The continuing improvement of our economy is widening the doors of opportunity for new college graduates as prospects for employment are high—about 13% greater than for the Class of 2004. Approximately 80% of businesses with at least 5,000 workers and around 90% of those with 10,000 of more employees anticipate hiring new college graduates. Some 9% of all entry-level positions in the US are forecast to be in the Lone Star State.
In addition to seeking applicants with appropriate academic preparation and skill levels, companies are looking for honest candidates who have constructive work ethics and who are capable of making positive contributions. They also are interested in individuals who possess leadership potential, have good computer knowledge, and are team players.
Not only are there more job openings, but according to recent surveys, entry-level pay is going to be up. Graduates with aerospace engineering degrees can expect average beginning salaries to be 9% more than the remuneration received by those in the same field last year. Other areas and the percentage hike over the wages of the Class of 2004 include: marketing, 6.0%; economics/finance, 5.1%; chemical engineering, 4.3%; liberal arts, 4.2%; mechanical engineering, 4.1%; civil engineering, 4.0%; accounting, 3.9%, and business administration, 3.2%.
Even though graduates who studied computer science will be offered only about 2.6% more than what 2004 graduates were paid, the news is still good as this field is predicted to be among the fastest growing over the next several years. Credit for this expansion is given to the desire of businesses to utilize new and increasingly sophisticated technologies.
The top 10 occupations for new graduates along with expected average salaries include software design/development, $53,729; consulting, $49,781; design and construction engineering, $47,058; financial treasury analysis, $45,596; and private accounting, $44,564. Others in this category are public accounting, $41,039; registered nursing, $38,775; sales, $37,130; management training, $35,811; and school teaching, $29,733.
Although career planning is not the only reason people have for going to college, many of the best paying occupations require or prefer individuals with degrees. Over the past several years, the percentage of adults in the US between the ages of 25 and 34 who have completed four or more years of college work has been creeping upward and now stands around 29%.
In many cases, these individuals are benefiting financially as about half of the 25 fastest growing jobs demand at least one degree. The average annual pay in these fields is approximately $53,975. It’s easy to see the value of a college education when one compares these wages with the $34,200 statewide average per annum pay for all occupations.
Career fields requiring at least an undergraduate degree which are expected to have the greatest number of openings over the next few years include computer-oriented fields and mathematics, business, finance, architecture, engineering, community services, and social services.
About 75% of those receiving degrees this spring are confident in their preparation to enter the workforce. Some of this self-assurance comes from experiences gained through internships. Nearly a quarter of the schools offering internships expanded their programs this year, and over half of the new graduates participated in at least one internship during their academic career.
Even though approximately 70% of all jobs are filled by low- and medium-skilled workers, an increasing number of occupations today are closely associated with or have components related to the use of modern technology. The areas with above average use of technology have the highest rate of new job growth.
Having a college education that includes proper career preparation can certainly prove advantageous for those entering or seeking advancements in the workforce of the 21st Century.