Year-End Report Shows Salary Gains for Class of 2007
BETHLEHEM, PA--Average starting salary offers to Class of 2007 college graduates rose in many academic fields, according to the Fall 2007 issue of Salary Survey, a quarterly report published by the National Association of Colleges and Employers (NACE). The Fall issue is NACE's final salary report for the college Class of 2007.
"This last look at the average starting salary offers shows increases in many disciplines compared to last year's reports," says Marilyn Mackes, NACE executive director. "In various studies we conducted throughout the academic year, we saw that demand for many disciplines was up, which may account for the corresponding increase in starting salaries."
For example, most business disciplines saw their offers rise over last year. Accounting majors gained 3 percent over last year for an average starting salary offer of $46,292. Business administration/management grads posted a 5.1 percent increase, bringing their average to $43,256.
Class of 2007 economics (business/managerial) and finance graduates posted average salary offers of $47,782 and $46,442, respectively. Management information systems grads received a 4.7 percent increase to their average salary offer, bringing it to $47,407. And, marketing graduates saw a healthy increase of 5.6 percent, boosting their average offer to $39,269.
Computer science grads' average salary offer is up by 4.5 percent to $53,051. The increase for information sciences and systems graduates is even greater (5.9 percent), resulting in an average offer of $49,966.
Average offers to engineering graduates also continued to climb; in fact, nearly all the engineering disciplines posted increases. The average offer to chemical engineering grads rose 5.2 percent to $59,218. Civil engineering graduates saw their average salary offer increase by 6.3 percent, bringing it to $48,998. Electrical engineering grads received a 3.8 percent increase to advance their average offer to $55,333. And mechanical engineering grads watched their average salary offer rise by 4.3 percent to $54,057.
The news also is good for liberal arts graduates--they end this reporting year on a positive note. Every major in the broad liberal arts category saw an increase is average starting salary offers. History majors posted a 6.1 increase to their average offer, raising it to $35,092. The average offer to political science/government majors jumped 6.5 percent to $35,261. English majors saw a slight increase of 1.7 percent, inching their average salary offer to $31,924; and sociology grads' average offer rose by 3.4 percent to $32,161.
Early indications, including preliminary results from NACE's annual Job Outlook survey, suggest that the Class of 2008 will also enjoy a healthy job market. NACE will post its first look at the job market for the Class of 2008 in mid-September and will release its first set of salary statistics for the college Class of 2008 in February.
About Salary Survey: Salary Survey is a quarterly report of starting salary offers to new college graduates in 70 disciplines at the bachelor's degree level. The survey compiles data from college and university career services offices nationwide. Salary Survey is issued in Winter, Spring, Summer, and Fall, with the Fall issue serving as the year-end report. (Salaries reported in this press release reflect offers to bachelor's degree candidates.)
Article courtesy of NACE. About NACE: Since 1956, the National Association of Colleges and Employers (NACE) has been the leading source of information about the college job market. NACE maintains a virtual press room for the media. NACE is headquartered in Bethlehem, Pennsylvania.
Leave a comment