Hiring opportunities may be on the rise, but starting salaries for 2010 graduates are down. According to a recent National Association of Colleges and Employers (NACE) survey, starting salary offers to the class of 2010 are down compared to this time last year. The average starting salary offered for the bachelor degree recipient dropped 1.7 percent from $48,515 to $47,673.
For example, while finance and accounting graduate salaries rose slightly, business administration and management majors met a decrease of 8 percent to $42,094.
One profession however, dominates the market: engineering. Engineering majors control the board of top-paid bachelor’s degrees, with the other two spots reserved for computer and information sciences. NACE’s Winter 2010 Salary Survey shows that engineering disciplines account for 8 of the 10 most highly paid starting salaries. Earning almost double the average starting salary, petroleum majors saw an average of $86,220.
According to NACE executive director Marilyn Mackes, the salaries chalk up to demand: new graduates with degrees in the technical fields tend to benefit from their relatively low supply. Petroleum engineering degrees, for example, account for less than 1 percent of all bachelor degrees conferred.
On average, engineering starting salaries increased by 1.2 percent to $59,149. Chemical engineers and civil engineers rose up by a little more than 1 percent, with starting salaries at $66,437 and $52,443 respectively. Within the field, electrical engineering graduates saw the largest increase of3 percent to $59,326.
Amidst the good news for some, liberal arts college students were hit the hardest. Not only are they generally not in demand like those with technical degrees, but their starting salary dipped 8.9 percent this year to $33,540.
This post was written by Annie Kohanek, Come Recommended’s editorial content intern.
