Good news college grads. As you and an estimated1.6 million of your classmates graduate you’ll be facing the best job market for entry-level positions since 2008. According to the National Association of Colleges and Employers (NACE), employers indicate they plan to hire 19.3 percent more graduates in 2010-11 than they did in 2009-10, especially in certain technical and finance fields. Chances are, if you’re nabbing a new job, you probably need a new place to live.
According to the NACE, the average starting salary for a college graduate is $50,462. This figure depends on the field a grad enters: those with business majors will earn on average $44,000 and liberal arts majors will earn a starting average of $35,000.
To find our rental homes, we rounded down to a $40,000 take-home salary, which ends up being about $3,300 per month. It’s recommended that people don’t pay rent that greatly exceeds 25 percent of their monthly income, so we found post-college worthy rentals for around $833 a month in cities that have plenty of job opportunities for a new grad.
And of course if none of these options seem palatable, there’s always the option of finding a roommate, or doing what 85 percent of 2009 college grads did: move home.
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