A story out by Katilin Madden from Career Builder highlights the hiring and and salary trends likely to meet new grads in 2011.
“After three years of disappointing hiring and salary trends for entry-level workers, this year’s crop of college grads are facing improving job prospects. Not only are hiring projections up over last year, but employers are also planning to increase starting salaries for this year’s new graduates. Here’s a deeper look at both encouraging trends for the class of 2011.”
Hiring outlook
According to the National Association of Colleges and Employers’ 2011 job outlook, employers are planning to hire almost 20 percent more new graduates this fall than they did in the fall of 2010, the first double-digit year-over-year jump in hiring since 2007. The anticipated increase will also nearly halve the ratio of job seekers to job postings this year as well, bringing the number from 41-to-1 in 2010 to just 21-to-1 in 2011.
Which industries will provide the most jobs? The NACE survey reports that the most opportunities will be in accounting (public and private), consulting, financial analysis, sales, investment banking and management trainee programs; while a recent CareerBuilder survey on college hiring found that companies plan to recruit the most new grads in the areas of IT, customer service, sales, finance, accounting and marketing.
Regardless of major or degree, though, there are certain qualities that all employers will be looking for when they hire new talent. Human resources managers who responded to the CareerBuilder survey said that the most important areas of proficiency for a new grad are written and verbal communication, technical ability, project management, research and math.
Employers ranked the following as most important experiences for new grads:
1. Internships
2. Part-time jobs
3. Volunteer work
4. Class work
5. Involvement in school organizations
Salary outlook
In addition to more job opportunities, graduates from the class of 2011 can expect salary offers that are higher than the ones their counterparts in 2010 and 2009 received. Twenty-six percent of employers surveyed by CareerBuilder said they planned to increase salary offers to new grads this year, up from 16 percent in 2010 and 11 percent in 2009.
Top Careers
Chemical Engineering $66,886
Computer Science $63,017
Mechanical Engineering $60,739
Computer Engineering $60,112
Information Sciences and Systems $56,868
Business Systems Networking/Telecommunications $56,808
The irony of this and every other data point we have been studying for three years is that the number of graduates in the highest paying jobs is going down. STEM (Science Technology Engineering Math) degrees are tougher to get, but the long term payoff is terrific. Parents, please encourage your children to pursue STEM degrees.
