While the cost of college increases annually, the payoff for many disciplines is shrinking as salary offers fall.
According to this press release from the National Association of Colleges and Employers (NACE) many of today’s college grads are starting at lower salaries than those graduating last year.
According to the new study, average starting salary offers to the Class of 2010 are down 1.3 percent vs. the average of those offered to the Class of 2009.
NACE’s Summer 2010 Salary Survey reveals the average offer to this summer’s bachelor’s degree grads is $48,661. Last year it was $49,307.
Accounting grads saw their average offer dip less than 1% to $48,691. Business administration graduates experienced a drop of 2.4% to $43,879. Liberal arts grads suffered a 3.9% decline to $34,747.
Not all disciplines, however, were down. Economics graduates saw a 2.1% increase to $50,885. Finance grads received an increase of .8% to $50,356. Offers for Information Sciences went up 5.7% to $55,084. Engineering offers were also up, but just barely — .5% to $61,112.
If you guessed the economy is the culprit, you’re right.
In an interview with CNN/Money, NACE spokeswoman Mimi Collins said, “It’s just a simple supply-and-demand result of what’s going on the economy right now. You just have fewer opportunities all the way around.”
For in-demand jobs that don’t require a four-year college degree, see this recent story.