the part that shows economics majors make much more than their business counterparts later in their career!