Salaries Strong for Recent Business Grads

Posted by: Geoff Gloeckler on July 6, 2010

Finding a job for recent college graduates is getting easier, according to the 2010 Sales Compensation Survey of College Graduates and Interns. Of the more than 80 organizations polled, 70 percent say they will either be hiring the same number or more employees than last year. But how much will new hires with business degrees make?

Based on the survey’s findings, business students should fare pretty well. For MBA’s, average starting salaries were around $66,000, with average signing bonuses of just under $8,000 and an average annual bonus of about $7,000. Recent grads with a bachelor’s degree in business, finance, and math earned average starting salaries of about $45,000, with bonus packages worth about $7,000, second highest in the study only to engineering/science/architecture grads, who averaged $53,000. Not surprisingly, pay for business students varied depending on location, with business grads going to work in the northeast earning 17 percent more than those accepting positions in the south.

For internships, salaries in business fields range from as low at $8.50 to as high nearly $30 per hour, depending primarily on the year of the student. But the greatest incentive for interning is the potential for it to turn into a job. This year, nearly 90 percent of corporate respondents plan to offer interns full-time jobs compared to only 60 percent in 2008.

The study, conducted by consulting firm Compensation Resources, Inc., focuses on salary statistics as well as recruiting and hiring trends for new and recent college graduates and interns. Data was collected between March and April from an almost even split of privately held and public companies across the nation. Nearly half of the participants are based out of the Northeast, and about 40 percent report more than $1 billion in revenue.

-By Sommer Saadi

Reader Comments

MBA2011

July 7, 2010 10:33 AM

The MBA salary figures seem a little low but I totally agree that the job market is picking up. It is about time businessweek stopped painting a ultra-grim picture.

Jerry

July 19, 2010 3:04 PM

Yeah, these numbers are low to me. My current company offers $50k to start, more or less the standard for starting off in the DC area. I just took a new spot for 90k and still have two more semesters of my part time program. I was making 66k 3 years out of undergrad.

Taking a 66k after b school is kind of a slap in the face. Then again, I guess it depends on where you go.

Meridian Hutchins

July 20, 2010 9:38 PM

They really need to take cost of living into account here. The South has lower salaries, but adjusted for cost of living and taxes, its a far better compensation than the Northeast.

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