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Starting Salaries for 2006-07 College Grads

This year's college seniors may have far too much student loan debt, but at least they're making more money so they're better able to make the payments on that debt. Employers are planning to hire 17.4 percent more college graduates for entry level jobs and other career opportunities and almost 80 percent are planning to increase the salaries they pay to those new hires. The average expected increase is 4.6 percent, up substantially from the 3.9 percent increase received by 2005-06 graduating seniors. So who are the big winners and losers?

College seniors who are majoring in marketing should see their average salaries increase by a whopping 14 percent to $41,323. Graduates in other business disciplines saw more modest increases and decreases, including a 1.8 percent decrease to $43,294 for logistics/materials management majors and a 9.2 percent increase to $43,523 for business administration majors.

Accounting is still hot thanks in large part to the Sarbanes-Oxley securities regulation legislation but accounting majors should see average salary increases of just 1.7 percent to $46,508. Accounting graduates are, however, the most in demand by employers and those who accept offers from accounting services employers should see average salaries of $47,728.

Economics majors should see average salaries of $51,631. Finance majors should see average salaries of $47,905. In past years, these were tracked together so no average increase is available.

Computer science majors are looking at two percent increases to $51,070, which those in software design and development coming in even higher at $53,989.

Chemical engineering graduates have big smiles on their faces as their average offers are expected to increase by 7.4 percent to $60,054. Civil engineers are also happy, although not as quite as their chemical engineering brethren. Civil engineers should see increases of 4.8 percent to $47,145. Electrical engineers should see 3.2 percent increases to $54,599. Mechanical engineers should see a 7.7 percent increase to $54,587.

Liberal arts graduates may be disappointed with an expected decrease of 1.1 percent after last year's 6.1 percent increase.

Source: NACE

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