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Starting Salary Offers to College Class of 2010 Decline
CONTACT Andrea Koncz, ext. 121, or Pattie Giordani, ext. 118, 800.544.5272
E-MAIL akoncz@naceweb.org
E-MAIL pgiordani@naceweb.org
DATE April 08, 2010
SUBJECT Starting Salary Offers to College Class of 2010 Decline
BETHLEHEM, PA—Starting salary offers to the college Class of 2010 are down compared to last year at this time, according to a new report from the National Association of Colleges and Employers (NACE).
The Spring 2010 issue of NACE’s Salary Survey shows the overall average salary offer to a bachelor’s degree candidate is $47,673, which is 1.7 percent lower than the average offer of $48,515 made to Class of 2009 bachelor’s degree candidates.
Although the overall average salary offer is down, some disciplines did see increases.
For example, in the business disciplines, both finance and accounting majors saw their average salary offers rise. The average offer to finance majors rose by 1.6 percent to $50,546, and the average offer to accounting majors inched up by 0.4 percent to $48,575.
On the other hand, business administration/management grads saw their average offer fall 8 percent to $42,094. Marketing graduates’ average salary offer also fell, but not as far, to $42,710, down 2.1 percent from last year.
As a group, graduates earning computer-related degrees saw their average salary offer soar in comparison to the other disciplines: Their average offer rose 5.8 percent to $58,746. And, the average offer to computer science majors increased by 4.7 percent, bringing it to $60,426.
As a group, engineering graduates saw their average salary offer increase by 1.2 percent to $59,149. Electrical engineering grads saw the largest increase of the engineering disciplines. Their average offer rose by 3 percent to $59,326. Chemical engineering graduates’ average offer is up 1.6 percent to $66,437, and civil engineering grads saw a similar increase—1.3 percent—bringing their average offer to $52,443.
Computer engineering grads, however, saw their average offer move up just a scant 0.2 percent to $61,121. Mechanical engineering graduates also saw a 0.2 percent increase, bringing their average salary offer to $58,881.
Graduates earning liberal arts degrees may be the hardest hit by the effects of the recession: Currently, their average salary offers remain well below last year’s levels—8.9 percent lower at $33,540.
NACE will continue to track the movement of starting salary offers to Class of 2010 graduates in the upcoming issues of Salary Survey. The Summer 2010 issue will be published in early July, and the year-end, Fall issue will be released in September 2010. Employers’ final hiring projections will also be published this spring in the Job Outlook 2010 Spring Update Survey.
About Salary Survey:Salary Survey is a quarterly report of starting salary offers to new college graduates in 70 disciplines at the bachelor's degree level. The survey compiles data from college and university career services offices nationwide. Salary Survey is issued in Winter, Spring, Summer, and Fall, with the Fall issue serving as the year-end report. (Salaries reported in this press release reflect offers to bachelor’s degree candidates.)
About NACE: Since 1956, the National Association of Colleges and Employers (NACE) has been the leading source of information about the employment of college graduates. For more information, visit www.naceweb.org. NACE maintains a virtual press room for the media at www.naceweb.org/pressreleases/.
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