April 25, 2013

Salary Data for Spring 2013 from the National Association of Colleges and Employers!

The market is definitely back on track! The National Association of Colleges and Employers (NACE) released its Spring 2013 Salary Survey report for starting salaries of new college graduates. Approximately 400,000 employers were included in the survey. The data are collected from private as well as public employers across the US who have hired new college graduates in all disciplines. This is the first salary data for the Class of 2013 according to NACE.

NACE released a Job Outlook 2013 report in November of last year that surveyed employer members. The report forecasted robust 2013 hiring plans.

Here are the highlights on hiring methods, hiring projections, and salary data of US employers who were included in the NACE 2013 surveys:

Hiring expectations by region of US:
54.5% of employers in the West plan to increase hiring
47.5% of employers in the Midwest plan to increase hiring
41.4% of employers in the Southeast plan to increase hiring
50.9% of employers in the Northeast plan to increase hiring

Hiring Methods:
60% plan to use social networks as a college-recruiting tool
40% plan to attend more career fairs

Total change in hiring plans by industry (2013 over 2012):
Oil & Gas Extraction +6.3%
Utilities +14.7
Construction +21.6%
Food & Beverage Mfg +2.2%
Chemical (Pharmaceutical) Mfg +11%
Computer & Electronics Mfg +14.6%
Misc. Mfg -1.5%
Retail Trade +47%
Information +62.4%
Finance, Ins. & Real Estate +12.6%
Engineering Services +4.2%
Management Consulting +16.5%
Misc. Professional Services +13.3%
Government +12.6%

Top Hiring Industries:
Educational Services
Professional Scientific & Professional Services
Healthcare & Social Assistance
Federal, State & Local Government
Finance & Insurance

Top Paying Industries for new graduates:
Mining, Quarying, and Oil & Gas Extraction
Management of Companies & Enterprises
Finance & Insurance

Although engineers find employment in all of these industries, they are primarily employed in Professional, Scientific, & Technical Services.

Engineers were the highest paid of all majors in the Spring 2013 report. Engineering salaries overall rose 4% to $62,535, with petroleum engineers being paid the highest average salary - an astounding $93,500.

The starting salaries for engineering and computer science majors are at the top of the pay scale. The numbers are up significantly for all engineering and computer science graduates except construction management.

Nationwide the 2013 over 2012 average salary results for relevant technical BS degrees found at CSUS:

Average Salaries (Majors found at CSUS- ECS):
Average salaries for CS new grads: +5.2% to $64,800
Average salaries for CE new grads: -0.7% to $57,300
Average salaries for EEE new grads: +6.2% to $63,400
Average salaries for CpE new grads: +1.1% to $71,700
Average salaries for CM new grads: -2.1% to $56,400
Average salaries for ME new grads: +5.6% to $64,000

Salaries for CSUS graduates tend to run closer to the top of the chart below (and higher) due to the fact that Sacramento is in the high cost of living area of Northern California and students frequently graduate with major project and work experience.

Other excellent sources for salary information include http://www.glassdoor.com and http://www.salary.com.

Spring 2013 Salary Range Data:

Bachelors Degrees

  75th Percentile Average 25th Percentile
CE $67,800 $57,300 $46,500
CM $66,200 $56,400 $44,900
CpE $82,100 $71,700 $55,600
CS $75,600 $64,800 $50,800
EEE $75,400 $63,400 $51,400
ME $75,600 $64,000 $51,100

Bachelors Degrees

  75th Percentile Average 25th Percentile
CE * * *
CpE * * *
CS $84,400 $74,200 $58,500
EEE $78,800 $67,200 $53,000
ME $78,300 $67,900 $53,900
Apr 2013
* No offers were reported for statistical analysis