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Posted by: Michael Mandel on February 15
Is the trend of falling real wages for college grads finally about to reverse? A new survey from the National Association of Colleges and Employers says that this is looking like a strong labor market for college hiring:
The job prospects for new college graduates look encouraging as employers recently said they plan to hire 14.5 percent more new college grads in 2005-06 than they hired in 2004-05. But the increased number of jobs available isn’t the only good news for these students; they can also expect to see higher starting salary offers….
In the business disciplines, accounting graduates were among those that posted a better-than-modest increase: Their average offer now stands at $45,723, a 6.2 percent increase. But this increase pales in comparison to the increase posted by economics/finance graduates, who posted a spectacular 11 percent increase in their average starting salary offer, which now averages $45,191.
The average salary to liberal arts majors as a group is up a healthy 6.1 percent over last year and stands at $30,828.
Some fields did worse than last year, including marketing, computer science, and mechanical engineering. Still, the overall impression
is that things may be finally looking up
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.