Thursday, July 03, 2008
Tweet[IWS] NACE: 7.1% INCREASE for CLASS of 2008 AVERAGE SALARY [1 July 2008]
IWS Documented News Service
_______________________________
Institute for Workplace Studies----------------- Professor Samuel B. Bacharach
School of Industrial & Labor Relations-------- Director, Institute for Workplace Studies
Cornell University
16 East 34th Street, 4th floor---------------------- Stuart Basefsky
New York, NY 10016 -------------------------------Director, IWS News Bureau
________________________________________________________________________
National Association of Colleges and Employers (NACE)
Press Release July 01, 2008
Study Shows 7.1 Percent Increase in Average Starting Salary Offer for Class of 2008
http://www.naceweb.org/press/display.asp?year=2008&prid=286
BETHLEHEM, PADespite a less-than-robust economy, the overall average starting salary offer to new college graduates, regardless of major, increased by 7.1 percent over last year, according to a new report from the < http://www.naceweb.org> National Association of Colleges and Employers (NACE).
The Summer 2008 issue of NACE's Salary Survey shows that, in general, average starting salary offers to 2007-2008 bachelor's degree graduates are on the rise.
"The continued economic downturn and results from the Spring 2008 issue of Salary Survey suggested salary increases to new college graduates might be leveling off," says Marilyn Mackes, NACE executive director. "However, the current report shows that salaries continue to rise in many disciplinesincluding some that appeared flat in the spring."
For example, the average salary offer to business disciplines increased by 4 percent over last year at this time, but the < http://www.naceweb.org/press/display.asp?year=2008&prid=281> Spring 2008 report showed just a 1.6 percent increase.
In terms of specific majors, accounting graduates received a 2.9 percent increase to their average offer, raising it to $48,085a significant change from the Spring report when no increase was reported for these grads.
Business administration/management grads fared well, posting a 5.1 percent increase for an average offer of $45,915. Economics majors saw a healthy increase of 4.2 percent, for an average offer of $50,507. Finance grads' average offer of $48,547 was a 2.8 increase over last year, and the average offer to marketing graduates rose 4.7 percent to $42,053.
Salary offers to computer science graduates rocketed up 13.1 percent over last year to an average of $60,416. Conversely, information sciences and systems graduates saw a modest 3.1 percent increase, bringing their average offer to $52,418.
The average offer to chemical engineering graduates rose 6.4 percent to $63,165. Not surprisingly, many offers to these grads came from petroleum and coal products manufacturers, which offered an average salary of $71,976.
Civil engineering graduates also posted a 6.4 percent increase, bringing their average offer to $51,632. Mechanical engineering grads received a healthy 5.3 percent increase, boosting their average offer to $57,009. The offer to electrical engineering graduates rose a modest 2.9 percent, bringing their offer to $56,910.
Liberal arts graduates also saw rising salaries. As a group, their average offer rose from $32,348, as reported in the Summer 2007 Salary Survey, to $36,419 in this issuea 12.6 percent increase. It is interesting to note that this increase is consistent with results posted for liberal arts grads throughout the 2007-08 year: The < http://www.naceweb.org/press/display.asp?year=2008&prid=275> Winter 2008 Salary Survey< http://www.naceweb.org/press/display.asp?year=2008&prid=275> showed a 9 percent increase, while the < http://www.naceweb.org/press/display.asp?year=2008&prid=281> Spring 2008 report showed a 12.9 percent increase over the Spring 2007 report.
NACE will publish the final salary report for the Class of 2008 in September. NACE will offer a first glance at the hiring outlook for the Class of 2009 with the Job Outlook 2009 Fall Preview, slated for release later this summer.
About Salary Survey: < http://www.naceweb.org/info_public/salaries.htm> Salary Survey < http://www.naceweb.org/info_public/salaries.htm> 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.)
______________________________
This information is provided to subscribers, friends, faculty, students and alumni of the School of Industrial & Labor Relations (ILR). It is a service of the Institute for Workplace Studies (IWS) in New York City. Stuart Basefsky is responsible for the selection of the contents which is intended to keep researchers, companies, workers, and governments aware of the latest information related to ILR disciplines as it becomes available for the purposes of research, understanding and debate. The content does not reflect the opinions or positions of Cornell University, the School of Industrial & Labor Relations, or that of Mr. Basefsky and should not be construed as such. The service is unique in that it provides the original source documentation, via links, behind the news and research of the day. Use of the information provided is unrestricted. However, it is requested that users acknowledge that the information was found via the IWS Documented News Service.
Stuart Basefsky
Director, IWS News Bureau
Institute for Workplace Studies
Cornell/ILR School
16 E. 34th Street, 4th Floor
New York, NY 10016
Telephone: (607) 255-2703
Fax: (607) 255-9641
E-mail: smb6@cornell.edu
****************************************
_______________________________
Institute for Workplace Studies----------------- Professor Samuel B. Bacharach
School of Industrial & Labor Relations-------- Director, Institute for Workplace Studies
Cornell University
16 East 34th Street, 4th floor---------------------- Stuart Basefsky
New York, NY 10016 -------------------------------Director, IWS News Bureau
________________________________________________________________________
National Association of Colleges and Employers (NACE)
Press Release July 01, 2008
Study Shows 7.1 Percent Increase in Average Starting Salary Offer for Class of 2008
http://www.naceweb.org/press/display.asp?year=2008&prid=286
BETHLEHEM, PADespite a less-than-robust economy, the overall average starting salary offer to new college graduates, regardless of major, increased by 7.1 percent over last year, according to a new report from the < http://www.naceweb.org> National Association of Colleges and Employers (NACE).
The Summer 2008 issue of NACE's Salary Survey shows that, in general, average starting salary offers to 2007-2008 bachelor's degree graduates are on the rise.
"The continued economic downturn and results from the Spring 2008 issue of Salary Survey suggested salary increases to new college graduates might be leveling off," says Marilyn Mackes, NACE executive director. "However, the current report shows that salaries continue to rise in many disciplinesincluding some that appeared flat in the spring."
For example, the average salary offer to business disciplines increased by 4 percent over last year at this time, but the < http://www.naceweb.org/press/display.asp?year=2008&prid=281> Spring 2008 report showed just a 1.6 percent increase.
In terms of specific majors, accounting graduates received a 2.9 percent increase to their average offer, raising it to $48,085a significant change from the Spring report when no increase was reported for these grads.
Business administration/management grads fared well, posting a 5.1 percent increase for an average offer of $45,915. Economics majors saw a healthy increase of 4.2 percent, for an average offer of $50,507. Finance grads' average offer of $48,547 was a 2.8 increase over last year, and the average offer to marketing graduates rose 4.7 percent to $42,053.
Salary offers to computer science graduates rocketed up 13.1 percent over last year to an average of $60,416. Conversely, information sciences and systems graduates saw a modest 3.1 percent increase, bringing their average offer to $52,418.
The average offer to chemical engineering graduates rose 6.4 percent to $63,165. Not surprisingly, many offers to these grads came from petroleum and coal products manufacturers, which offered an average salary of $71,976.
Civil engineering graduates also posted a 6.4 percent increase, bringing their average offer to $51,632. Mechanical engineering grads received a healthy 5.3 percent increase, boosting their average offer to $57,009. The offer to electrical engineering graduates rose a modest 2.9 percent, bringing their offer to $56,910.
Liberal arts graduates also saw rising salaries. As a group, their average offer rose from $32,348, as reported in the Summer 2007 Salary Survey, to $36,419 in this issuea 12.6 percent increase. It is interesting to note that this increase is consistent with results posted for liberal arts grads throughout the 2007-08 year: The < http://www.naceweb.org/press/display.asp?year=2008&prid=275> Winter 2008 Salary Survey< http://www.naceweb.org/press/display.asp?year=2008&prid=275> showed a 9 percent increase, while the < http://www.naceweb.org/press/display.asp?year=2008&prid=281> Spring 2008 report showed a 12.9 percent increase over the Spring 2007 report.
NACE will publish the final salary report for the Class of 2008 in September. NACE will offer a first glance at the hiring outlook for the Class of 2009 with the Job Outlook 2009 Fall Preview, slated for release later this summer.
About Salary Survey: < http://www.naceweb.org/info_public/salaries.htm> Salary Survey < http://www.naceweb.org/info_public/salaries.htm> 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.)
______________________________
This information is provided to subscribers, friends, faculty, students and alumni of the School of Industrial & Labor Relations (ILR). It is a service of the Institute for Workplace Studies (IWS) in New York City. Stuart Basefsky is responsible for the selection of the contents which is intended to keep researchers, companies, workers, and governments aware of the latest information related to ILR disciplines as it becomes available for the purposes of research, understanding and debate. The content does not reflect the opinions or positions of Cornell University, the School of Industrial & Labor Relations, or that of Mr. Basefsky and should not be construed as such. The service is unique in that it provides the original source documentation, via links, behind the news and research of the day. Use of the information provided is unrestricted. However, it is requested that users acknowledge that the information was found via the IWS Documented News Service.
Stuart Basefsky
Director, IWS News Bureau
Institute for Workplace Studies
Cornell/ILR School
16 E. 34th Street, 4th Floor
New York, NY 10016
Telephone: (607) 255-2703
Fax: (607) 255-9641
E-mail: smb6@cornell.edu
****************************************
# posted by SBasefsky : 3:48 PM
