New College Grads Find Business A Bit FriendlierGene Koretz
Despite manufacturers' cautious attitudes, there's finally some good news for new college grads. For the first time in five years, Michigan State University's Collegiate Employment Research Institute reports that its annual nationwide survey of employers shows a rise in hiring intentions. While the pickup in the current 1993-94 academic year is a mere 1.1%, it follows a cumulative decline of 35% over four years.
Overall, the outlook is decidedly mixed. The auto industry, banking and finance, hotels, and aerospace all plan to boost hiring by at least 25%, but hiring by government and many other industries remains depressed. Starting salaries, projected to rise a modest 0.4% to 1.6%, continue to decline in real terms. The dollar range for bachelor's degree grads runs from a low of $20,500 for journalism majors to a high of $40,341 for chemical engineers. For MBAs, the average starting salary is projected at $37,530.