WSJ: Salaries Rose 3.4% for 2012 College Grads
Originally Posted by Wall Street Journal
It’s not just M.B.A.s who are benefiting from a thawing employment market: Starting salaries for graduates of the class of 2012 have reached $44,455, a 3.4% rise over beginning salaries for college grads in 2011.
Engineering grads are earning the highest salaries, with newly-minted computer engineers topping the list at $70,400 right out of school, the National Association of Colleges and Employers reported in its just-released Salary Survey, a poll the organization conducts three times a year.
Mirroring trends in the broader economy showing that engineering and computer skills are highly sought, eight of the ten highest-earning majors come from these departments. Companies need workers with specialized technical skills to keep up with rapid technological change and the explosion of data, but too few American college students are choosing the relevant majors to meet that demand.
“Over the years the number of graduates in those areas has decreased, so that creates greater demand,” said NACE’s Andrea Koncz, who oversees the survey.
Buthe good news wasn’t only limited to math-heavy majors. Education majors’ salaries rose by 5.4% to $40,668, the biggest jump by discipline, and business majors saw a 4.2% increase to $53,900. Even humanities and social-science majors, with the lowest overall year-to-year salary growth, with starting pay of $36,988, still earned a slight bump after accounting for inflation.
The NACE data is based on government surveys of approximately 400,000 employers, using accepted starting salaries of new graduates.