More Depressing News For Grads (Unless You're An Engineer)

Posted by: Lindsey Gerdes on September 11

The National Association of Colleges and Employers (NACE) has some depressing news for 2009 grads. Apparently, their salaries are down 1.2% from last year, according to data from career services offices nationwide.

This doesn’t seem particularly substantial until you consider the fact that the norm is at least a slight increase year over year and decreases are almost unheard of. In 2008, for instance, salaries actually increased 7.6% over 2007 grads’ pay. Furthermore, less than 20% of grads had a job at the time of graduation.

One bright spot? Average starting salaries for engineering grads actually increased 4.2% to $59,670 in 2009. Freshmen and sophomores, it may not be too late to change your major..

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Read daily reports and special features from BusinessWeek editors and reporters Lindsey Gerdes and Louis Lavelle about companies, careers, and other topics of interest to young professionals.

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