The average college grad income for 2007 graduates is looking bright, according to a recent article by the Wall Street Journal. The financial bible cites a new survey released by the National Association of Colleges and Employers (NACE) which says the average college grad income is predicted to increase by 4.6%. In another survey by NACE, college recruiting is intensifying, so much so that businesses will reportedly be hiring 17% more graduates from 2007 than in the previous year.
Leading the pack of recruiters is the accounting and consulting firm Deloitte & Touche. According to Diane Borhani, head of U.S. campus recruiting, the firm is recruiting college grads, lots of them, close to 3,300 seniors, up from less than 3,100 in 2006. As part of its college grad job search, the firm has raised starting salaries and that dangling carrot known as the signing bonus. Borhani says that U.S. starting salaries (base) have increased around 5%, boosting the average college grad income to the 60K range – in certain jobs for recent college grads.
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