Every new college graduate who will be leaving the comfort of campus this June wants to know what the job market will hold for them over the few months or even a few years that subsequently follow. And while no one can truly predict exactly what will happen, the National Association of Colleges and Employers (NACE) has put out several reports that can help a new or soon-to-be college graduate get a handle on what to expect in 2010 when it comes to their career outlook.
Lower Average Starting Salaries in 2010
The starting salaries for the graduating class of 2009 averaged $49,353. However, this year’s graduating class will likely see about a two percent decline according to NACE. Part of the reason, say the experts, is that there is a decreased demand for college graduates. In fact, a survey conducted by NACE last August indicated about a seven percent decrease in the hiring of college grads (see the section below).
Now while this two percent decline is an overall average, there are certain college majors that are not likely to see this large of a decrease. Finance, accounting and business administration or management majors are expected to lose less than one percent on their starting salaries, while computer-related and engineer graduates will likely post an increase.
Communication Skills Top List of Required Soft Skills
The NACE Salary Survey out just last month reports that among the many things that employers look for in candidates, communication skills are number one on the list. Rounding out the top five were analytical skills, teamwork, technical skills and a strong work ethic.
College graduates shouldn’t let this short list fool them into thinking this is all that employers look for when interviewing job seekers. Many consider GPA and experience gained through an internship or part-time work along with other qualities. However, of all the soft skills that employers seek, the ability to communicate well both verbally and in writing are mandatory.
Smart College Students Gain Experience through Internships
As mentioned above, an internship is considered by many employers as a sign of a motivated and well-rounded candidate. And while three-quarters preferred college graduates with related work experience, 16 percent indicated that any type of work experience was acceptable.
Keep in mind that with fewer employment opportunities available it is important for new college graduates to stand out from the crowd. For many employers having work experience is crucial. And while taking part in an internship can’t guarantee job hunting success, college graduates without it are at a clear disadvantage.
Campus Recruiting Up, Hiring Down
Surprising as this may seem, employers have recently indicated that they plan to be more active on college campuses over the next few months. Unfortunately, they also indicated in a recent NACE poll that they would be reducing their college hiring. The reason: employers are looking to keep a presence on campus, but appear to be focusing more on internship opportunities.
Considering that employers have also indicated how important participation in an internship program is to their hiring decision then it sounds like a win-win situation -- at least for college students not yet ready to graduate. For soon-to-be college grads all indications are that the college hiring market has not fully recovered. That’s why keeping an eye on business trends to understand the most marketable college majors is a wise move.
The fact is that every graduating class is faced with job market uncertainties. Whether that means lower starting salaries and hiring numbers or specific employer-desired skill sets like this 2010 graduating season appears to indicate, new college graduates will continue to face challenges as they enter the job market each year.
Deborah S. Hildebrand - Deborah S. Hildebrand is a freelance writer & HR consultant with 20+ years in human resources & a Bachelor's degree in Business.
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