Is the trend of falling real wages for college grads finally about to reverse? A new survey from the National Association of Colleges and Employers says that this is looking like a strong labor market for college hiring:
The job prospects for new college graduates look encouraging as employers recently said they plan to hire 14.5 percent more new college grads in 2005-06 than they hired in 2004-05. But the increased number of jobs available isn't the only good news for these students; they can also expect to see higher starting salary offers....
In the business disciplines, accounting graduates were among those that posted a better-than-modest increase: Their average offer now stands at $45,723, a 6.2 percent increase. But this increase pales in comparison to the increase posted by economics/finance graduates, who posted a spectacular 11 percent increase in their average starting salary offer, which now averages $45,191.
The average salary to liberal arts majors as a group is up a healthy 6.1 percent over last year and stands at $30,828.
Some fields did worse than last year, including marketing, computer science, and mechanical engineering. Still, the overall impression
is that things may be finally looking up