Increased Income for College Graduates: Class of 2007
In a column earlier this year, I examined some of the average college grad income predictions made by the National Association of Colleges and Employers (NACE). So how has the class of 2007 actually done in the “real world?” Well, NACE recently issued its most recent and final 2007 Salary Survey which shows an increased Income for college graduates in many fields.
Not surprisingly, there was increased income for college graduates in accounting. Number crunching continues to pay well; the average accounting job for college graduates gained 3%, with an average starting salary of $46,292. Business administration and management grads saw a 5.1% bump; their average salary, right out of the gate, was $43,256.
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College Graduates Managing Money
The NACE report had good news for college graduates managing money. Economics (business/managerial) majors had average salary offers of $47,782 while their monetary brethren, the finance graduates, took in a median salary of $46,442. Management information systems majors saw a 4.7% increase, bringing their average pay to $47,407.
Marketing Jobs for College Graduates
Marketing jobs for college graduates showed nice returns as well. Marketing majors saw a nice boost of 5.6%, pushing their average salary up to $39,269. Computer science grads crossed the 50K threshold with an average salary of $53,051, while their geeky relatives, information sciences and systems graduates, saw a salary increase of 5.9%; their average offer was $49,966.
What Employers Want in College Graduates: Engineering Skills
“You can’t go wrong being an engineer,” my great uncle used to tell me. Apparently he was right. Salary offers to chemical engineers rose 5.2% to $59,218 and civil engineering grads got a 6.3% increase, bringing their salary to $48,998. Electrical engineering grads received an average offer of $55,333, while mechanical engineering grads watched their salary rise by 4.3% to $54,057.
Jobs for College Graduates with One Year of Experience
What about liberal arts graduates? Relax mom and dad, history majors charted a 6.1% increase to $35,092. Political science grads popped up 6.5% to $35,261. Even English majors saw an increase of 1.7%, inching their average offer to $31,924, while sociology grads’ salaries went up by 3.4% to $32,161. No word on theater majors, but perhaps we’ll cover temping in a future column (just kidding folks).
How does your salary compare to increased income for college graduates? Is it time for you to go back to school? The PayScale Salary Calculator is a quick and easy way to compare positions. When you want powerful salary data and comparisons customized for your exact position, be sure to build a complete profile by taking PayScale’s full salary survey.
Dr. Al Lee