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Job Market for New Grads Continues to Thrive

ningcontent Avatarningcontent
January 27, 2011


Early indications point to a good job market for the Class of 2008, according to the Winter 2008 issue of Salary Survey, a quarterly report published by the National Association of Colleges and Employers (NACE).
Although early data are limited, the overall average starting salary offer reported in this issue of Salary Survey is 4 percent greater than the average starting salary offer in the Winter 2007 report.
“It is important to recognize that this overall average masks some variations among different academic disciplines and among majors within those disciplines,” says Ed Koc, NACE director of strategic and Foundation research. “Still, at this early juncture, our data suggest that new college graduates are in demand.”
Among the business disciplines, the average offer to accounting grads rose by just 1.9 percent over last year at this time to $47,413. Finance grads saw the same increase, raising their average offer to $48,795. Business administration/management graduates saw almost no movement in their average offer, which ticked up less than 1 percent to $43,823. Marketing graduates, however, enjoyed a healthy increase of 5.2 percent, bringing their average salary offer to $43,459.
Many graduates with technical degrees saw more robust increases in their average starting salary offers. For example, the average offer for computer science majors rose 7.9 percent from $52,738 last year at this time to $56,921.
Many engineering graduates also saw larger-than-average increases. As a group, they enjoyed a 5.7 percent boost, raising their average salary offer to $56,336. Chemical engineering grads saw the biggest increase; their average offer rose 6.2 percent to $63,749. The average offer to civil engineering grads rose 4.8 percent to $49,427. The increase for electrical engineering graduates is more modest–3.5 percent, bringing their average salary offer to $56,512. Mechanical engineering grads also saw a modest increase; their average offer rose 3.4 percent, bringing it to $56,429.
Liberal arts graduates, as a group, started the year on a high note with a 9 percent increase, bringing their average starting salary offer to $33,258. (Note: Due to limited data on these grads at this time, individual majors cannot be examined. NACE will continue to track the average salary offers for liberal arts graduates throughout the year.)
NACE monitors the job market for and salary offers to new college graduates throughout the year; NACE expects to release its next job market update in March, and will publish its next salary report in April.
Since 1956, the National Association of Colleges and Employers (NACE) has been the leading source of information about the employment of college graduates. NACE maintains a virtual press room for the media at www.naceweb.org/press/.

Originally posted by Candice A

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