A new analysis of entry-level professional salaries has revealed that the US and Germany have topped the rankings at $49,785 and $49,635 per year respectively, according to Korn Ferry and Consultancy.co.uk.

The top five were rounded out by Australia, the Netherlands and France, which edged out the UK (6^th). Meanwhile, Russia hosted the lowest wages for graduates among the 15 nations surveyed.

In the UK, the average graduate wage rose at less than the rate of inflation between 2016 and 2017.  The study showed that while salaries had seen positive growth in regions such as London and the West Midlands, the national average graduate base salary ($34,178 or £26,268) had grown less than 1% in the last year. Furhermore, the UK dropped out of the ranking’s top five nations for best paid university graduates, from fifth-place in 2016.

“It’s easy to blame Brexit for a worsening climate for those entering the workforce in the UK, but there is more than one variable to consider,”  Benjamin Frost, Korn Ferry Hay Group Global Product Manager, Pay, said. “The country’s drop in salary ranking is a prime example of how many factors go into determining pay when one nation is compared to another. Graduates however, who choose certain career paths – especially in science, technology, engineering and maths – can expect to make more than their peers.”

The study also showed that in every nation analysed, science, technology, engineering, and math (STEM) careers were among the highest paid of the surveyed careers. Of the 5.6 million entry-level positions analysed globally with 20,000 companies, an entry-level engineer in the US, for example, was found to make 19% above the US national average at $59,213, while an entry-level software developer in Australia can make 14% above that country’s national average at $56,079.

Researchers stated that for a second year in a row, STEM careers secured number one and two for careers offering the highest university graduate salaries in the UK. At £30,904, an entry-level engineer was found to be capable of making 18% above the UK national. Engineers in London were, meanwhile, the outlier of the trend, with a 27.5% increase, while Scottish graduate engineers saw a slightly lower average of 17%. Across the UK meanwhile, a software developer was shown to earn an average of 14% above the UK national average at £30,000.

“Exposing young people to several different types of career paths early on will help them decide on careers that are both personally fulfilling and have economically viable,” Troy Steece, a Korn Ferry Futurestep campus recruiting manager, said.