Universum finds that students' salary expectations do not vary significantly according to respondents' race or ethnicity. However,  a closer look at the survey findings reveals a huge discrepancy between the sexes when it comes to expected salary. 

Year after year, the results of Universum's surveys show that the salary expectations of female students are much lower than those of their male peers. This year, the minority women surveyed expect to earn an average starting salary at their first jobs after graduation that is $10, 000 less per year than what men anticipate making. When students are asked to project their earnings at the five-year mark after graduation, the difference in salary expectations increases to $20, 000.

Why are women's expectations so much lower than men's? Students participating in Universum's focus groups suggest two possible explanations for the differences. The first is that men and women are attracted to different industries that traditionally place varying emphasis on salary, while the second explanation places responsibility for pay differences on employers. As one female MBA student explained, certain companies "have the stereotype that women will be less likely to succeed because they are not viewed as being as aggressive or confident or political, and thus are paid less."