NACE releases its Job Outlook 2009 Spring Update today, which shows employers plan to hire 22 percent fewer new college grads from the Class of 2009 than they hired from the Class of 2008.
These new projections override those made back in the fall, when employers reported plans to hold their college hiring at last year’s levels. More than two-thirds said they have adjusted their plans due to the econmy, with most pushing hiring downward.
This latest Job Outlook report ends a string of positive hiring reports for new college graduates dating back to 2004. Students graduating in the early part of the Millennium experienced significant drops at the hands of the dot.com bust and the terrorist attacks of September 11, 2001. Hiring fell off 36 percent for the Class of 2002 but steadied for the Class of 2003 before rebounding in 2004.
Additional data from the Job Outlook 2009 Spring Update report is available through the March 4 issue of NACE’s Spotlight Online newsletter.
Showing posts with label job market. Show all posts
Showing posts with label job market. Show all posts
Wednesday, March 4, 2009
Friday, January 30, 2009
Class of 2009 Salaries Are Flat
NACE’s Winter 2009 Salary Survey report shows that starting salary offers to the college Class of 2009 are flat, with average offers hovering at or near those for the Class of 2008. (See http://www.naceweb.org/salarysurvey/sscover0109.htm .)
The “norm” over the past several years has been for average salaries to new college graduates to increase each year. In fact, the average offer to a bachelor’s degree grad from the Class of 2008 was 4 percent higher than the average offer to the same type of grad from the Class of 2007. The average offer to the Class of 2009 grad, however, shows virtually no movement.
That “flatness” can be seen within specific disciplines, too. Even degrees deemed “in demand” by employers are seeing little in the way of salary increases. Consider the case of computer science grads: Last year at this time, as a group, grads earning degrees in the computer science disciplines saw their average increase 8 percent over the previous year. This year, these “in demand” grads are averaging slightly less than they did a year ago.
Some perspective: This is NACE’s first salary report for the Class of 2009, and the offers reported at this time represent just a small portion of what we can expect for this year’s grads.
The “norm” over the past several years has been for average salaries to new college graduates to increase each year. In fact, the average offer to a bachelor’s degree grad from the Class of 2008 was 4 percent higher than the average offer to the same type of grad from the Class of 2007. The average offer to the Class of 2009 grad, however, shows virtually no movement.
That “flatness” can be seen within specific disciplines, too. Even degrees deemed “in demand” by employers are seeing little in the way of salary increases. Consider the case of computer science grads: Last year at this time, as a group, grads earning degrees in the computer science disciplines saw their average increase 8 percent over the previous year. This year, these “in demand” grads are averaging slightly less than they did a year ago.
Some perspective: This is NACE’s first salary report for the Class of 2009, and the offers reported at this time represent just a small portion of what we can expect for this year’s grads.
Subscribe to:
Comments (Atom)