Posted by: Alison Damast on July 8, 2010
Just when you thought things couldn’t get worse for recent college graduates, here comes another blow for those fresh to the job market. We wrote an item on our blog a few days ago about how starting salaries are continuing to fall in many fields for college graduates. Today, the National Association of Colleges and Employers (NACE) released additional salary data that gives a more complete picture of the overall hiring climate for undergraduates. The average starting salary has slipped 1.3% compared to last year at this time, according to the NACE report. The NACE data is based on more than 9,000 job offers reported by 108 colleges and universities.
It is the second year in a row that those straight out of college have seen starting salaries decline. Back in 2009, a freshly minted graduate was being offered $49,307, while this year’s figure holds at $48,661, a $646 decline.
Among the business disciplines, business administration graduates’ average salary offer dropped the most, sinking 2.4 percent to $43,879. The reason for the decline? Many of these graduates are most likely being offered sales and management trainee jobs, both of which have average starting salaries below $40,000, NACE speculates in its press release. Other salary data for business graduates can be found in our earlier blog post.
For a more comprehensive look at salary data in different fields, check out the NACE
data, which details starting offers in other academic areas.