Job market looks healthy for grads

For the first time in a long time, there is good news for graduating seniors -- the job market is improving, and is predicted to continue to pick up over the next couple of years. Not only are companies increasing the number of college graduate hires, starting salaries for college graduates are on the rise.

During the recession and jobless recovery of the past few years, college graduates were hit particularly hard. While companies had hired college graduates in tremendous rates during the internet bubble, this was also the first place they made cutbacks during the downturn.

The tide is finally starting to turn as more companies are actively recruiting on college campuses, and college graduates are often getting to pick and choose among various offers of employment.

According to the National Association of Colleges and Employers, a nonprofit group based in Bethlehem Pa., employers are projecting that they will hire 14.5 percent more college graduates from the 2005-2006 class than they did in the previous year. This is according to a recent report by the association that polled employers nationally.

Marilyn Mackes, the director of the National Association of Colleges and Employers said, "We have seen positive movement in the job market for new college graduates over the past few years, and this report reinforces that college hiring is moving in the right direction. In fact, this is the third consecutive year in which employers have projected hiring increases."

The main reasons for the hiring increase are widespread growth and higher attrition rates at companies. As baby boomers begin to retire, companies must fill the spaces they leave with new employees. This is certainly positive for any one who may be looking for jobs over the next couple of years as more and more baby boomers reach retirement age.

Also, according to Hackes, "Overall, starting salary offers rose consistently over this past academic year, with the majority of disciplines reporting higher increases this year than they did last year."

Graduates of areas that are offering the largest increases to college graduates include business, accounting and civil engineering. The starting salary of a marketing graduate rose by 4.9 percent over the last year to $36,409. Accounting graduates saw a 4.6 percent increase, bringing their average starting salary to $42,940. Civil engineering graduates had a raise of 4.1 percent, bringing the average starting offer to those in that discipline to $43,774.

Fields with already high starting salary offers, like computer engineering, chemical engineering and science, saw smaller salary gains over the last year, but have already high starting salaries, typically pushing $50,000. Liberal arts graduates aren't fairing badly either, as graduates in the liberal arts saw a 10.1 percent increase in starting salary offers. Majors that are in particular demand include pychology and sociology.

Employers in 2005 continued to favor those with specific skills in an industry rather than those with a more wide spread liberal arts background. The five most in demand majors were accounting, electrical engineering, mechanical engineering, business administration and management, and economics and finance.

That being said, it isn't that those with a liberal arts background, say in English or Art History, aren't being hired; they simply aren't being actively recruited and courted by companies in the same way that business and engineering students are. While this may require those in the School of Arts and Sciences be more proactive than their peers in the School of Engineering, there are still jobs out there in an array of fields.

While the outlook is certainly good for college graduates, the impact that Hurricane Katrina, high gas prices and rising interest rates will have on hiring is still relatively unknown.

Still, most indicators point to this being a good time for college graduates to find jobs. So put aside any worry of hiring cutbacks and pay freezes, and feel entitled to be choosy about where you look for and accept a job. It is, after all, your career.