NEW YORK (CNNMoney.com) - In just a few weeks, millions of college kids are going to be venturing off to corporate America.

Before you put on that cap and gown, Five Tips is here to give a little cheat sheet on how to get financially positioned for the real world.

Rising salaries for graduates     Economic/Finance  up 11%  Accounting  up 6%  Business management  up 4%  Civil engineering  up 4%   Source: National Association of Colleges and Employers

It's the best entry-level job market since the dot.com collapse in 2001, according to employment consultant Challenger, Gray and Christmas. The company says that employers plan to hire almost 15 percent more college graduates than last year.

So, where are the Benjamins? Think Finance. Starting salaries for Economic/Finance graduates will be up 11 percent this year, according to the National Association of Colleges and Employers (NACE). Accounting salaries are up over 6 percent; business management by 4 percent and civil engineering is up over 4 percent.

Now that you're in such high demand, it's time to use your leverage. Start your job search now. Don't get caught up in the May rush. This way, you'll get the pick of the job litter.

What's up for grabs? Some of the bennies you may be able to negotiate this year include signing bonuses of $5,000 in some industries. Many employers are now sweetening their benefit packages.

"You'll see more tuition reimbursement programs, more schedule flexibility," says John Challenger. You may be able to arrange a couple of days where you telecommute, or you may negotiate more vacation time.

But remember there is such a thing as over-negotiation. Don't give a laundry list of your desires until you've actually been given an offer. "The company should want you first," says Challenger.

It may seem silly to even think about retirement before you've even landed your first job, but young people have the best asset of anyone when it comes to saving -- time.

According to employee benefits firm Hewitt Associates, young people today invest even more conservatively than their parents. The lesson here is to invest as soon as you can in a 401(k) program. And make sure your investments have more stocks than bonds.

Just think...if you contribute about $4,000 a year to a 401(k) for ten years from the age of 25 to 35, you will have half a million dollars in your account by the time you retire, even if you don't make any more contributions.

"It's the magic of compound interest," says Molly Balunek, a financial planner with Spero-Smith Investment Advisers. And your company may even match your contribution up to a certain amount.

"That's like free money," says Richard Davies of AllianceBernstein Investments.

And if you don't have a 401(k) plan, you can still save some money for your retirement. Think about an Individual Retirement Account or a Roth IRA. An IRA allows you to save pre-tax dollars toward retirement. Money you invest in a Roth IRA is taxed now, but you can withdraw it tax-free during your retirement

So we know that after you leave school, you're going to have to fight your way out of all that student loan debt. If you are haven't consolidated your student loans, do it before July 1st of 2006.

If you are graduating soon from college, put your loans into early repayment status, get an in-school deferment and consolidate before July 1st. Congress is very likely to approve higher student loan interest rates for Stafford and the Parent Loan for Undergraduate Students (PLUS). These loans, which are variable now, will changed to a fixed rates. Stafford loans, which are now about 4.7 percent will move to a fixed 6.8 percent in July.

If you are currently repaying loans, you won't be subject to the new rate, but Mark Kantrowitz of FinAid anticipates that interest rates on variable loans will be about 6.8 percent by July. And the two percentage point differential can make a huge difference as you pay off that debt.

Now that you're finally free of the roommate and the cramped dorm room, think about getting into your own place. Of course investing in real estate is a very costly proposition, but it is also one of the smartest things you can do.

You may not be able to make it happen right away, but start planning now. The key is to build a nest egg so that you can make a 10 percent or even 20 percent down payment when the time comes to buy that first home.

So, you want to save and invest now, and when you get within six months or a year of making a purchase, put the money in a safe, short-term investment, such as a 6-month Certificate of Deposit. Buying a home is a long-term goal, but it won't happen unless you start saving for it now.

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Gerri Willis is a personal finance editor for CNN Business News and the host for Open House. E-mail comments to 5tips@cnn.com.