Thursday, April 29, 2010

2010 Grads - Smaller Job Market, but May Have Higher Pay than Last Year

Job market decreasing, but income increasing?

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CHICAGO, April 14 /PRNewswire/ -- CareerBuilder's Annual Job Forecast finds the overall job market for 2010 college graduates will remain highly competitive, but is showing some signs of improvement. The total number of employers planning to hire recent college graduates in 2010 – 44 percent – is relatively unchanged from 43 percent in 2009 and is down from a high of 79 percent in 2007. However, one-in-five employers (21 percent) who are hiring recent college graduates said they will hire more than they did last year. Sixteen percent also reported they will offer higher starting salaries than they did in 2009, an improvement from 11 percent in last year's survey. The survey was conducted from February 10 to March 2, 2010, among 2,778 hiring managers and human resource professionals.

Thirty percent of employers plan to offer recent college graduates starting salaries ranging between $30,000 and $40,000. An additional 19 percent will offer between $40,000 and $50,000, and 19 percent will offer $50,000 or more. Thirty-three percent will offer less than $30,000.

"Even though companies are gradually starting to hire again, the job market will still be challenging for college graduates this year," said Brent Rasmussen, President of CareerBuilder North America. "To take advantage of the opportunities that exist, it's important for recent graduates to start their search early, remain positive and keep an open mind. In addition, networking and showing relevant work experience – whether it is internships, class work or volunteering – can help make your application stand out."

Employers reported that the following activities qualify as pertinent work experience for recent college graduates to include on their resumes:

• Internships – 62 percent
• Part-time jobs in another area or field – 50 percent
• Volunteer work – 40 percent
• Class work – 31 percent
• Involvement in school organizations – 23 percent
• Involvement in managing activities for sororities and fraternities – 21 percent
• Participation in sports – 13 percent

While employers said that experience is one of the most influential factors in their decision to hire a recent college graduate, they also pointed to the following attributes:

• Good fit with company culture
• Comes in with good ideas and asks good questions
• Educational background
• Level of enthusiasm
• Comes to interview prepared, is knowledgeable about company

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