Industry Insights & Trends

2024 Salary Guide: Latest Salaries, Hiring, and Recruitment Trends

The updated 2024 salary guide you need, plus recruitment trends you need to keep an eye on this year.
December 12, 2022
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As we, the class of 2024, dive into the workforce, we're facing a job market reshaped by AI technology and the rise of remote work. This shift demands not just our digital savvy but also our ability to adapt. But there's more to it than what we learned in classrooms. To truly gear up for our professional lives, we need a deeper understanding of the job market, an eye on evolving salary trends, and the flexibility to match the current hiring practices.

For us new grads, making the most of the job market means seizing career opportunities, particularly through externships. Extenships offer a fast-track to real-world experience without the long-term commitment of traditional internships. This setup benefits both sides: companies get the help they need in a tight economy, and grads gain valuable skills and an entry point into their careers.

As you navigate the externship market, remember to focus on the big picture. Overall, keep these key factors in mind as you start your journey to land the perfect career opportunity.

Recruitment Trends in 2024

As a fresh graduate, understanding the 2024 job market is key. Even though the economy's growth might slow down, the Bureau of Labor Statistics expects the need for skilled workers to stay strong. Which means if you've got the right skills, you'll be in demand. What's the takeaway for someone just kicking off their career? Keep building your skills and you'll likely find good opportunities. Current indicators show recruitment trends in 2024 are largely positive.

  • Healthcare:  Graduates eyeing the healthcare field are rightful to be optimistic.  An estimated 2.3 million jobs will be added in 2024. The higher healthcare demands driven by an aging population will continue driving an employment surge. 
  • Technology: The tech sector remains a dynamic field, constantly evolving with new trends. Companies are on the lookout for grads with specific skills like coding, data analysis, and cybersecurity. Graduates who are proficient in these areas are highly sought after.
  • Professional and business services: This sector, which will add 632,400  jobs in 2024, isn't just about being an accountant, lawyer, or consultant. There's a large range of roles, from data analysts and marketing pros to project managers and tech support. It's a field that offers a variety of opportunities.
  • Education and training: With 697,600 new jobs expected next year (and an ongoing shortage in many places around the U.S.), the education sector is on the lookout for new talent.  The surge in jobs is being driven by people aiming to boost their job skills, leading to more teaching and training roles.
  • Construction: The construction sector is expected to add 546,000 jobs in 2024. The job growth is partly due to increased government spending on infrastructure. 

Recent grads, take note: these industry sectors are more than just paths to your first job. They're places where you can learn and grow. Each sector offers its own unique mix of opportunities and hurdles, opening up a variety of career choices in the 2024 job market.

2024 Salary Guide by Industry 

A smart recent grad realizes a salary isn't just a figure—it reflects market demand and skill shortages. By understanding these influences, you're better positioned for success in the job market. In the end, you’ll not only make smarter career choices, you’ll also have the tools to negotiate your salary effectively. The table below provides a guide to the expected salary ranges in select sectors, revealing the underlying factors shaping these figures.

These salary ranges are just a starting point. The salary offers you receive will likely differ depending on location, company size, and the role sought.  Still, the overall  salary trend is upward across industries. That’s a sign of a competitive job market that values your skills and expertise, and that there is an opportunity tonegotiate a better salary, especially if you have unique skills that reflect a market shortage.  

2024 Recruitment Guide With Salaries

The modern employment scene is offering new opportunities that didn't exist a few years ago. The table below highlights some of these new roles and what they might offer as entry-level salary pay. Consequently, it offers us a peek into what might be a potential starting point for a career in these positions.

Moreover, the table highlights how financially important these roles are becoming, as they evolve to meet market needs. It should provide new graduates the confidence and motivation to pursue careers that not only align with their interests and skills but also cutting-edge market changes.

2024 Hiring Trends Among Employers

Aside from market demand, we’re also witnessing a shift in hiring trends that will directly influence job search strategies. The employment scene is increasingly focused on diversity initiatives and flexible work arrangements. The move is in line with evolving workplace expectations. For us, we not only need to adapt to these trends but understand how they may shape our career paths.

  • The value of soft skills: Technical know-how is no longer enough. Employers are seeking more in the way of soft skills. Skills like communication, teamwork, and adaptability are in high demand. It’s best not to neglect these skills while you refine your technical expertise. 
  • Digital skills are a must: It appears that nearly every employer values digital skills, whether its basic software proficiency or advanced technical skills. If you actively pursue continuous learning and adapt to new digital tools, you’ll significantly enhance your career prospects.
  • Remote work as the new norm: Since the pandemic, remote jobs have become a significant part of the working world. This opens up the chance to explore opportunities well beyond our local area. It's an enticing prospect, offering not only flexibility but also a variety of new experiences.
  • Embracing diversity: As more companies focus on diversity and inclusion, graduates should be optimistic about finding fair workplaces. Plus it’s inspiring to think that our different backgrounds can be a strength in our job search.
  • AI in the hiring process: Navigating AI in recruitment is a new skill. As fresh grads, it's key to tailor our resumes and online profiles to AI systems. Here's how to get ahead: Use keywords from job descriptions, keep formats simple for easy scanning, and highlight measurable achievements. Understanding these AI 'rules' can really boost your chances.
  • Sustainability matters: There's an increasing emphasis on sustainability and corporate responsibility in the business world. As socially conscious individuals, we have the opportunity to align with companies that reflect our values and actively contribute to these areas.
  • Project-based opportunities: Project-based hiring is on the rise, offering us a chance to work on various projects. Doing so will make our early career paths dynamic and diverse, as it gives us an opportunity to build a rich portfolio of experiences right out of college.

We’ll need to keep these hiring trends top-of-mind if we intend to  shape our career path in this  dynamic job market.

The Roles and Benefits of Externships

Externship experiences are more than just resume builders; they can shape your career path. In fact, they play an outsized role in highly dynamic industries where real-world experience and network connections are crucial. 

To understand these benefits better, take a close look at what they have to offer. The following table breaks down key aspects of externships and the specific advantages they bring to students like us.

These benefits are not just theoretical. They reflect the experiences of many students who undertake externships. To gain a better feel for this, consider the story of a student who experienced a significant shift in his career path thanks to an externship with HP Tech Ventures that he did through Paragon One.

“My externship with HP Tech Ventures was a great example of how a single experience can change the course of a career. After my externship, I started getting interviews, and I started seeing my resume downloaded by recruiters. It was something they’d never seen before, and they wanted to know more. Leveraging this experience has helped me in more ways than I can count!” said Dawit Teshome, who is now an analyst at Windsor Capital.

Dawit Teshome's story reveals how an externship can open up new opportunities and get you noticed. Echoing this sentiment, another student's venture capital externship equipped them with key industry skills that were key to landing exciting job offers. Diego Juarez from

“During my venture capital externship with HP Tech Ventures, I learned how to use industry-standard metrics and tools like SQL and Tableau to determine startup success potential. This opportunity helped me stand out as a candidate and opened new doors for me - including offers from EY and Accenture.”

- Diego Juarez, Case Western Reserve University, Crafted Capital Remote Externship.

Externships offer a unique blend of learning, networking, and career development opportunities. They are not just brief stints at a company, they are launch pads for ambitious careers, providing students with a competitive edge in the job market. 

2024 Salary Guide Resources

Here is a list of seven websites that can provide valuable information on salary trends (2024), negotiation tactics, and industry insights:

  • Glassdoor - Offers insights into company-specific salaries, employee reviews, and interview processes, making it a go-to resource for understanding potential employers and salary expectations.
  • PayScale - Provides data on average salaries for various positions and industries, along with personalized salary reports based on your job title, location, and experience.
  • LinkedIn Salary - Utilizes its vast professional network to gather and present data on salaries, bonuses, and additional compensation for different job titles across various industries.
  • Indeed Salary Search - Offers a searchable database of salaries, allowing users to compare earnings across different roles, locations, and companies.
  • - Features tools for salary calculation, cost of living comparison, and compensation information, aiding in salary negotiation and career planning.
  • The Bureau of Labor Statistics (BLS) - Provides comprehensive data on the 2024 employment outlook, including trends and wages across different sectors, essential for understanding broader market trends.
  • Harvard Business Review (HBR) - While not solely focused on salaries, HBR offers valuable articles and resources on negotiation tactics, career development, and workplace trends.

The websites above collectively offer a wealth of information that can help you stay informed and strategically plan your career moves.

Articles to Stay Updated on 2024 Recruitment Trends

The articles below provide a range of perspectives and information on salaries and salary trends, offering insights into industry-specific pay scales, emerging roles with their corresponding compensation, and expert advice on navigating salary negotiations in today's dynamic job market.

  1. New college graduates are overestimating their starting salaries by $30,000, report finds
  2. Prediction of Factors Influencing the Starting Salary of College Graduates Based on Machine Learning
  3. Expectations vs. Reality: Early Career Salaries
  4. Salary negotiation tips for the entry-level applicant
  5. Prediction of Factors Influencing the Starting Salary of College Graduates Based on Machine Learning
  6. Important Advice on How New College Graduates Can Negotiate Salary

Salary/Finance influencers on TikTok to Follow

Meet the TikTok stars shaping careers: Here's a rundown of the top influencers who are dishing out must-know financial advice for job seekers and career climbers. From salary tips to budgeting hacks, these TikTok gurus have got you covered.

  1. The Salary Ninja: @thesalaryninja
  2. HerFirst100k: @herfirst100k
  3. Paige Money: @paigemoney
  4. Financially_Free_Millennial: @financially_free_millennial

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