On the Slide? Salary Scales for New Graduates 2004-2012

Thomas Conefrey and Richard Smith
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Richard Smith: Central Bank of Ireland

No 01/EL/14, Economic Letters from Central Bank of Ireland

Abstract: Using data from a survey of degree graduates, this Letter presents some new empirical evidence on trends in starting salaries for new graduate labour market entrants pre and post the downturn in the Irish economy. While aggregate wage data suggest that the extent of downward wage adjustment in the Irish economy since 2008 has been small, this analysis provides evidence of a signi cant decline in starting salaries for new graduates between 2008 and 2012. This indicates that aggregate data likely mask a considerable degree of heterogeneity in wage movements among di erent individuals and cohorts in the workforce. We note that the adjustment in graduate salaries, with the consequent impact on average starting salaries, provides one possible explanation for the weakness in economy-wide earnings in 2013 despite strong employment growth and signs of economic recovery.

Date: 2014-03
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