From the News You Can Use Archives 05/07/07

New Graduate Salaries
Show a Modest Rise
By Ian Crawford, Web Communications Editor

Most disciplines are reporting an increase in the starting salaries of graduates, according to the latest National Association of Colleges and Employers (NACE) salary survey.

Engineering disciplines offer the highest average starting salaries (see Table 1 below). Chemical, computer, electrical and mechanical engineering lead the field with economics and computer science close behind, all offering starting salaries in the $50,000s.

In the high $40,000s are finance, civil engineering, accounting and information sciences.

With an average starting salary in the low $40,000 range are business administration and marketing.

At the bottom of the list are liberal arts graduates, earning just above $30,000 in their first year.

Table 1 - Disciplines in Order of Average Starting Salary^*1

		Average Starting Salary
	Chemical Engineering	$59,707
	Computer Engineering	$55,946
	Electrical Engineering	$54,915
	Mechanical Engineering	$54,695
	Economics	$53,449
	Computer Science	$52,177
	Finance	$47,877
	Civil Engineering	$47,750
	Accounting	$47,421
	Information Sciences	$46,966
	Business Administration	$44,048
	Marketing	$41,285
	Liberal Arts*	$31,333

* as a group

"This report supports the positive hiring outlook we've projected for this year's class of graduates, as increases in average starting salary offers typically signal increased demand," says Marilyn Mackes, NACE executive director.

Back in the fall of last year, NACE projected a 17.4 percent increase in college hiring in 2006-2007 compared to 2005-2006.

Marketing graduates appear to be in highest demand; their average starting salary rose 10.3 percent over the last year (see Table 2 below). Their colleagues in business administration also experienced a 7.5 percent rise, both reflecting the good health of the business sector.

However, liberal arts graduates only were offered a mere 1.2 percent more than last year, which is less than the Consumer Price Index increase of 2.8 percent in the year to March 2007^*2.

Table 2 - Disciplines in Order of Change of Average Starting Salary from Previous Year^*1

		Change from Previous Year
	Marketing	Up 10.3 percent
	Business Administration	Up 7.5 percent
	Mechanical Engineering	Up 5.7 percent
	Chemical Engineering	Up 5.6 percent
	Information Sciences	Up 4.9 percent
	Civil Engineering	Up 4.8 percent
	Computer Engineering	Up 3.2 percent
	Accounting	Up 2.7 percent
	Computer Science	Up 2.5 percent
	Electrical Engineering	Up 1.6 percent
	Liberal Arts*	Up 1.2 percent
	Economics	Not Available
	Finance	Not Available

* as a group

^*1 Source: NACE Spring Salary Survey

^*2 Source: U.S. Department of Labor, Bureau of Labor Statistics

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Story posted May 7, 2007.

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