by Gina LaGuardia
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Decision-makers from human resource departments across the country weighed in on the top 10 jobs most offered this year in the National Association of Colleges & Employers (NACE) Spring 2005 Salary Survey, and the outlook is bright. Not only has hiring increased 13.1 percent since last spring, but salary offers to new college gradates are also on the upswing.
"Employers tell us that the economy is improving, and likewise, more positions are open for new college graduates," explains Andrea J. Koncz, NACE's Employment Information Manager. Majors topping the list also boast significant annual earnings boosts --accounting ($44,564), management trainee ($35,811), software design & development ($53,729), and design/construction engineering ($47,048).
Top 10 Jobs for 2004-05 Graduates
Job FunctionAverage Salary Offer Accounting (Private)$44,564 Management Trainee (Entry-Level Mgmt.)$35,811 Teaching$29,733 Consulting$49,781 Sales$37,130 Accounting (Public)$41,039 Financial/Treasury Analysis$45,596 Financial/Treasury Analysis$45,596 Software Design & Development$53,729 Design/Construction Engineering$47,058 Registered Nurse$38,775
Source: Spring 2005 Salary Survey, National Association of Colleges and Employers.
All data is for bachelor's degree candidates. Rankings are based on number of offers reported.
Accounting Is Hot
Number one and in-demand -- not what one usually associates with the field of accounting, however, in light of recent legislation and high-profile corporate scandal, accounting is hot. Dale Austin, the director of the Office of Career Services at Hope College (Holland, Mich.), explains: "Corporations are required to implement more controls to address fraud issues and potential misstatements, and so both private sector accounting and the public accounting (auditing) of that process have noticed increases in demand that could continue for several years," he says.
And it's not only Big Four accounting firms that are experiencing a hiring boom, adds Tom Ward, Jr., corporate relations manager at the Career Center of St. John's University (Queens, N.Y.). Both large and small companies require accurate bookkeeping and compliance, he says. "Even mom-and-pop shops are being vigilant in terms of accounting." What's desired across the board, he points out, is not only a strong knowledge of finance, but people skills as well.
"You need the right type of personality to say 'let me see your books,' and balance those political and interpersonal skills with foundational knowledge," Ward explains.
A Business Boost
The business disciplines fared especially well, according to NACE findings. Marketing rebounded from a 0.4 percent decrease in salary offers last year, to a six percent salary hike this year ($37,832).
Following close behind are economics/finance graduates, with average starting salaries of $42,802 -- a 5.1 percent jump. Business administration/management grads are seeing a 3.2 percent earnings spike to $39,448.
Also booming within the management sector are leadership positions within retail banking, adds Ward. "Professionals with management training, people skills, and also financial knowledge are needed to staff these branches."
Engineers Merge Earnings With Endeavors
Engineers consistently garner high earnings, as evidenced in healthy salary increases NACE reports across various specializations. Interestingly enough, explains Rolf B. Gruen, general manager of the Seattle office of Lee Hecht Harrison, a national leadership consulting firm, many are attracted to engineering jobs within the public works sector not only because of its salary rankings, but its conduciveness to life choice desires. "Engineering is often not a job that people come to right out of college, but see more in mid-career that there is value there, and that it fits into work-life issues," he says. Such professionals find that working toward their passion works well for them, and also translates into a healthy paycheck.
Mechanical engineering grads' earnings are up -- 4.1 percent -- raising their average annual salaries to $51,046; new civil engineers see similar growth, with an average offer of $43,463, up 4 percent since 2004; newly hired electrical engineers posted a 2.5 percent increase to their average starting salaries, to $52,009. Those seeking chemical engineering positions saw the highest hike -- 4.3 percent -- with average offers at $54,256.
Digital Dollars
We're nowhere near the dot-com gold rush, say experts, but for many information technology (IT) graduates, this year's NACE findings and similar projections are cause for a positive professional outlook. Although computer science majors garnered a modest 2.6 percent increase, with starting salaries around $51,292, a large number of software design and development positions were offered to these graduates at an approximate $55,108 offer, significantly above the average.
Additionally, according to the Bureau of Labor Statistics, computer systems analysts, database administrators, and computer scientists are expected to be among the fastest growing occupations through 2012. "Employment of these computer specialists is expected to grow much faster than the average for all occupations as organizations continue to adopt and integrate increasingly sophisticated technologies," states the current edition of the Occupational Outlook Handbook.
'Jack of All Trades, Master of Many'
Thanks to NACE findings that salary offers extended to liberal arts graduates are up 4.2 percent from last year, to an average $30,337, some students are finally able to settle the age-old debate: "What can you do with a liberal arts degree?"
Such growth and recognition is significant, explains Trudy Steinfeld, executive director of New York University's Office of Career Services, particularly because of the high number of career changes professionals make in their lifetimes, oftentimes across professional disciplines. "Liberal arts students are prepared to take on anything," she asserts. Couple that with the fact that the top two skills most desired by employers are strong communication and written skills -- ones honed in liberal arts programs -- and it's clear to see how such grads have an advantage, Steinfeld adds.
Austin agrees. "A number of studies have documented the long-term value of a liberal arts education within corporations. In addition to well-developed written and verbal/oral communication skills, he says, "such grads are often able to bring to the table effective analytical and problem solving skills that other graduates may not."
For the Betterment of Others
The National Association of Colleges and Employers isn't the only one extolling the allure and demand of professions within education and health care. According to the latest projections from the U.S. Bureau of Labor Statistics, more than one million new and replacement nurses -- growth of about 30 percent -- will be needed by 2012. And education continually follows a close second (behind health care) in the list of fastest growing careers.
In addition to professions like teaching and nursing (No. 2 and No. 10 on the NACE rankings, respectively), service-oriented fields will continue to be on the ascent, says Steinfeld.
"Allied health careers and nursing are huge, as well as anything within the United States service sector -- across the gamut," she adds, emphasizing that such opportunities exist in areas like hospitality, sales, tourism, etc.
It May Be Popular, But Can You Land the Job?
Of course, competition is still high, which is why job seekers need to work hard to land that job -- whether it's in a top 10 field or not. "We're nowhere near where we were before 9/11," adds Koncz. "Back then we had employers going on spring break handing out business cards."
Although careers service representatives' phones are ringing -- 50 percent of this spring's graduating class at NYU has already secured positions, says Steinfeld -- there is still a need for graduates to aggressively market their skills and workforce value.
Experts advise prospects to distinguish themselves by being good listeners, communicators, writers, and problem-solvers. It's important to also understand how to collaborate smarts with supporting skills, including leadership ability, computer knowledge, and a team-player attitude.
"Being a good follower -- as well as a good leader -- with honesty, integrity, strong work ethic, detail-oriented, and the ability to multi-task, are qualities that make graduates suitable for most positions," says Doug Hamilton, director of career counseling at Birmingham-Southern College in Birmingham, Ala.
Suitability starts with understanding a company's purpose and mission, something Koncz can't seem to stress enough. "Employers tell us that students need to research the company, know something about it," she says. "With all the resources available on the Internet and within career services [departments], job seekers should know what they are looking for."
The ultimate element, says Sue Morem, author of '101 Tips for Graduates: A Code of Conduct for Success and Happiness in Your Professional Life' (Checkmark Books/Facts on File, 2005), is to perfect your "packaging."
"Use your creativity to come up with multiple methods of marketing; determine the important selling points and right words, then make phone calls, send mail or e-mail, use the Internet, attend networking events, join a job or other support group, request meetings and informational interviews, and use any other method you can think of," she says. Whether you're targeting a top 10 career or one beyond such lists, if you become as knowledgeable as you can about the most effective ways to market yourself, Morem stresses, you will be successful.
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