However, it's not all roses and graduation cards full of cash. While the class of 2016 has better job prospects than those in any class since the Great Recession, the labor market has not yet fully recovered and this year's graduates may be competing for the same jobs as last year's graduates as well as those from the year before that.
The number of recent college graduates that are underemployed, or are accepting low-wage jobs or part-time work, is also increasing, Accenture found. To that point, 51 percent of graduates from the classes of 2014 and 2015 said they are working in jobs that do not require their college degree, up from 49 percent of graduates who reported the same the year before that.
As a result, salaries have suffered. While the average starting salary is just shy of $50,000, the National Association of Colleges and Employers said, 39 percent of graduates from the classes of 2014 and 2015 are making $25,000 or less, according to Accenture — even as student loan balances have climbed to an all-time high.
This year's graduates are determined to do better: 82 percent of 2016 graduates expect to earn more than $25,000 in their first job, and they likely will.
Employers said they plan to raise starting salaries by about 3.2 percent for new college hires this year, according to the association's report.
Correction: This story has been revised to correct the percentage of graduates in 2014 who were working in jobs that don't require a degree.