According to the US Bureau of Labor Statistics (BLS), the median annual wage for people with a business degree is $65,000. That’s a bit higher than the median wage for bachelor’s degree holders across all fields, $60,000.

Starting salaries for 2022 graduates with a business degree are projected to climb 3.1% over last year, to an average base of $60,695, according to NACE’s Winter 2022 Salary Survey. That’s nearly double 2021’s projected increase of just 1.6%.

Business major graduates in the US make an average salary of $50,670 per year or $24.36 per hour.The city with the highest salaries for business major graduates is New York, NY at $61,944 per year.Even entry-level jobs for business majors have an average salary of $29,000 per year in New York, NY.San Francisco, CA, Washington, DC, Hartford, CT, Boston, MA, Seattle, WA, and Baltimore, MD also have great salaries for business major graduates.New York, New Jersey, Connecticut, California, and Massachusetts are the highest paying states.Utah, Nebraska, Louisiana, Oklahoma, and Arkansas are the lowest earners.

Early last year, the National Association of Colleges and Employers projected that starting salaries for 2022 business major graduates would climb 3.1% over 2021 to an average base of $60,695. According to our ranking data, the average base salary for all undergraduate business programs was $68,438, an increase of 10.75% over 2021.

Starting salaries are soaring in industries such as investment banking and consulting, and graduates can walk away with an average of $83,980 in salary and signing bonuses with a business degree from one of the top 10 programs.