Starting salary projections for 2003 left some University ofMemphis seniors hoping the bleak numbers would soon change, andaccording to a new survey, graduates in 2004 may have timed itright.
Starting salaries for college graduates in 2004 are improvingdespite last year's dismal projections, according to a Februaryreport released by the National Association of Colleges andEmployers.
Although there is reason for U of M graduates to be optimisticabout the survey's findings, NACE officials remain cautious becausemany decisive months are still ahead.
"It's hard to speculate at the beginning of the year," saidAndrea Carr, NACE employment information manager .
Carr said she believes the Winter Salary Survey provides a goodstarting point for three surveys the NACE will conduct during 2004and hopes to back up the positive results.
When comparing this report to the Winter Salary Survey of 2003,it's hard to deny the upshot of starting salaries.
"It's important to recognize that the job market isn't booming,but we are seeing improvement," said Marilyn Mackes in a statementreleased by the NACE. "For example, in our last Salary Survey, moredisciplines report starting salary increases than last year at thistime, when nearly half the disciplines we track experienceddecreases. By contrast, in the Winter 2004 Salary Survey, justunder a third saw average offers drop."
Some significant increases were seen in the technology sectorand among liberal arts/general studies graduates.
Computer science majors are enjoying a significant startingsalary increase of 8.9 percent, with job offers averaging $48,656,while the 2003 Winter Salary Survey showed a 13.1 percentplunge.
In liberal arts, the NACE's reporting starting salary increasesof 6.2 percent.
However, annual starting salaries for psychology majors are down8 percent to just over $25,000.
A traditional liberal arts education is highly valued byemployers, said William Thompson, assistant dean in the U of MCollege of Arts and Sciences. "I think there are many companies andemployers looking for analytical and writing skills."
Starting salaries of management information systems graduateswere the best indicator of how the job market has changed sincelast year.
MIS graduates are enjoying their first starting salary increasesince 2001 at 1.3 percent, which makes up for the 4.6 percent lossfor 2002 and 2003 graduates.
Increases were also expected in business disciplines.Administration/management graduates were offered an average of 2percent more than last year.
Of the 1,077 NACE members surveyed, 23 percent (or 242 members)responded, which Carr said is good compared to past surveys.
