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Politics : The Obama - Clinton Disaster
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To: Broken_Clock who wrote (18586)9/9/2009 7:37:53 AM
From: Hope Praytochange  Read Replies (1) of 103300
 
By SARA MURRAY

Haunted by fewer job offers this season, recent graduates with jobs took a hit to their salaries, the National Association of Colleges and Employers said Tuesday.

Those who graduated with bachelor's degrees in 2009 received a $48,633 average starting salary offer, down 1.2% from last year, according to a survey of 140 college and university career-services offices. It is a stark change from 2008, when the average starting salary was 7.6% higher than those offered to the class of 2007.

Engineering and computer-science graduates fared the best in 2009 and saw increases in their average starting salaries. Average offers fell among business and liberal-arts graduates.

The drop in 2009 is due, in large part, to the scarcity of offers for new graduates, which forces down starting salaries. Survey respondents reported 20% fewer offers in September 2009 compared with the same time last year.

The wage cuts add to evidence that demand for recent college graduates has been hard-hit during the recession, spurring consequences that may last for more than a decade. Young people tend to be a particularly vulnerable demographic in economic downturns and are often the first to be laid off or are competing against laid-off workers with years of job experience.

A preview of 2010 shows next year's graduates may face similar hardships. Employers expect to cut college-graduate hiring by 7%, a separate survey of 219 NACE employer members showed.
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