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Posted by: Michael Mandel on September 15
Yesterday the National Association of Colleges and Employers (NACE) released their final salary report for the College Class of 2005, listing the average starting salary offers to new grads, by major.
Just for fun, I decided to compare these numbers with what new grads were getting in 2001, just as the bust was gathering speed. My source was the comparable NACE press release in fall of 2001 (located here).
And then I adjusted for inflation. Here’s what I found:
Everything is negative of course. The biggest declines came in the computer-related majors—no surprise there. And the relatively strong performance of accounting (the bottom bar, somewhat obscured) is no surprise either.
But why should psychology have nose-dived so completely? And why is sociology doing relatively better? Inquiring minds want to know.
Michael Mandel, BW's award-winning chief economist, provides his unique perspective on the hot economic issues of the day. From globalization to the future of work to the ups and downs of the financial markets, Mandel-named 2006 economic journalist of the year by the World Leadership Forum-offers cutting edge analysis and commentary.