October 10, 2011

New Grad Salary Report - Salaries climbed in all areas for new college grads!!!

The National Association of Colleges and Employers (NACE), Fall 2011 Salary Survey, was just released and the news is very good. The average salary offers across all majors in the final report for the class of 2011 is up 6 percent ($51,171) over the overall average salary report of the class of 2010 ($47,673). This final report of 2011 is a strong indication that the economic recovery is apparent, at least for new college graduates. Overall this is a very good report. The increases in salary are definitely a sign that there is significant demand for new grad talent.

NACE reports that more than 85 percent of new graduates (all majors) showed an increase in their average salary offer. "This marks the fourth straight issue of the Salary Survey that reports an increase to the overall average salary offers." NACE further reports "While starting salaries are on the rise, so is the number of reported offers, which is 28 percent higher than in the Fall 2010 Salary Survey report."

Business major overall average salaries for 2011 increased 4.6 percent after a 2010 drop of 1.4 percent. Most notable in the business arena - offers for financial analysis positions climbed three fold over 2010 and the average salary offer for these positions climbed a whopping 14.3 percent to $57,470! Offers to economics graduates average salary offers also climbed by 3.9 percent to $53,690.

Engineering and computer science majors swept the NACE list of "Top Paid Majors for 2010-2011". (Bachelor degree average salary offers):
1. Petroleum Engineering - $82,740

2. Computer Science - $66,084
3. Chemical Engineering - $66,058
4. Software Engineering - $63,489
5. Mining & Mineral Engineering (incl. Geological) - $62,912
6. Computer Engineering - $62,849

Computer science salary increases were quite significant. The average salary offers for computer science majors in the 2011 final report increased on average 9.3 percent to $66,894. Offers to these majors in the areas of systems analysis and design were up 6.8 percent to $66,719, and computer programming which rose 13.3 percent to $64,988, and were the most frequently cited positions computer science grads were hired into.

Computer engineering average salaries increased 4.1% to $62,849.

Mechanical engineering average salaries increased 3.5 percent to $60,142 with twice as many reporting offers in design/construction engineering as last year. Great overall news for the economy since you have to design it before you can build it. Perhaps the big build is just around the corner.

Civil engineering and electrical engineering graduates average offer increases were significantly lower than other areas of engineering. Civil engineering offers increased 1.4 percent to $52,058. Electrical engineering offers increased 1.5 percent to $60,411.

Construction Management new grad salaries increased 1.5 percent to $50,551.

In summary, nationwide the 2011 over 2010 final salary results for technical BS degrees found at CSUS - all up:

  • Average salaries for computer science (CS) new grads: +9.3% to $66,084
  • Average salary offers to civil engineering (CE) new grads: +1.4% to $52058
  • Average salary offers to electrical engineering (EEE) new grads: +1.5% to $60,411
  • Average salary offers to computer engineering (CpE) new grads: +4.1% to $62,849
  • Average salary offers to mechanical engineering (ME): +3.5% to $60,142
  • Average salary offers to construction management (CM): +1.5% to $50,551