The expectation, I've heard from recruiters, is that as a new grad you have a higher need for cash immediately (to buy furniture for your first apartment, e.g.)

The expectation, I've heard from recruiters, is that as a new grad you have a higher need for cash immediately (to buy furniture for your first apartment, e.g.). As an industry hire, you are probably already established and don't have a particular need for a lump sum right out of the gate (especially since relocation is provided for separately).