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College graduates looking for jobs may benefit from starting their search in the South—specifically, the Lone Star State.

Four of the five best cities for beginning a career are in Texas, according to a new study by personal finance network WalletHub. The study analyzed 150 U.S. cities on 19 metrics, including highest starting salaries adjusted for the cost of living, most entry-level jobs per 10,000 residents and job growth adjusted for population growth.

High cost of living pushed many major cities, including New York, Chicago and Los Angeles, out of the running for the top spots. "But Texas has a lot of job opportunities that will pay you well," said Jill Gonzalez, a spokeswoman for WalletHub, particularly when cost of living is factored in.

Read MoreDemand for college-educated employees is on the rise

Job growth is broad-based across large Texas metro areas, according to a 2015 economic outlook by the Federal Reserve Bank of Dallas' San Antonio branch. However, it's expected to slow to between 2 and 2.5 percent this year, down from 3.6 percent in 2014, mainly because of lower oil prices.

Cities in the the Midwest's Rust Belt and California's Central Valley didn't fare as well as Texas. Gonzalez said fewer entry-level positions and slower job growth in these regions kept their cities at the bottom of the list.

Here are the five best—and the five worst—cities for starting a career, according to WalletHub.

By CNBC's Tom Anderson
Posted 11 May 2015

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